Governance and Independence of Cardano

hi everybody this is Charles hoskinson broadcasting live from warm sunny Colorado always warm Always Sunny sometimes Colorado hey the point of today's broadcast is that I read a very fun article that just came out about an hour ago from coin Telegraph and it's entitled cardano foundation will preserve its independence says new CEO from our good friend Michael kov and it's your standard coin Telegraph special these are always fun articles and I figured out let's talk talk about governance and Independence and let's talk about how things go when you create a decentralized ecosystem what's so amazing about it is that every day the ecosystem gets to a point where you as a Founder are no longer relevant in that you're not necessary for that ecosystem to survive so Rich hickey for example he created closure a programming language and for a long time it was a toddler if you didn't feed it it would die it lived in his basement on a laptop and then somewhere along the the way he releases it to the world and now everybody's using closure and while he has a custodial company cognitech that goes and builds up closure and he really cares about it and works on it it's as much the communities as it is his it's the same for Martin adki with Scala it's the same with Len tral for Linux you release things into the world and there's a veneration as a Founder but there's no special rights beyond that concept of first amongst equals and the cool thing about where cardano has gone is that we went from an idea on a white board things like those glass boards to actually a real ecosystem with different constituencies and what's nice about having different constituencies is that each of those constituencies have different visions and tradeoffs and Fred is a really good guy and he mentioned this in the interview he did with Michael where he said hey sometimes Charles is going to go left and I'm going to go right and the the reality is that should happen it needs to happen for us to get to the next level I created my company not to make money it's great to make it but I have enough of it I don't really need to worry about that I created my company because we believe in the vision of economic identity giving people a decentralized economic identity that has values principles behind it so every piece of infrastructure that we work on we work on it with principles and cardano was no different in that respect and we said we would like this to be the platform that when we're doing deals with the ringa or with Sudanese refugees or we're doing deals in Rwanda wherever it might be whatever the particular circumstance it is this is the platform that's going to work with us and enable that now that's my personal mission and my company's Mission Vision and goals and it's why we have so many amazing people at IO Global who wake up every day and are very passionate guys when you talk about the best they can work for the best you're never going to be able to motivate them with money there's always someone who can pay more you motivate them with a belief and philosophy that the places you're going the things you're doing the vision you have is going to make the world a better place that there's real reason and meaning behind the work that they have that's the key and so we try to do that and that's what we tell our people but cardano is the Internet it's open infrastructure so while that's my story and my vision and where I want to go and the types of product and services we're going to construct there are people who say wait a minute here this blockchain is going to be a Powerhouse for the Fortune 500 this blockchain is going to really kick all these people who want to do commercial blockchains in the teeth and and take a big bite out of Cordon fabric sandwiches there's a lot of stuff here and so they perhaps want to go and pursue that direction and there are other people look at this and say this is going to be the perfect thing for my video game and another person's going to look at that and say this is the perfect thing to help Implement a track and Trace solution because I have adulterated meat in my supply chain I need to solve that who's right we all are that's the point of Independence the protocol does not give special permissions and Privileges and power to one constituency over another it's open for you all or else it's open for none that's really why we built things the way we did and ultimately the arbitrator of the priorities and the direction and these other things we like to believe were important the Charles hoskinson of the world and others and we're not at the end of the day it's you the community that will decide people often ask like when does my involvement end for the first generation it's when you we are in a position where you the community have that power and that capability those tools exist and at that point it's my job to pitch to you the community the very smart Community where we like to take it and what value comes out of that and ultimately you'll decide and it's not us alone there are so many great companies that are working with us runtime verification well typed twe aex vacuum Labs just to name a few and there's dozens more throughout the years that have come and gone are still here or they do very specific things everything from making sure your Ledger device Works to building a beautiful front end for something and what'll happen when we enter next year that'll inre increase dozens more will come and we'll have just like Linux has with 80 plus companies doing core work the same will be the case for cardano and we'll have a certain veneration because we created it but we