Charles Hoskinson Predicts Many More Nation States Will Adopt Crypto As Part of Monetary Policy

Cardano founder Charles Hoskinson says that more nations are likely to adopt crypto after El Salvador became the first country to recognize Bitcoin as legal tender.

The chief executive of IOHK, the firm behind the blockchain platform Cardano (ADA), says crypto has clearly won the market over.

“Over a hundred million people, the majority of people under the age of 25, have a positive view of cryptocurrencies and a lot of them own them [some], that’s the future.

Their children will grow up with those values and beliefs about the nature of money, so in a certain respect, we, as an industry, won.”

Hoskinson’s comments come after El Salvador’s new law took effect on Tuesday, making BTC an official currency.

“In the coming years, many more nation states will use crypto as part of their monetary policy either as reserves in their central banks using cryptocurrency rails for central bank settlement…as El Salvador has done, and make it the national currency.”

Hoskinson adds that crypto is already transforming the world.

“[Crypto] legitimizes the belief that we should be in control of the money in our pocket and we should be ultimately in control of how that money moves and who receives it, not trusted third parties who we’ve never met, know very little about and, in many cases, are adversarial to the people of the country.

Crypto is definitely not only here to stay. It’s very clear that crypto is going to change the world and already has in many ways.”

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Featured Image: Shutterstock/EB Adventure Photography