Charles Hoskinson, the founder of Cardano (ADA), recently shared details on the possibility of implementing a RLUSD and his discussions with key figures in the crypto space. Hoskinson revealed that negotiations are still ongoing and that progress could be made in March, following the completion of the NYDFS project. He opened up about the strong possibility of reaching a deal, but said that the team was advised to wait until then.
“We talked to David Schwartz and Brad Garlinghouse. Strong possibility we can negotiate (RLUSD). Ripple told us to wait till March as they just finished NYDFS. We’ll see if there’s a roadmap and how they’ll get that done,” he said in the AMA.
In terms of market performance, Hoskinson acknowledged the current market downturn, saying that Cardano had seen a 19% drop over the past 24 hours and 23% for the week. Despite this, Cardano is outperforming some major cryptocurrencies like Dogecoin, Solana, and BNB, which saw even bigger declines.
He explained that the recent market excitement about Donald Trump’s presidency led to an overbought market, with unrealistic expectations about rapid growth in Bitcoin’s value. However, Hoskinson remained confident about the long-term trajectory, stating that the crypto market will remain strong, even with fluctuations.
Looking to the future, Hoskinson also discussed the US government’s growing interest in blockchain technology. He predicted that over the next five years, blockchain integration will play a major role in government systems, including voting, procurement, and identity management.
Additionally, he mentioned the possibility of a US government Bitcoin reserve. Hoskinson suggested that Cardano could play a significant role in supporting decentralized finance (DeFi) solutions for the US government, further solidifying Cardano’s place in the evolving blockchain ecosystem.
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