• HOME
  • GUEST POST
  • ABOUT US
  • CONTACT US
  • DISCLAIMER
  • PRIVACY POLICY
Wednesday, July 9, 2025
No Result
View All Result
  • HOME
  • NEWS
    • POLITICS
  • BUSINESS
    • INTERNET MARKETING
  • FINANCE
    • CRYPTO
  • ENTERTAINMENT
    • MOVIE REVIEWS
  • SPORTS
    • CRICKET
    • FOOTBALL
    • WWE
  • TECH
  • HEALTH
  • TRAVEL
  • BLOG
    • AUTOMOBILE
    • CASINO
    • DEALS
    • LIFESTYLE
    • EDUCATION
  • HOME
  • NEWS
    • POLITICS
  • BUSINESS
    • INTERNET MARKETING
  • FINANCE
    • CRYPTO
  • ENTERTAINMENT
    • MOVIE REVIEWS
  • SPORTS
    • CRICKET
    • FOOTBALL
    • WWE
  • TECH
  • HEALTH
  • TRAVEL
  • BLOG
    • AUTOMOBILE
    • CASINO
    • DEALS
    • LIFESTYLE
    • EDUCATION
No Result
View All Result
Cover365
No Result
View All Result
Home NEWS

Charles Hoskinson Calls for Cardano Foundation Relocation Amid Governance Concerns

by Bhuvana Salvi
7 months ago
in NEWS
Reading Time: 7 mins read
0 0
0
Share on FacebookShare on TwitterShare on WhatsAppShare on LinkedInShare on RedditShare on Pinterest

Charles Hoskinson, founder of Cardano, has urged the Cardano Foundation to relocate from Switzerland to a jurisdiction that would enable users to elect board members. His call follows mounting community criticism about transparency and governance practices within the organization.

In a Dec. 17 post on X, Hoskinson questioned the Foundation’s adherence to democratic principles under its current governance structure, highlighting that Swiss law prevents community-based board elections. “If Switzerland doesn’t allow you to democratically elect the board members, then why can’t you move the Foundation to a new jurisdiction that will?” Hoskinson wrote. His post also suggested that the Foundation’s assets could be transferred to another body if necessary.

The Cardano Foundation’s Current Structure

The Cardano Foundation operates as a not-for-profit under Swiss law, which has implications for its governance model. According to its website, the organization’s board comprises four members and four executives, including CEO Frederik Gregaard and Chairperson Jillian MacNab. The Foundation does not allow for community-based elections of its board—a point of contention for many in the Cardano ecosystem.

In response to the criticism, the Cardano Foundation issued a statement on Dec. 17, emphasizing its commitment to transparency and dialogue. The statement pointed to initiatives such as on-chain audited financial statements and annual activity reports as evidence of efforts to improve governance and accountability.

Charles Hoskinson Cardano Foundation

Hoskinson’s Proposed Jurisdictions

Hoskinson’s comments suggest that relocating the Foundation to jurisdictions like Abu Dhabi or Wyoming could resolve governance issues. Both locations are recognized for their blockchain-friendly legal frameworks.

  • Abu Dhabi Global Market (ADGM): This regulatory environment supports decentralized technologies and governance models aligned with transparency and community participation.
  • Wyoming: Known for its legislation on Decentralized Autonomous Organizations (DAOs), Wyoming allows governance structures where community members can elect board members, potentially aligning better with the ethos of decentralization.

Gordon Hirsch, Founder of Hirsch Law Group, noted that these jurisdictions provide more progressive legal frameworks for blockchain organizations, enabling greater community involvement in decision-making.

Switzerland’s Crypto Standing

Switzerland, particularly the Zug region, has been a hub for crypto organizations, often referred to as “Crypto Valley.” Major players like Ethereum, Tezos, and Polkadot have foundations based there. However, the rigidity of Swiss governance structures has drawn criticism, especially from those advocating for greater decentralization.

Alexandr Sharilov, CEO of CoinDataFlow, commented that while Swiss law offers some flexibility, it doesn’t fully align with decentralization principles. “This structure can limit the direct participation of the interested community, which cannot make management decisions,” he said.

Balancing Flexibility and Transparency

Under Swiss law, organizations have some leeway to design governance statutes. This flexibility could theoretically allow the Cardano Foundation to introduce more community-centric governance practices without a full relocation. However, limitations remain, especially regarding direct community involvement in board elections.

Despite the ongoing criticisms, the Cardano Foundation has announced initiatives aimed at fostering transparency. These include a new series featuring leadership and subject matter experts, designed to create a platform for open discussions with the community.

Community Reactions

The debate over governance and transparency has sparked significant engagement on social media platforms like X. Cardano community members have voiced concerns about whether the current leadership reflects the network’s core values. The Foundation’s recent measures, including enhanced financial reporting, have done little to quell skepticism among critics.

