Charles Hoskinson, Co-founder of the Ethereum (ETH) and Cardano (ADA) blockchains, has stated that blockchains are ushering in a new era for both business and government administration, one he believes will be defined by leaderlessness.
According to Fortune’s The Ledger, Hoskinson, who is also chief executive of Hong Kong-based blockchain consultancy and research firm IOHK, believes his peers are venturing into uncharted territory that is ruled as a cooperative or “bottom-up” community, rather than by a leader or group endowed with special authority and powers.
He refers to this emerging paradigm as a “governance crisis,” noting that it is the first time the notion of a corporation without a CEO or a country without a president is being entertained. He called it a “very big challenge,” saying he thinks it will consume a majority of the 21st century for the cryptocurrency space.
Hoskinson was ejected from the Ethereum project in 2014 following early disagreements over the organization’s direction, but has since been involved in several major competing blockchain projects, including Cardano and ZenCash (now known as Horizen or ZEN). He has also been a vocal proponent of Ethereum Classic (ETC), a fork from Ethereum that now competes with that project.
Hoskinson has since come to view collaboration and cooperation as key to success, a stance which has informed his position on certain obstacles to blockchain businesses, particularly interoperability and achieving seamless compatibility between various ledgers.
He believes that in order for innovation to thrive, there must be agreement among blockchain technologists on foundational protocols, similar to how makers of consumer gadgets such as Bluetooth and Wi-Fi settled on open standards that allowed different devices to sync up.
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