EddieJayonCrypto
17 Feb 25
Cardano founder Charles Hoskinson has commented on the controversy surrounding the Libra token, suggesting that Argentinian President Javier Milei was not directly involved. Hoskinson believes that Milei's advisors may have misrepresented the project, leading to a surge in its value followed by a dr...
Cardano founder Charles Hoskinson has commented on the controversy surrounding the Libra token, suggesting that better decisions and due diligence could have prevented the controversy. Hoskinson believes that Milei's advisors may have misrepresented the project, leading to a surge in its value followed by a dramatic drop and allegations of insider withdrawals. The situation has triggered legal scrutiny and damaged Milei's reputation, with potential implications for Argentina's blockchain future. Hoskinson expressed frustration at the missed potential for blockchain-based solutions in Argentina due to the scandal's impact. He also highlighted concerns about political instability and deregulation in Milei's administration, casting doubt on long-term blockchain partnerships with the Argentine government.
Meanwhile, Hoskinson added that Argentina had the potential to be transformed through blockchain-based solutions. He added a few examples, such as voting systems, government budget tracking, supply chain management, and digital identity systems. Nevertheless, the Libra token controversy has severely damaged blockchain’s reputation in Argentina, creating a toxic perception of the technology. Hoskinson stated that even before the Libra scandal, his team had concerns about working with Milei’s administration due to political instability and deregulation.