Cardano Founder Charles Hoskinson Thinks Ethereum Could Peak in 2022

In a recent interview, Charles Hoskinson spoke on a number of topics related to Cardano and Ethereum. 

Charles Hoskinson, the founder of Cardano and co-founder of Ethereum, recently spoke with Bloomberg News about ADA and ETH along with the broader cryptocurrency world in general. After working to create Ethereum, the developer left to create his own firm, Cardano. Since that time, the two camps have fired warning shots at each other with criticism and a fair amount of shade thrown from both sides.

Hoskinson was asked recently about Ethereum’s move toward proof-of-state (POS) and responded by stating that Cardano had already become the first to come to market with POS. He added that POS was just the engine and that if you buy an expensive car, it needs more than just a strong engine. He was queried whether the transition would be a “Cardano-killer,” to which he simply responded by saying he believes Cardano’s “scalability, interoperability, and sustainability,” put it above that of Ethereum in general. 

Hoskinson not betting on Ethereum long-term

In the Bloomberg interview, it was more of the same. Any time Hoskinson was asked about Ethereum, he answers professionally, even supportive, but all the while throwing some shade at his former team. When asked directly about his current thoughts on Ethereum, Hoskinson started by referring to Vitalik as a “young guy” and that he will apply his youth and wealth towards the things he feels are right.

He also acknowledged that Ethereum had several powerful companies as team mates, including ConsenSys, that have influence and money backing them. However, Hoskinson then shifted gears quickly and spoke about his doubts on the longevity of ethereum. “When you have that kind of momentum, something is going to happen,” the co-founder says of the coin he helped conceive of. Hoskinson goes on to say that issues will pop up in 2022 related to their upgrade and the “current velocity,” of ethereum will end in 2022 or early 2023. He added that Cardano is also on the rise. 

Updates on the Cardano front

While he was asked about ethereum, Hoskinson also spoke about his currency work with Cardano and the steps it is taking to lead the market. The focus for this portion of the interview was the Ethiopia project and Cardano’s efforts to address human rights globally. 

When asked about the Ethiopia project, Hoskinson said that currently one million people are onboarded as of now. The project sees IOHK and the Ethiopian government teaming up to change the education system in the nation. By using smart contracts from Cardano, students will be given a digital ID (DID) that holds all the information about their performance ins school from grades K-12.

Hoskinson says the goal is to have 5 million students onboarded and has a planned launch in October 2021. Also, Cardano intends to compete with others for the national ID system encompassing more than 100 million citizens. 

Hoskinson was also asked about how his work addresses human rights around the world. He responded by saying that in places like China or Saudi Arabia, because of histories of institutional violations, it makes little sense to build identity solutions there. He goes on to say that “we recently turned down a deal with a Central American country that we really wanted to do, but after peeling back layers and noticing rule of law was deteriorating, it just didn’t feel comfortable with our values.” He concluded by saying that sometimes things change, and you have to leave.

Even if that means giving up years of work. “The vision of the company is to improve the systems of the world for everyone everywhere, and the places that need better systems aren’t necessarily Berlin or New York City.”