Cardano founder and IO Global CEO Charles Hoskinson discussed Bitcoin’s main problem during an interview with Fox Business’s Maria Bartiromo: its limited functionality.
Hoskinson explained that Bitcoin can only perform a limited set of tasks, such as pushing value around, and it lacks programmability.
Hoskinson, who is also a co-founder of Ethereum, shared that Ethereum was developed to address the limitations of Bitcoin by introducing smart contracts and programmable money.
In the interview, Hoskinson also talked about the success of Cardano, launched in 2017, which now has over 3.5 million users worldwide.
He emphasized the potential of blockchain technology to address complex problems in various sectors, particularly in situations where a consortium of actors needs to work together but does not necessarily trust one another.
Regarding international economies adopting blockchain technology, Hoskinson acknowledged a global trend toward transnational, decentralized frameworks.
He argued that in the absence of a single nation’s standard, blockchain could serve as a compromise solution, providing a transnational, decentralized framework with fairer rules for everyone, ensuring equal treatment and inclusion.