Creator and founder of Cardano (ADA) Charles Hoskinson expressed his opinion in a YouTube live stream on May 11 on the present status of the cryptocurrency space and larger markets in general as bearish pressure continues to stay aggressive as a result of inflation, rate hikes, and rising living costs among other factors. Analyzing the challenges imposed by decentralization, Hoskinson stated: The ADA founder also emphasized the impact this has on the global economy since institutions seem to be toying with people’s money. At the same time, the war in Ukraine severely affects economies en masse.
The bogeyman of the day is used to justify inflation
Furthermore, Hoskinson noted that as long as those same institutions and governments continue to use the issue of the day like the Ukraine war, Covid, and so on to justify inflation or recession when they cannot be intellectually honest that printing trillions of dollars each year out of thin air is not going to have repercussions, they are not being truthful. It’s worth mentioning that he highlighted the state of the deteriorating environment; meanwhile, living standards are going down despite the fact that technology social progress, and education are improving. Thus, Mr. Hosksinson stressed where crypto comes into play to battle these mitigating factors: In concluding positive remarks, the ADA creator said that he intended to keep working and see his platform continue to develop significantly, with a growing ecosystem that is being built and Vasil Hard Fork expected for a June release. Watch the video: Hoskinson says the global economy ‘will collapse’ as it ‘cannot sustain itself’
