Cardano will not succeed if Bitcoin fails: IOHK’s Charles Hoskinson

IOHK’s Charles Hoskinson has been pioneering the idea of building a fully decentralized ecosystem that eliminates Bitcoin‘s scalability issues. On a recent Anthony Pompliano podcast, he said,

“Bitcoin is blind, deaf and dumb. And that was by design. You don’t solve your decentralized reality and your decentralized dream by by centralizing it. I’m sorry, that’s just philosophically incompatible.”

This is the primary reason behind Cardano’s rise and Hoskinson shared that “it’s more of a question of how do we steer this tech in a direction that is actually useful for people.” As the cryptocurrency market moves towards global adoption, the entrepreneur envisions that that “the global marketplace will actually start making decisions accordingly.”

In such a situation, countries with stringent policies will start losing business and eventually, “the global market will start collapsing down on them and force them to change their standards for sure.” Hoskinson also highlighted the importance of “brand” in the cryptocurrency market for success.

Additionally, he applauded Blockstream’s efforts towards “making” Bitcoin more useful by pushing the Lightning Network. The Cardano Founder added,

“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”