Charles Hoskinson, the founder of Cardano (ADA), recently shed light on the potential implementation of RLUSD, a stablecoin, and his ongoing negotiations with key figures in the crypto space. During a recent AMA, Hoskinson shared insights into discussions with Ripple’s David Schwartz and Brad Garlinghouse. Although the project remains in its early stages, he emphasized that talks are ongoing, with progress expected in March after the completion of Ripple’s New York Department of Financial Services (NYDFS) project.
Hoskinson expressed optimism, noting that the team was advised to wait until March to continue negotiations, as Ripple works on finalizing their plans. “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,” Hoskinson remarked.
Despite recent market turbulence, Hoskinson remains confident about Cardano’s future. The ADA token experienced a notable drop, losing 19% over the past 24 hours and 23% in the last week. However, Hoskinson highlighted that Cardano is still outperforming some other major cryptocurrencies like Dogecoin, Solana, and Binance Coin (BNB), which suffered even steeper declines.
Reflecting on the broader crypto market, Hoskinson attributed the current downturn to inflated expectations driven by excitement around Donald Trump’s presidency. The rush to buy Bitcoin amidst overblown market sentiment led to unrealistic growth predictions. Nonetheless, Hoskinson reassured the community that the crypto market’s long-term outlook remains strong, even amidst periodic fluctuations.
Also Read: Cardano (ADA) Faces 15% Drop to $0.70 as Short-Sellers Dominate—Can Bulls Defend $0.90?
Looking ahead, Hoskinson shared his thoughts on the evolving role of blockchain in government. He predicts that, within the next five years, blockchain technology will significantly impact U.S. government systems, including voting, procurement, and identity management. Additionally, Hoskinson suggested that Cardano could play a pivotal role in supporting decentralized finance (DeFi) solutions for the U.S. government, further cementing its place in the blockchain ecosystem.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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