Charles Hoskinson, founder of Cardano (ADA) and leader in the crypto industry, made some impressive remarks about the future of the crypto world and new technologies that will transform the industry in a new interview.
Hoskinson argued that in the long run, people will no longer use cryptocurrencies directly. Instead, delegated artificial intelligence (AI) agents manage this ecosystem.
Referring to the recent crisis the industry has experienced, Hoskinson said, “FTX, Terra (Luna), the meme coin epidemic, hacking incidents, fraud, etc. have clearly proven that markets cannot regulate themselves,” and argued that rules and regulation are essential for markets.
Hoskinson said the biggest barrier to mass adoption of cryptocurrencies is their complexity.
He said that even someone with a PhD in computer science prefers simplicity, and that 35% of MetaMask wallets are not backed up and people still leave their funds on exchanges.
Hoskinson said the solution lies in “chain abstraction” and “account abstraction” technologies, arguing that end users do not need to know which blockchain a transaction is taking place on or the underlying cryptography.
In the most memorable part of the interview, Hoskinson referred to the “agent revolution” and said that artificial intelligence and blockchain complement each other perfectly. He explained that blockchain is deterministic (rule-based and rigid), while artificial intelligence is flexible and creative, and predicted that the combination of these two systems will create a secure transaction ecosystem.
Hoskinson also shared details about Midnight, a new privacy-focused protocol he founded for the Web 2.5 ecosystem. He announced that he is building an open, permissionless network to help large Web 2 companies enter the crypto world in a compliant and secure manner. He also explained that the smartphone-centric Midnight Passport will eliminate the need for users to store a 24-word key and allow them to perform transactions using just their fingerprint.
*This is not investment advice.
