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Cardano CEO Spoke About The Loss of Decentralized Crypto Assets

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Cardano CEO spoke about the loss of decentralized crypto assets. Charles Hoskinson, CEO of Cardano, believes that negative identifiers (DIDs) are necessary to ensure compliance with changing definitions of anti-money laundering regulations.

He responded during a Q&A session at Web Summit 2022 released in early November 2022. According to Hoskinson, centralized exchanges such as Coinbase and Kraken may be able to prevent the movement of your cryptocurrency to their exchange in compliance with the standards set by the country’s anti-money laundering watch, Group. of financial action, such as travel law. .

If the transfer of assets exceeds $ 1,000 USD or € 1,000 EUR, the service provider is required by the travel law to “hold and transfer the originator and information that will directly benefit the security and transfer VA.

Cardano CEO Hoskinson raises the stakes in the nonprofit crypto industry

According to Hoskinson, many large companies are desperately looking for ways to create intangible identities. Hoskinson predicted that within two years, this department will be among the most competitive in the industry. It promises: “IT’S GOING TO BE ONE OF THE MOST COMPETITIVE AREAS IN THE SPACE IN THE NEXT 24 MONTHS.”

He thinks that this dispersed organization has the best chance to win. MAS has completed the first pilot program for DeFi using Polygon and Aave Blockchain. Cardano’s co-founder stressed the need for a seamless economic identity.

He explained: “IT’S ABOUT LIFTING PEOPLE UP OUT OF A CIRCUMSTANCE WHERE THEY’RE BEHOLDEN TO AN INTERMEDIARY WHO BASICALLY GETS TO DECIDE THEIR ENTIRE EXPERIENCE”

Asked on Twitter about the viability of accepting Dogecoin payments, Hoskinson replied that it would be difficult due to the small number of cryptocurrency transactions. Since Binance invested $500 million for Musk’s purchase of the social networking site, he is proposing to accept the BNB chain. Hoskinson announced last month that DOGE and Twitter may one day be included.

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