During a discussion with David Gokhshtein, Cardano’s architect Charles Hoskinson illuminated his significant connections with the US government under President Donald Trump. Throughout the dialogue, Hoskinson disclosed ongoing legislative activities, possible blockchain partnerships, and perspectives on how Cardano could support large-scale systems such as national elections.
Cardano Founder’s Connections To US Politics
One of Hoskinson’s most notable statements tackled the possibility of a government-level blockchain implementation. He specifically mentioned how a theoretical choice by the US government to utilize Cardano for elections could have significant ramifications: “If the US government were to establish a blockchain solution, let’s say they opted for Cardano to conduct elections, then you’re accumulating ADA to secure the resources to fund your election system—a different aspect than a speculative interest.”
During the dialogue, Hoskinson also hinted at his consultative positions in Washington, D.C., mentioning conversations with both lawmakers and regulatory agencies: “I’m providing counsel to individuals like Senator Tim Scott, as Tim made public yesterday, among others.”
He proceeded to share interactions with the Commodity Futures Trading Commission (CFTC) and several congressional representatives: “I met with one of the CFTC commissioners, multiple members of Congress, and had discussions with Congressman Warren Davidson. There’s a strong possibility we will pass a stablecoin bill within 3 months and complete a market structure bill by August.”
Hoskinson conveyed a positive outlook on this legislative movement, emphasizing the collaboration between the White House and various stakeholders: “We’re pleased that the White House is doing their part, and it’s enjoyable to be on the legislative front and collaborate with them. Hopefully, they’ll find common ground with the bicameral working group and all elements will align.”
Delving further, Hoskinson outlined an ambitious schedule for policy measures: “We’re planning to bring an excellent group of people together in the senate and engage in fruitful policy discussions surrounding the market structure bill and start drafting it.” He noted that various “non-financial applications” of blockchain potentially extend to defense, supply chain, and more.
In the area of digital currencies, Hoskinson underlined the current administration’s evident priorities: “The White House is doing its utmost to assist and expedite the process. Stablecoins first, market structure second. There’s around $230B of stablecoins currently in circulation, constituting approximately 76% of value transactions in cryptocurrency.”
Hoskinson also commented on World Liberty Financial (WLF), a cryptocurrency venture established by President Trump and his sons, which introduced a stablecoin named USD1 this week. Hoskinson candidly shared his first impressions: “Well I believe they are fantastic individuals […] the first occasion I truly had a chance to converse with Don [Jr] […] I really [found them] quite pleasant and… we’ll see how that unfolds, where that connection leads […] I have not really interacted with them previously and hopefully, there can be some future potential.”
He elaborated on how WLF could potentially partner with Cardano’s ongoing initiatives, particularly those aimed at lending in Africa: “For instance, one aspect I would love to examine is… if there is a way to enhance the available liquidity for our excellent lending portfolio that we have in Africa […] presently we are somewhat attempting to […] contend with that […] it might be quicker to market to do that through what WLF is pursuing […] so that could be possibly a course for USD1 […] it would be truly beneficial to see if there’s a way to incorporate that stablecoin into the Cardano ecosystem.”
At the time of reporting, ADA was trading at $0.70.
Featured image sourced from YouTube, chart from TradingView.com
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