Cardano [ADA]’s Charles Hoskinson opens about the recent ecosystem disruption

On 15th October, Charles Hoskinson, the CEO, and Founder of IOHK opened up about the split between IOHK and Cardano Foundation [CF], in an interview with The Crypto Lark. Here, he stated that the Cardano ecosystem was planned to be supported by three pillars, namely, IOHK, Cardano Foundation, and Emurgo. However, the tensions between the parties led them to part ways.

Hoskinson stated that the Cardano Foundation was formed to handle tasks such as community management, community outreach, regulatory outreach, lobbying and more. He then added:

“…as well as things like just being that golden source of truth for information – What is Cardano, why is it good? Who should use it? If there is a hack or an event, having a common place to go.”

Subsequently, the CEO explained that Cardano Foundation was operating on two-levels, mid-level, and executive-level. Here, the executive level had four members on the CF board at the time when the foundation was formed. However, IOHK and Emurgo witnessed that the board was diminished to just two people over the past 15 months.

He continued to express the disappointment and frustration built up within the Cardano ecosystem due to the dysfunction of CF. In his words:

“One of our frustrations over the last two years has been that the foundation is not really fit for purpose in the way that it’s structured the governance it currently has.”

Hoskinson also cited an event where the Cardano Foundation denied its duty and backed out from a trip to Ethiopia for the purpose of Cardano’s first MoU. Regarding this, he revealed that IOHK received an email from CF after the Ethiopia trip. According to Hoskinson, CF began using the Cardano trademark in unethical ways that were counterproductive for the ecosystem. He stated:

“When we went to Ethiopia, we invited the foundation to attend they agreed up until a week before we went they were gonna go with us. So we were going to go to Ethiopia – the first government in the world to acknowledge Cardano sign an MoU. They [CF] backed out, we said okay so IOHK signed it and then we got just an incredible email, basically saying hey you didn’t tell us you were going here.”

This is where IOHK decided to depart from its association with the Cardano Foundation, stated Hoskinson.

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