Charles Hoskinson, Cardano founder, warned of an impending decentralized sector identity war as the crypto sector moves towards mass adoption.
Speaking at the Web Summit 2022 on November 24, he said the battles would intensify over the following 24 months. Hoskinson believes if the sector gets decentralized right, it will imply a bleak future for the crypto field. He said decentralized identity would be huge after the intelligent contract wars were over.
The Cardano founder outlined that the next 24 months would be one of the most competitive areas in the industry. Hoskinson said with the battle smart contracts over, commodities have emerged and a lot is happening. He added that many entities are getting involved covertly and for the betterment of the industry. This will give rise to the need to ensure that whoever wins is decentralized.
Hoskinson said it’s important to preserve the fundamentals of the crypto industry, and the winner of the conflict should be decentralized. He stressed that the war’s winner should be decentralized to safeguard the crypto sector’s principles. The Cardano boss had earlier expressed frustration about most crypto projects launching publicly on the grounds of being decentralized. Hoskinson said it in mere words and added that decentralization is a measure of resilience, a measurement of control, and reliability. He emphasized that its incumbent on the way that protocols are designed.