While most crypto enthusiasts are focused on Bitcoin’s [BTC] epic comeback, the other half of the cryptoverse has shifted its interests to the technology side of it. The recent Cardano-Polymath partnership announced at the “Consensus 2019,” created a mix of buzz and commotion, in terms of the duo’s roadmap. In order to clear out the resultant confusion, Charles Hoskinson, Co-founder of Ethereum and Founder of Cardano, conducted a livestream on YouTube, explaining the intent behind the collaboration.
The video started with Hoskinson explaining Polymath’s involvement in conducting “over 120 security token offerings on Ethereum network,” and how its growth has been crippled due to existing compliance issues. He also supported the Cardano-Polymath partnership by saying,
“I firmly believe we’re going to need different standards and ecosystems. Cardano intends to be a financial operating system for people who don’t have one.”
Additionally, Hoskinson explained his belief in changing existing standards, including decentralized identifiers, and standards for metadata and interoperability. While the crypto-veteran explained his version of changes that are to be implemented by the world, he added,
“(As a result,) Certain marketplaces will probably be either black listed or less popular with, but it’s the moral and right thing to do. It’s just important for the consumer to be informed that when they hold an asset and have total control over it.”
The livestream also focused on Cardano’s partnership with Atala, which is currently running a pilot program with the pre-discussed framework. With respect to this particular partnership, Cardano’s primary role is to act as an auditor/issuer and maintain transparency and control for users. Finally, Hoskinson concluded the video by announcing his excitement at being part of a group that is “making new standards for the blockchain space and for the next generation of finance.”
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