Charles Hoskinson says Bitcoin is "blind, deaf and dumb"

10 Apr, 2019
by Richard Allen
Charles Hoskinson says Bitcoin is blind, deaf and dumb

Ethereum co-founder and CEO of IOHK, Charles Hoskinson recently did an interview with Ivan on Tech to discuss where Cardano is in 2019 and how far the project has progressed since Hoskinson’s ‘Cardano whiteboard and overview’ video was published in 2017.

Hoskinson began by stating Cardano began as an “aspirational project” in 2015. He states that the team identified three different areas they needed to focus on in order to be unique while also competing with Bitcoin and Ethereum.

Hoskinson goes on to say that “… It wasn’t until 2013 that that really solidified and we reached a billion dollar market cap and people said ‘oh cryptocurrencies are here to stay’. The problem with Bitcoin is it’s blind, deaf and dumb. You can’t really do much with it.”

He goes on to explain that even minor things like issuing another asset is a “big, exhaustive effort,” which is actually what led to the creation of Ethereum in 2013. It allowed people to “implement whatever they want on top of that” by using the concept of “let’s just add a programming language to a blockchain.”

However, this came with several issues. Hoskinson explained: “it doesn’t really scale, it's not really interoperable with all the other systems. And finally, there really is no governance notion with it, there’s no sustainability.”

He adds that the 2017 video, in which he presented Cardano’s roadmap and overview, laid out a “collection of ideas” that the team had come up with two years earlier.

Referring to how Cardano began, Hoskinson stated the team said “alright, let’s launch a cryptocurrency. Let’s build a big community in a big support base around these concepts and then lets gradually roll the fruits of that research into that cryptocurrency.”

Read more: Hoskinson: nothing gets done in Vitalik's or Dan Larimer's lone wolf way

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