In a recent video, Charles Hoskinson, founder of Cardano, shared his thoughts on the current political environment and how it’s affecting the cryptocurrency industry. Hoskinson, a libertarian, believes in maximizing economic freedom, personal privacy, and property rights. He says that historically, the crypto industry has been very libertarian and allowed users to do what they want with their cryptocurrencies. However, in the past two US presidential administrations, things have become exceedingly political, with crypto being called “alt-right” by many on the left.
Hoskinson notes that this perception is being reflected in regulatory enforcement, with companies being told to register but not being able to do so physically. This, along with operation choke point 2.0, which is quickly removing all US banking of crypto companies, is making it very difficult for crypto companies to operate. Hoskinson believes that this is very frustrating for the industry, as it’s trying its best to comply.
Another frustration for Hoskinson is that the institutions we rely on to be independent and objective are deeply compromised, and they’re no longer holding people accountable. The mainstream media, in particular, has started to take a mocking tone towards cryptocurrencies and the blockchain industry. Hoskinson believes that this dismissive tone makes it more difficult for the industry to act and operate.
In conclusion, Hoskinson believes that the protocols of the cryptocurrency industry should not be political, but the use cases of the protocols can become political because they expose problems with the way things are. He believes that the cryptocurrency space has a much better way of governing things around us, but its mere existence is a threat to the current system.