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Cardano founder talks about Web3 and the comfort of Bitcoin at Binance Blockchain Week

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Cardano founder Charles Hoskinson gave a keynote address on the first day of this year’s Binance Blockchain Week, which took place at the Dubai World Trade Centre in the United Arab Emirates.

In fact, Hoskinson covered topics like Bitcoin (BTC), Web3, and philosophy in his address, posing questions like what happens next as the community moves away from Bitcoin’s comfort zone and toward centralization.

“As blockchains evolve and become more powerful, we will have to address some challenging and unpleasant philosophical issues.”

Web3 questioned by the CEO about where the line should be between decentralisation and regulation. “How do you tell when you’ve reached the point of decentralisation?” “You’re no longer the arbitrator of trust?” Hoskinson asked an audience of blockchain enthusiasts from around the world.

“Once you get over Bitcoin’s comfort zone, you start to consider a lot of different possibilities.”

Previously unconsidered issues have begun to emerge

He emphasised that as authorities’ interest in blockchain has grown, previously unconsidered issues have begun to emerge. A question can be, “At what point can a transaction be reversed?” “If we can, when can we freeze your funds?” and “if we can, at what point can we freeze your funds?” are now popular statements in blockchain discussions. “I never believed we’d be able to do it,” Hoskinson remarked.

Aside from that, Hoskinson emphasised the need of focusing on blockchain technology rather than profits. He emphasised that blockchain ensures fairness and equality for everyone, allowing small firms to compete.

“If all you care about is making money, you’ll miss out on everything that makes technology unique.”

Despite the fact that the Cardano founder did not specifically address decentralised autonomous organisations, he stressed that individuals must be part of the decision-making process for blockchain projects. DAOs, he suggested, might constitute the cornerstone of Web3 in the future. “If we’re truly decentralised,” Hoskinson observed, “we’ll have to figure it out on our own.”

What Do DAOs Actually Do?

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