Cardano Foundation chairman pushed to resign

13 Nov, 2018
by Arthur Sillers
News
Cardano Foundation chairman pushed to resign

According to an announcement from the Cardano Foundation, Michael Parsons has resigned his role as chairman with committee member Pascal Schmid taking over for the time being.

The Cardano Foundation is a Swiss blockchain community centered around the ADA cryptocurrency which works with Japan’s Emurgo as well as IOHK in Hong Kong whose leader Charles Hoskinson, has already voiced criticisms of Parson’s leadership as head of Cardono Foundation.

This announcement follows a recently published open letter from Charles Hoskinson, which accused Parsons of ineffective leadership.

The letter alleged that Parsons failed to replace committee members who resigned, leaving board seats open, effectively centralizing his power over decisions for the Switzerland based cryptocurrency effort. Among other things, the letter also accuses Parsons of having no effective plan forward for Cardano, nor the ADA crypto community it had created.

These events hint at an ongoing power struggle which will likely have significant effects on ADA and Cardano’s immediate future.

Read more: "We're just gonna move on out": Hoskinson on split from Cardano FoundationBitmain co-founder Jihan Wu is no longer on its executive board

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Read more about: Cardano (ADA)

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