What Is In Store For Cardano's Future
The CEO of IOHK Charles Hoskinson has confirmed on several occasions that IOHK is fully funded to complete all planned development until at least 2020. In the latest statement by the CEO, he added that due to the appreciation of Bitcoin, IOHK and Emurgo are sufficiently funded to commit to the additional roles too. Due to this, the loss of access to the ICO funds and ADA allocation of the Cardano Foundation shouldnât 100% limit the over the development of Cardano.
An open letter by IOHK and Emurgo also described the Foundationâs statements that it owned the trademark for Cardano were incorrect. If it was right then IOHK and Emurgo will be able to just continue to develop the technology and brand as originally planned, supported by the newly hired personnel which will perform the tasks that the Foundation couldnât.
As reported on Hackernoon:
âThe potential inaccessibility of the ADA allocated to the Cardano Foundation (~648M ADA) does have implications. Aside from the fact that these funds would be unavailable for community and ecosystem development as originally planned, they represent ~2.5% of the circulating supply.â
This is nowhere near enough to pose a direct threat to the security of the system which requires a >50% stake, however, the allocation would represent a big stake in the envisioned liquid on-chain democracy and could result in a influence on the future of Cardano.
While the monetary losses hurt, especially if the reputation damage may have long-term repercussions for Cardano. If all the negative effects could be prevented there still wouldnât be an actual reason to panic about the system, brand reputation also has an âemotional natureâ. While negative associations canât be fully prevented, if you are transparent and brisk when it comes to acting on surprise setbacks this will most likely help. A good example of this is when Charles Hoskinson appeared on the popular YouTube channel âThe Crypto Larkâ to go through the situation or doing a AMA to answer questions from the community.
âA few days ago, the Guardians of Cardanoâs Twitter account has been restricted, which some see as a sign that âwhatever is being pushed, itâs workingâ. The Guardians replied in this thread, saying âThey can silence our Twitter account but they canât stop us from pointing out the shameful silence of Parsons.â
What are your thoughts? Let us know what you think down below in the comments!