IOHK head Charles Hoskinson predicts crypto on iPhone in "3-5 years"

18 Mar, 2019 | Updated: 19 Mar, 2019
by David Robb
Opinion
IOHK head Charles Hoskinson predicts crypto on iPhone in 3-5 years

Charles Hoskinson recently gave a talk at the TOKEN2049 conference in Hong Kong. During a keynote address, the founder of Cardano (ADA) development team IOHK claimed that society would face "some difficult financial times ahead", and predicted that crypto-enabled smartphones would soon become the standard.

According to Hoskinson, current monetary policy is misguided, and the U.S. government is becoming "more and more incompetent". He claimed that nobody was attempting "to solve real problems" with the legacy financial system, and we are just "kicking the proverbial can down the road". Hoskinson suggested that the next global market crash could be significantly larger than the last one.

Read more: Charles Hoskinson tears into JP Morgan Coin, calling it an "abomination"Charles Hoskinson talks ETC, Consensys, Coinbase and more

Speaking about the potential for crypto to be integrated into finance in the future, Hoskinson said that "at the end of the day, we don’t have to have an open, fair, and decentralized system. We can have centralized, hierarchical, digital money. We can have social credit. We can have a system where an actor can shut off the access to your identity, to your money. [And also] prevent you from traveling. Or, we can have a system that’s controlled by you".

In closing comments, he pointed out that there are more people in the crypto space today than at the peak of the market in 2017, and the space was continuing to improve with "more businesses...more venture capital....stronger business models". He also mentioned Samsung's upcoming crypto-enabled device, and suggested that "in 3-5 years, that's going to be a standard for pretty much every smartphone, probably including the iPhone".

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