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If US Chose Cardano For Elections, It Needs To Stockpile ADA, Says Founder

In an interview with David Gokhshtein, Cardano founder Charles Hoskinson shed light on his deep ties to the US government under President Donald Trump. Throughout the discussion, Hoskinson revealed ongoing legislative engagements, potential blockchain collaborations, and insights into how Cardano might serve large-scale systems like national elections.

Cardano Founder’s Ties To US Politics

One of Hoskinson’s most striking comments addressed the prospect of a government-level blockchain deployment. Specifically, he noted how a hypothetical decision by the US government to adopt Cardano for elections could have far-reaching implications: “If the US government was building a blockchain solution, let’s say they chose Cardano to run elections, then you’re stockpiling ADA to maintain the fuel to pay for your election system—a different consideration than a speculative interest.”

During the interview, Hoskinson also alluded to his advisory roles in Washington, D.C., referencing discussions with both legislators and regulatory bodies: “I’m advising people like Senator Tim Scott, as Tim publicly revealed yesterday, and others.”

He went on to describe meetings with the Commodity Futures Trading Commission (CFTC) and various congressional representatives: “I met with one of the CFTC commissioners, many members of Congress, and spoke with Congressman Warren Davidson. There’s a good chance we pass a stablecoin bill within 3 months and get a market structure bill done by August.”

Hoskinson expressed optimism about this legislative push, highlighting the synergy between the White House and other stakeholders: “We’re glad the White House is doing their thing, and it’s fun to be on the legislative side and work with them. Hopefully they’ll meet in the middle with the bicameral working group and all the things will come together.”

Delving deeper, Hoskinson described a vigorous timeline for policy initiatives: “We’re going to bring a great team of people together at the senate and have some wonderful policy discussions about the market structure bill and begin marking that up.” He pointed out that various “non-financial use cases” potentially of blockchain extend to defense, supply chain, and beyond.

In the realm of digital currencies, Hoskinson highlighted the current administration’s apparent priority list: “The White House is trying their best to help and push the process along. Stablecoins first, market structure second. There’s about $230B of stablecoins in circulation, representing about 76% in value transactions in crypto.”

Hoskinson also addressed World Liberty Financial (WLF), a crypto business created by President Trump and his sons, which launched a stablecoin called USD1 this week. Hoskinson spoke openly about his initial impressions: “Well I think they’re great guys […] the first time I had a chance to really talk to Don [Jr] […] I really [found them] very nice and… we’ll see where that goes, where that relationship goes […] I have never really engaged with them before and hopefully there can be something in the future that’s possible.”

He further explained how WLF could potentially collaborate with Cardano’s ongoing projects, particularly those focused on lending in Africa: “For example, one thing I’d love to look at is… if there is a path to increase the available liquidity for our real fine lending portfolio that we have in Africa […] right now we’re kind of trying to […] fight with that […] t may be faster to market to do that through what WLF is doing […] so that could be potentially a path of USD1 […] it’d be really nice to see if there’s a path to get that stablecoin on the Cardano ecosystem.”

At press time, ADA traded at $0.70.

Cardano price

from Bitcoinist.com https://ift.tt/gwFmaKO
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