Charles Hoskinson, founder and developer of Cardano, predicts that NFTs will be the target of regulators in 2022 and beyond, as governments and regulators will restrict token-notes (NFT), much like they regulate cryptocurrencies and ICOs.
Charles Hoskinson on Cardano and the industry
Charles Hoskinson, the founder of Cardano – one of the leading blockchain projects in the world – had his say on the last day of 2021. He went live on a one-hour YouTube video and talked about Cardano’s past, present and future and the industry as a whole.
One of the things Hoskinson mentions in the video is that 2022 is likely to be one of the best years for the industry, and Cardano in particular.
He also pointed out that the market is growing too fast and that “we would view it as an industry where the consequences of such a rapid size are for better or for worse”.
He expressed his confidence that 2022 will be one of the best years for Cardano and stressed that the system had made great strides with its member organizations and community projects.
The mathematician also said that 120,000 people attended the Cardano Summit in 2021 and everyone saw how the ecosystem works for them.
He also said that the market is growing too fast, adding that “We as an industry will digest the good or bad consequences of such rapid growth.”
Hoskinson: Ripple will win the lawsuit, NFTs will be targeted by regulators
Among some of the predictions he makes in the video, Hoskinson said: “We will probably find a solution for the Ripple case” and stressed that at this point, Ripple has apparently won.
Hoskinson says we are likely to see a lot of regulatory interference in the industry from 2022 and beyond, particularly against DeFi and non-fungible tokens (NFTs).
He gave an example of what ICOs are and how regulators are targeting them in 2018 and 2019.
Recently, while discussing Cardano’s 2022 plans, Hoskinson revealed that Cardano had issued two million assets, mostly NFTs. He added that currently more than 127 projects have written code to build decentralized applications (dApps) on the network, with around 20 to 30 projects being released over the next three months.
In addition, Hoskinson states that part of the goals of the Cardano project for 2022 include a “formal open source project structure”. He said there will be many organizations involved. In the YouTube video, Hoskinson discussed the funds to raise end-to-end microfinance deals on Cardano by the second half of 2022. He said:
“My goal in the second half of 2022 is figuring out how to put all the pieces together to get an end-to-end microfinance deal on Cardano. So a real person in Kenya or anywhere with a blockchain-based identity and creditworthiness, stablecoins on the other hand, Cardano is the payment route. Peer-to-peer, person-to-person, click a button, credit goes to them. Then give it back, it goes to the other side. “
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