don't have any special privileges in that respect and that's what I think Independence means in a certain respect it's not saying that there's a new governing body in town and they're going to Lord and dominate and tell people where cardano is going to go I would be the first to Fork that that protocol and let them burn themselves to the ground and everybody who's trying to pursue proprietary software is learning that in our industry how are those patents working out those who pursue them how's your adoption working out no it's rather to be a Shepherd a custodian making sure that there's a golden source of Truth and that we have the right tools for you the community to work effectively together I'm a big fan of the cardano effect I think it's a great piece of work and what was so cool to see is how much push back is happening on ideas scale about the proposal that they put in because they said we're the cardano effect everybody loves us they submit their bid and a lot of people are saying work harder you have to justify why you want this money and that's just amazing if you really think about it it really is it's it's these guys who have such a profoundly good reputation and relationship with the ecosystem and even there are not above justification in that respect and of course I assume they will refine and iterate their proposal and there'll be a negotiation there and by the time it gets to a vote I suspect it'll be a much stronger product for them and for us as a community and that gives me a lot of Hope as we work to the Future and we looked at 2021 and 2022 and these other things about the types of fights and negotiations we're going to have and where the friction is going to come from so that in essence is an example of a cryptocurrency at its best a currency that takes its Community seriously a cryptocurrency that believes in the best in people and believes that when we work together we can always achieve greater things than when we work alone and you're with me on that journey together there's a lot more work to do on our side and we've certainly achieved quite a bit and in the coming weeks and months you'll see a lot of cool stuff we've been thinking about for years rolling out but what is most exciting is the next five years because that is the time it's going to take to get us to really be the platform that will Bank the unbanked we will get there one way or another and I think cardano has been built with a unique advantage to make that happen because it's so appealing to governments it's so appealing to the developing world and to other people and there's just so much infrastructure we've been building that works so beautifully with this the hydras of the world and the prisms of the world and other ideas for example Oracle and so forth so there's a a lot of work to go and a lot more to do but it's nice to see that the foundation's waking up and it's starting to develop its own identity and personality and like us they'll have their own vision and Mission perhaps it'll be more oriented on the business side than the economic identity side and that's great because that means we'll get more use and adoption in those circles and each and every person who comes on board values all of us and proves the system for all of us and I don't think we'll have much conflict there and I think there's a lot they can provide in terms of oversight governance audibility and so forth and these are discussions that will of course happen and I like working with Fred he's a really good guy as I do like working with Ken Kodama as I do like working with Nico and so many other people in this ecosystem they've all become treasured friends in that respect and some come some go but I remember all of them and I enjoy all of them and in the coming months some will enter some will exit in the coming months we're just going to keep chipping away at things but I'm a lifer in that respect and I I think it's going to be permanently in our portfolio because as again everything we do is about our mission and we finally have something where we actually see a path to getting the banked the unbanked banked we finally see something we have a path where we believe that we can actually deliver a new way of doing business for the world I can't let that slip through your fingers it would haunt me for the rest of my life and I know that people have invested and put so much effort in terms of time and their brand and their engineering capabilities and scientific capabilities they want that reality to exist too as do you the ecosystem so thank you all for coming I truly do appreciate it thank you all for listening and I wish these coin Telegraph articles would be a a bit a bit more fair and de deep it's it's not nice when you get a little snapshot of things there's so much Nuance behind the way that we do things and there's so much depth in the way that we do things and we care so deeply every detail Matters from where we put a button in the user interface to a particular parameter and a formula to how we incentivize Behavior to how we structure experiments to how we ask questions of what can we do to improve things and that's never reflected fairly and so whenever I see an article that I say come on let's be better I always have to make a video every now and then to give a more nuanced view of all of it this ecosystem belongs to you the community and we're working real hard to make sure that that means something for everybody and we can prove the Skeptics wrong the vitalics and the other people who say that onchain governance is a bad idea I think it's the only idea that matters so thanks to you all for listening talk to you guys soon cheers