Charles Hoskinson, the founder of Cardano, gave a keynote speech on the first day of this year’s Binance Blockchain Week, held at the Dubai World Trade Centre in the United Arab Emirates.
It has been reported that Hoskinson used his keynote to discuss topics like Bitcoin (BTC), Web3, and philosophy, bringing up topics like what happens next when the community moves forward from the comfort of Bitcoin and toward centralization.
“As blockchains become more advanced and more powerful, we have to start making some difficult and uncomfortable philosophical decisions.”
However, he raised questions about Web3 and what the lines are between decentralization and regulation. “At what point do you cross the threshold where you’re no longer decentralized? You’re no longer the arbitrator of trust?” asked Hoskinson of an audience made up of blockchain enthusiasts from all over the world.
He further added:
“When you move past the comfort of Bitcoin, you start entertaining many other ideas.”
The report said that Hoskinson pointed out that since regulators have started to look at blockchain, questions that did not use to be considered have started to surface. Ideas like “At what point can we reverse a transaction?” and “If we can, at what point can we freeze your funds?” now pop up in blockchain discussions.
“I thought we could never do that.”
Apart from this, Hoskinson also emphasized the importance of focusing on blockchain technology and not just the profits. He underscored that blockchain brings fairness and equality to everyone, giving smaller entities a fighting chance.
“If you’re just here to make money, you lose all the things that make the technology special.”
Thus, he described a future where DAOs may be the foundation of Web3. “If we’re truly decentralized, we have to figure this out for ourselves,” said Hoskinson.