Charles Hoskinson, founder of Cardano (ADA) and leader in the cryptocurrency industry, has made striking statements in his latest interview about the future of the crypto world and the new technologies that will transform the industry.
Hoskinson argued that in the long term, people will not use cryptocurrencies directly; instead, delegated artificial intelligence (AI) agents will manage this ecosystem.
Referring to the crises the sector has experienced in recent years, Hoskinson argued that rules and regulations are essential in the market, saying: “The market has clearly proven that it cannot regulate itself; with the FTX, Terra (Luna), memecoin fads, hacking incidents and scams.”
Hoskinson stated that the biggest obstacle to the mass adoption of cryptocurrencies is their complexity.
He said that even people with PhDs in computer science prefer simplicity, 35% of MetaMask wallets are not backed up, and people still leave their money on exchanges.
Hoskinson argued that the solution lies in the ‘chain abstraction’ and ‘account abstraction’ technologies, arguing that the end user does not need to know which blockchain the transaction is taking place on or what the underlying cryptography is.
In the most striking part of the interview, Hoskinson, referring to the ‘Agent Revolution’, stated that artificial intelligence and blockchains complement each other perfectly. He explained that blockchain is deterministic (rule-based and rigid), while artificial intelligence is flexible and creative, predicting that the combination of these two systems would create a secure trading ecosystem.
Hoskinson also shared details about ‘Midnight’, a new privacy-focused protocol he founded that targets the Web 2.5 ecosystem. He announced that they are building an open and permissionless network to enable large Web 2 companies to enter the crypto world securely, compliantly and in accordance with regulations. He also explained that thanks to ‘Midnight Passport’, which is aimed at smartphones, users will not have to store 24-word keys and can make transactions using just their fingerprints.
*This is not investment advice.