In the recent Anthony Pompliano Podcast, the guests, Charles Hoskinson, spoke about how Bitcoin can change the entire industry upside down. Charles claims IOHK and Cardano to be his proudest work to date. He has been discussing his revolutionary idea of creating a decentralized ecosystem, which might result in abolishing the scalability of Bitcoin.
Bitcoin is blind, deaf, and dumb. And that was by design. You don’t solve your decentralized reality and your decentralized dream by centralizing it. I’m sorry, that’s just philosophically incompatible.
He also added that he wishes to navigate this technology in the direction of making it useful for the real world. We have seen the realization of the global adoption of the Cryptocurrency market that is leading the greatest entrepreneurship to base their decision on how the global market will work.
However, the market tends to breakdown, since the adoption of the Cryptocurrency market might not be a success in the countries that aren’t flexible with their trading policies. Well, the impact of the same will result in a collapsing market.
The significance of the brand also matters in the industry, he added. Bitcoin is practically holding the entire resolution of the industry. He quoted, “BTC is a centralized network, which is running the market success of this industry.”
He appreciated the Blockstream efforts of realizing BTC to be more useful. However, the ecosystem of Bitcoin is something that he doesn’t approve and clearly, the success of other altcoins like Cardano and IOHK depends on the ‘brand.’
Charles Hoskinson also mentioned,
We can’t say that I’m going to succeed, but Bitcoin is going to fail. If Bitcoin fails, our whole industry’s probably in for a really bad time.
With the Bitcoin failing in the future, the entire industry will suffer a tragic time with it.