Charles Hoskinson, the inventor of Cardano (ADA), has issued a warning about an imminent identity war in the decentralized sector as the cryptocurrency industry draws closer to broad use.
He said this while speaking at the Web Summit 2022 on November 24, 2018. Hoskinson believes that the wars will most likely pick up their pace over the next twenty-four months, and if the industry does not get decentralization right, it would imply a dark future for the cryptocurrency area.
Notably, the inventor of Cardano predicted that decentralized identity will be a major trend after the smart contract conflicts were over. He also said that stakeholders in the industry recognize that this particular region is “the choke point.”
“During the next twenty-four months, this market is likely to be one of the most challenging places in the industry.
The fights over smart contracts are gone; the technology has been commoditized, and a lot of interesting things are occurring. The battles for one’s identity have not yet begun, but this is shaping up to be a significant conflict.