The Cardano Foundation will preserve its independence, says new CEO

This inherent separation of power is in keeping with Charles Hoskinson’s vision

The Cardano Foundation will preserve its independence, says new CEONOTÍCIAS

The Cardano ecosystem ( ADA ) has a complex governance structure, not unlike the way in which US democracy operates, with its built-in checks and balances.

There are three main actors: the Cardano Foundation, EMURGO and IOHK; according to the Foundation’s new CEO, Frederik Gregaard , governance will become more complicated as more organisations join.

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He also said he intended to maintain the Foundation’s independence from Cardano’s founder and CEO of IOHK, Charles Hoskinson, who created this structure in the first place:

„Foundation law in Switzerland says we need to be independent. That is exactly why it is interesting and why Charles chose to set it up, because he really feels that the people who will protect the Cardano protocol for future generations need to be independent. ”
The mission of the Foundation is to advance the „Cardano protocol“. It also maintains a protocol development company, which is currently the IOHK – although its contract expires at the end of this year.

Thus, with the launch of the Voltaire era scheduled for a few months, the community will soon vote on the extension of the IOHK contract.

In the unlikely event that the IOHK cannot secure the community’s support, another development company will be hired to replace it.

Although in 2018 there was a serious break-up between the two, it appears that the relationship has been restored since then.

IOHK is an independent entity and although its main focus is Cardano, it also works with other projects. For example, he recently proposed some solutions for the Ethereum Classic.

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EMURGO was originally established as a risky arm of the ecosystem, but has since become a broader technology company.

Gregaard accepts that Hoskinson is more than just the head of the Cardano development company and that there may be times when they oppose the Cardano development direction:

„Charles started the project together with one of his colleagues. So there is no doubt about how brilliant he is and how visionary he is. But he runs a product company that needs to deliver products. <…> I’m sure there will be some struggles in terms of priorities and some points where we believe, together with the community perhaps, that we should go a little bit more surely and Charles wants to be a little bit more left-wing and we need to agree on that together. ”
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He said that having worked with Hoskinson for the past 6 to 12 months (as a consultant for PwC), he has a good feeling about this relationship, although he does not expect it to be easy.

Gregaard is a great advocate of decentralised governance. In his opinion, it represents a viable alternative to the current state of the world, where giant technology platforms like Facebook and Google exploit their users in a manipulative way.

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