Charles Hoskinson explained the role of the centralised engineering team behind the crypto assets as an important part of the crypto market.
Charles Hoskinson is the founder & CEO of Input Output Hong Kong Global (IOG), an engineering team behind the Proof-of-stake (PoS) scalable Cardano blockchain. From 2013 to 2014, Hoskinson was an early contributor to the Ethereum project. In 2017, Hoskinson launched Cardano as a rival of the Ethereum blockchain.
On 2 May 2023, Charles Hoskinson appeared in an interview with Fox Business. Hoskinson said that he has been in the crypto sector since 2011 and at that time nobody cares about Bitcoin or crypto assets.
“We were a very small club, we all kind of knew each other,” Hoskinson continued, noting that “we’ve seen tremendous growth” since.
According to Hoskinson the current situation & position of this sector is standing at a better level and now there are around 3.5 million people in the crypto sector.
Further Hoskinson explained the reliability of blockchain technology. He said that in the blockchain sector, there are huge numbers of people doing work without any necessity of trusting each other but people need to work together to form a very big market.
On the centralized team behind Crypto projects, Hoskinson said that crypto network globalization is not the best option to grab full trusted support among people because to solve the problem there should be a team & people will trust that team.
Cardano’s founder noted that digital finance was the main option to use on the blockchain technology but now this technology is available for healthcare communication and telecommunications.
In a recent month, the SEC official claimed that all the crypto assets are securities because there is a centralized management body behind all the crypto assets, except Bitcoin. Probably here Hoskinson tried to explain that a centralized engineering team helps to maintain the security level of the network.
Read also: Former SEC official suggests people not use Binance crypto exchange