Charles Hoskinson, CEO and founder of IOG company responsible for the development of Cardano, gave a speech at Binance Blockchain Week held in Dubai. Hoskinson, who stated that the blockchain technology attracted the attention of the internet in the 90s, said, “Cryptocurrency exchanges will have hundreds of millions, perhaps billions, of users in the next few years.”

Cardano founder Charles Hoskinson gave a speech at Binance Blockchain Week in Dubai. Stating that a new era has been entered, even the people in the farthest corner of the world have started to own Bitcoin, Hoskinson said that decentralized finance protocols will begin to serve the mainstream financial world in 2-3 years. Saying that especially large exchanges such as Coinbase currently have tens of millions of users, Cardano founder commented that this number could reach billions in the next few years. Here are the important parts of Hoskinson’s speech:

“Those who do not know each other trust each other”

“We are at a time when we are starting to see how valuable work we are doing as an industry. We are talking about the token of the week now. We’re talking NFTs, decentralized finance. We make people who don’t know each other trust each other. Blockchain technology is already a system built on trust. Now, small countries affected by countries such as the USA, China and Russia have an equal say. It has the right to access the system. That’s what we do as an industry.”

“States also got involved”

“Currently, we are leaving behind the 13th year. This system no longer works for a few people, but for millions or even billions of people. Billions of transactions are processed daily. States want to regulate cryptocurrencies. Here we saw El Salvador. But there are also those who do the opposite. ‘Can we reverse a transaction? Can we freeze funds? Can we remove the anonymity?’ they think. Maybe we can.”

“The Internet gave us Web 2.0”

“After the internet came before us, governments came onto the scene again. They also wanted to regulate the internet. In the 1970s and 80s, it was discussed how information could be transmitted to the whole world instantly. In the 90s, we came across the internet and it provided it. Then the problem of how to manage the Internet arose. Advertising emerged, involving the consumer society. And that gave us Web 2.0. So what did Web 2.0 give us? It gave Facebook, Google, Amazon. These giant companies, which own the data that gives you access to the internet, have created a multi-billion dollar industry.”

“There is no leader in Web 3.0”

“Unlike Web 1.0 or Web 2.0, Web 3.0 has no leader. There is no rule book. If you’re in this industry just to make money, you lose everything that makes this technology special. Because this industry is a difficult place. Decentralization is difficult. You don’t like 5 people at a 6 person table but you are there to decide. It doesn’t create a nice environment.”

“Protocols will begin to serve the mainstream”

“We are in an industry that has grown from a group of a few to millions. We are entering a new era. Protocols are now reaching the level that can meet the needs of millions or even billions of people. High-performance Proof-of-Stake, cross-protocol bridges, snarks… These are all on the horizon. In 24 to 36 months, these protocols will begin to serve the mainstream.”

“Exchanges will have billions of users”

“Do you remember, in the 90s, the internet also attracted the attention of the whole world. When you look at Coinbase and other big companies, they all have 10 million users right now. This number will be hundreds of millions, maybe billions, in a few years. In other words, we are in a period in the 90s, when we attracted the attention of the whole world, like the internet.”

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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