Charles Hoskinson, the founder of Cardano (ADA), recently opened up about the possibility of implementing RLUSD and negotiating with representatives from Ripple
According to him, discussions with Ripple’s Brad Garlinghouse and David Schwartz are ongoing, but said they were advised to wait till March. Ripple wishes to complete its work with the New York Department of Financial Services (NYDFS).
“We talked to David Schwartz and Brad Garlinghouse. There is a strong possibility we can negotiate (RLUSD). Ripple told us to wait till March, as they just finished NYDFS,” said Hoskinson during a recent AMA session on Youtube.
Although the current market is down, Hoskinson is positive about Cardano’s performance. Cardano’s saw its price drop by 19% in 24 hours and 23% in a week. Nevertheless, he mentioned that Cardano performed relatively well in comparison with larger cryptocurrencies such as Dogecoin, Solana, and Binance Coin (BNB), whose value reduced even more.
Hoskinson added that a lot of hype surrounding Bitcoin was generated through high expectations regarding Donald Trump’s presidency, and therefore, the market became overexcited. In spite of such fluctuations, he is positive about the future of the crypto market in the long run.
Hoskinson also mentioned that blockchain technology will have a larger role in government frameworks in the future. According to him, in five years, voting, purchasing items, and identity management will utilize blockchain technology.
He even proposed that a Bitcoin reserve could be developed by the U.S. government, with Cardano potentially providing backing for decentralized finance (DeFi) for the government. That, in Hoskinson’s view, could make Cardano’s position even more powerful in the evolving blockchain ecosystem.
