{"id":30910,"date":"2022-06-24T17:41:04","date_gmt":"2022-06-24T21:41:04","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=30910"},"modified":"2022-06-24T17:41:16","modified_gmt":"2022-06-24T21:41:16","slug":"cardano-founder-defends-uses-of-blockchain-before-congress","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/cardano-founder-defends-uses-of-blockchain-before-congress\/","title":{"rendered":"Cardano Founder Defends Uses Of Blockchain Before Congress"},"content":{"rendered":"\n

Cardano founder Charles Hoskinson defended the use of blockchain before the congress claiming that blockchain will bring transparency<\/p>\n\n\n\n

\"Cardano
Cardano Founder Defends Uses Of Blockchain Before Congress<\/figcaption><\/figure>\n\n\n\n

Cardano Founder Defends Blockchain<\/h2>\n\n\n\n

On Thursday, the U.S. House Subcommittee on Commodity Exchanges, Energy, and Credit heard testimony from Charles Hoskinson, the CEO of Input-Output Global (IOK)<\/a> and the creator of Cardano. <\/p>\n\n\n\n

He informed Congress of the benefits of blockchain technology and possible forms of responsible industry and technology regulation.<\/p>\n\n\n\n

Blockchain Can Give Transparency<\/h2>\n\n\n\n

Hoskinson claimed that distributed ledger technologies can give existing sectors transparency in his prepared speech on Thursday.<\/p>\n\n\n\n

For instance, the agriculture sector might profit from using blockchain to oversee and manage its economic activities. Hoskinson used the firm BeefChain as an illustration; it enables customers to track the origins of their beef products. <\/p>\n\n\n\n

As a result, people can eat beef with more assurance knowing that the producer was reliable and healthy.<\/p>\n\n\n\n

Principle of Blockchain<\/h2>\n\n\n\n

A “global community of engineers” claimed in a letter to Congress in May that there were only a few legitimate uses for cryptocurrencies and blockchain<\/a>, such as fraud, crime, and pollution. A group of human rights advocates, including Yeonmi Park, responded shortly after with a letter underlining the financial independence that Bitcoin may offer.<\/p>\n\n\n\n

Hoskinson<\/a> continued by describing the “principles” of blockchain, which in his opinion should serve as the foundation for effective regulation of the technology. \u201cWe ought to have the humility to admit that innovation makes specifics difficult and thus focus on principles instead,\u201d he said.<\/p>\n\n\n\n

\n\n\n\n

\u201cPrinciples-based regulation, which is more flexible, can adapt and evolve alongside the nascent technology without strangling an industry that has only started and forcing companies abroad,\u201d <\/p>Charles Hoskinson<\/cite><\/blockquote>\n\n\n\n

\n\n\n\n

Hoskinson advocated against “category-based regulation” in this regard because it would rely on “centralized actors” for reporting and disclosure. He believed that this wouldn't be a good way to control a decentralized environment.<\/p>\n","protected":false},"excerpt":{"rendered":"

Cardano founder Charles Hoskinson defended the use of blockchain before the congress claiming that blockchain will bring transparency Cardano Founder Defends Blockchain On Thursday, the U.S. House Subcommittee on Commodity Exchanges, Energy, and Credit heard testimony from Charles Hoskinson, the CEO of Input-Output Global (IOK) and the creator of Cardano. He informed Congress of the […]<\/p>\n","protected":false},"author":29,"featured_media":30914,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[75],"tags":[5574],"class_list":["post-30910","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cardano","tag-cardano-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/image-189.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/30910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=30910"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/30910\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/30914"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=30910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=30910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=30910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}