Fri. Jan 31st, 2020



Charles Hoskinson: Cardano Can Beat Facebook!

3 min read
Charles Hoskinson: Cardano Can Beat Facebook!

Charles Hoskinson thinks Facebook’s Libra is not competing with Cardano.

The crypto money market has been going through a lot of activity, especially in the last week, with some sub coins taking part in the rise led by Bitcoin (BTC) and others like Cardano (ADA). The leading cryptocurrency rose to $ 13,000 yesterday, and experts are already making predictions about the BTC’s next direction.

The leading cryptocurrency, Bitcoin (BTC), continued its upward trend, especially in April and May, after a few weeks of pause, breaking first $ 10,000 and then $ 11,000 last night, a critical level of $ 11,700.

Charles Hoskinson, one of Cardano’s top executives, recently talked to Finance Magnates about the partnerships of the project as well as the key issues of interest to investors. In recent years, the famous name has made incredible contacts in countries such as Mongolia, Caucasus, and Georgia and has signed various partnerships.

Facebook is Not Competing for Cardano

 The experienced founder, who made several statements about the most talked about cryptocurrency Libra of the last days, said:

I live in this market. I can tell you that the US government, the most powerful institution in the world, is having a hard time paying Ethiopia. If even they find it hard, how will a private company do it?

Criticizing Facebook’s payment system, Hoskinson stressed that the social media platform doesn’t actually recognize countries and that the only advantage it can offer people is a lower transaction fee. For example, the CEO of Ethiopia said that he lived here for a year and a half and trained a small group of developers.

Hoskinson recently emphasized that he did not see Facebook as a competitor, and heralded that they would soon launch their highly anticipated networks.

QuadrigaCX’s Scandals Do Not Stop

QuadrigaCX CEO, one of Canada’s largest cryptocurrency exchanges, even though it was closed down at the time, had occupied the agenda of the ecosystem in recent months. After the death of the CEO of the stock market, no one had access to the funds in the cold wallets, and this brought the end of the stock market.

According to the statements made by the court, the stock exchange CEO Gerald Cotten has used customer funds to trade in other exchanges for years.

First Error

The cryptocurrency ecosystem is accustomed to misunderstandings, violations, and scandals. But even in this case, the story of the QuadrigaCX is a big event.

According to Bitcoinist, court-appointed observer Ernst and Young published the fifth report yesterday. According to the report, even when the QudrigaCX is alive and the processes are running smoothly, there are some disturbing events in the background.

When looking at the infrastructure of the company, almost all transactions are managed by the stock founder Cotten. Just as Cotten didn’t allocate transactions as tasks and internal controls, it looks like he didn’t allocate stock-market funds into QuadrigaCX funds and client funds.

There was no accounting record in the system, and Cotten probably thought that his actions could not be recorded.

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