• Charles Hoskinson said in his opening speech at the World Economic Forum in Davos that the dollar is being replaced as a world reserve currency.
• A new international currency that is fair to all, not only for the big financiers, but also for anyone who has little or no money will enter the market and perhaps the new world currency is Cardano. 

The founders of cryptocurrency projects often pursue similar goals and want to achieve financial justice and freedom for all actors involved in the system. Cardano founder Charles Hoskinson sees the world in turmoil and predicts that a new international digital currency will replace the USD in the long term:

Who do you trust, how much do you trust them and why do you trust them? This is the century in which the USD will be received and will no longer be the world reserve currency. Do we want to replace it with another one or maybe we should create an international standard. And again, how is this going to be controlled so that it is as good as for Kyrgyzstan or Liechtenstein as for the United States?

 

Cryptocurrencies are decentralized financial systems based on open source, in which anyone can participate for free without having to meet important requirements. In addition, they provide the same benefits to all participants and do not reward an elite circle of people or companies that are then the only ones in the system that benefit. Hoskinson says:

 

This is what our industry is talking about today: killing the intermediary of need, pushing power to the edges and building systems that are equally fair to the least among us, not the greatest among us. That is what we want.

 

Hoskinson describes that Bitcoin did not consume much electricity at the beginning, in 2009, but already uses more electricity than Switzerland as a whole. If the adaptation of Bitcoin continues, Bitcoin could consume more electricity than all of Germany, because there is no update in the protocol that can solve this problem.

Cardano and other competitors that rely on the consensus of the decision-making test do not need more than 10 kilowatts of electricity per year, which is equivalent to the consumption of a larger house, to operate a complete global financial system. This decisive advantage, as well as the processing of cross-border transactions in almost real time and at low cost, make cryptocurrencies clearly superior to traditional remittance systems. Hoskinson statements: 

Much better performance, worldwide needs less energy and becomes less energy intensive over time. That is innovation. You have to make a decision if you want to be a participant in the financial system of the future of the world or just a cash observer.

The technology of blockchains is making its way in many sectors of the world economy and is considered an important technical innovation of the 21st century. However, the real impact on governments, the financial system and the population will only become apparent in the coming months and years.

The IOHK wants to take Cardano to the mainstream

Hoskinson recently announced that Cardano has planned a great marketing campaign for this year to bring cryptocurrencies to the mainstream. Cardano will work with PricewaterhouseCoopers to continue marketing the project.

At the World Economic Forum, Cardano was able to win numerous new partners with Finka Advisors, GenTwo AG or the Uzbek and Georgian governments to investigate and develop more use cases of the Cardano-based blockchain.