Charles Hoskinson, co-creator of Cardano (ADA), addressed the recent shift in sentiment surrounding Cardano in a post on X on October 10. According to Hoskinson, the negative discourse is not indicative of failure but rather a consequence of the implementation of the Voltaire governance phase. He suggested that long-standing issues, such as unmet roadmap objectives, unfunded strategies, and partnerships that haven’t been formed, are coming to the forefront now that the ecosystem is transitioning to a more adaptive governance model under Voltaire.
Hoskinson acknowledged that the ecosystem has not previously scaled to address the evolving needs of the community, but he expressed confidence that Voltaire’s governance framework is capable of addressing these concerns. He shared that he, too, has a lengthy list of unresolved issues that could not be tackled prior to this shift in governance.
Specifically, Hoskinson mentioned that working with a Cardano Native Asset (CNA) — as part of the Midnight project — has made him acutely aware of challenges such as liquidity and asset custody. While he plans to continue contributing to these areas, he emphasized that the new on-chain governance model will also take on the responsibility of solving these issues. He referenced stablecoin support as another area where the governance structure will play a vital role in ensuring growth and security.
Hoskinson contrasted Cardano’s open governance approach with other cryptocurrency projects, stating that Cardano’s commitment to transparency and public decision-making distinguishes it from others in the space. According to Hoskinson, while other projects may rely on opaque “backroom deals,” Cardano operates in a manner that is transparent to its global community, which spans over 100 countries. He stressed that the ecosystem’s governance is dedicated to long-term progress and integrity, standing in contrast to short-term market manipulation or companies seeking financial benefits.
Hoskinson concluded by reinforcing that Cardano is not in decline but is instead thriving and growing. He asserted that Cardano remains dedicated to its goal of being a genuine cryptocurrency, as opposed to aligning with financial giants like BlackRock or catering to the preferences of Wall Street, whose focus he criticized as being driven solely by financial gain.
On October 8, Cardano Ambassador Mauro Andreoli announced via the social media platform X that he and Lucas Macchia had successfully signed the first legally enforceable contract on the Cardano blockchain. The contract, compliant with Argentine law, marks a significant step toward the integration of blockchain technology into the legal realm. Andreoli emphasized that this agreement can be upheld in court, allowing any violations to be pursued legally, with obligations fulfilled in Cardano’s native cryptocurrency, ADA.
The contract was a loan agreement between Andreoli and Macchia, valued at 10,000 ADA, with a four-month repayment term and a 10% interest rate. According to Andreoli, the transaction was notarized using a unique transaction ID, which is referenced in the legal documents attached to the agreement. Although Andreoli expressed excitement about this milestone, he mentioned that the full details of the contract remain private, as they include sensitive information such as his ID number, home address, and wallet information.
Andreoli highlighted the importance of this event, calling it a major milestone for both the Cardano ecosystem and blockchain technology in Argentina. He believes that this legally enforceable smart contract paves the way for further use of blockchain in legal agreements, establishing legal precedents and simplifying future transactions. This development could potentially encourage the widespread adoption of blockchain-based agreements across various industries.
He also discussed the adaptability of the framework, suggesting that the same structure could be applied to other types of contracts, such as real estate leases, purchase agreements, and other business transactions requiring legal support. The existing legal framework in Argentina, combined with the flexibility of blockchain contracts, provides a solid foundation for future growth and development in the space.
Andreoli further pointed out that this milestone doesn’t just benefit individuals but could also open doors for businesses in the Cardano ecosystem. He mentioned companies such as NMKR, EMURGO, Lago, and PALM Economy, which could use this development to establish legally sound operational frameworks, enhancing trust and credibility in blockchain-based business models.4o