Hoskinson’s outspoken stance has added fuel to the discussion, with his suggestions for relocation drawing both support and scrutiny. Whether the Foundation will consider such a move remains uncertain, but the conversation underscores a growing demand for decentralization in blockchain governance.

Bhuvana Salvi

Bhuvana Salvi

Bhuvana Salvi is a content writer with a passion for all things gaming. With a knack for crafting engaging and informative articles, Bhuvana has become a trusted expert in the gaming niche, providing valuable insights and captivating stories for gamers worldwide.

Related Posts

Indian stock market opening bell NSE BSE trading floor
FINANCE

Indian Stock Market Opens Flat Amid Trump Tariff Tensions and Q1 Jitters

2 hours ago
smart mosquito control system india
HEALTH

Andhra Pradesh Bets Big on AI to Kill the Buzz — Smart Mosquito System Rolls Out in 66 Hotspots

1 day ago
bentley car india showroom
AUTOMOBILE

Bentley Joins Skoda Auto Volkswagen India Portfolio, Marking Ultra-Luxury Push

1 day ago
TikTok logo on smartphone with US flag background
NEWS

TikTok to Launch U.S.-Only Version Ahead of Government Ban Deadline

2 days ago
Kajol childhood boarding school runaway
ENTERTAINMENT

Kajol’s Bold Escape: A Childhood Tale of Love and Defiance

2 days ago
ripple labs federal reserve bank charter application
CRYPTO

Ripple Follows Circle in Push for National Bank Charter, Aims for Federal Reserve Access

4 days ago
Next Post
Kareena Kapoor cheering Taimur annual day

Kareena Kapoor Turns Cheerleader for Son Taimur at School’s Annual Day Performance

gst-council-meeting-decisions-2024

GST Council to Discuss Rate Cuts on Insurance, Higher Slab for Sin Goods

SEARCH NEWS

No Result
View All Result

RECENT NEWS

  • Indian Stock Market Opens Flat Amid Trump Tariff Tensions and Q1 Jitters
  • Andhra Pradesh Bets Big on AI to Kill the Buzz — Smart Mosquito System Rolls Out in 66 Hotspots
  • Bentley Joins Skoda Auto Volkswagen India Portfolio, Marking Ultra-Luxury Push
  • TikTok to Launch U.S.-Only Version Ahead of Government Ban Deadline
  • Kajol’s Bold Escape: A Childhood Tale of Love and Defiance
  • Ripple Follows Circle in Push for National Bank Charter, Aims for Federal Reserve Access
  • Abhishek Bachchan Breaks Silence on Social Media Noise, Brushes Off Divorce Speculation
  • Alex Carey Holds the Fort with Gritty 63 as Australia Rebuilds in Grenada
  • Vidit Gujrathi vs TheLiverDoc: Twitter’s Latest “Doctor” Showdown
  • India Steady at 98/2 at Lunch in Edgbaston Test, Jaiswal Hits Fluent Fifty Amid Bumrah Absence

ABOUT US

Cover365 Footer Logo

We are Google news approved website from India run by Group of Bloggers. We cover trending news topics and explore in-depth about the topics.

If you would like to promote your business or ads in our website, You can Contact us anytime at ceo.cover365@gmail.com

ADVERTISEMENT

We charge nominal cost to promote your business in our website. We accept following promotions that will help your business and improve your website SEO.

  • ADVERTISE
  • GUEST POST
  • SPONSORED ARTICLE
  • WRITE FOR US
  • HOMEPAGE LINKS
  • BANNER ADS
  • PRESS RELEASE

POPULAR CATEGORIES

Popular Categories in our website,

  • BUSINESS
  • FINANCE
  • CRYPTO
  • ENTERTAINMENT
  • SPORTS
  • EDUCATION
  • TECH
  • HEALTH
  • LIFESTYLE
  • TRAVEL
  • CASINO

SEARCH WEBSITE

No Result
View All Result

WEBSITE STATS

Cover365 Monthly Stats: (Will be updated every month)

  • Traffic: 100,000+ / Month
  • Website Age: 12 Years+
  • Google News Approved
  • 4+ Active Writers
  • High Quality Articles
  • HOME
  • GUEST POST
  • ABOUT US
  • CONTACT US
  • DISCLAIMER
  • PRIVACY POLICY

© 2023 Cover365

No Result
View All Result
  • HOME
  • NEWS
    • POLITICS
  • BUSINESS
    • INTERNET MARKETING
  • FINANCE
    • CRYPTO
  • ENTERTAINMENT
    • MOVIE REVIEWS
  • SPORTS
    • CRICKET
    • FOOTBALL
    • WWE
  • TECH
  • HEALTH
  • TRAVEL
  • BLOG
    • AUTOMOBILE
    • CASINO
    • DEALS
    • LIFESTYLE
    • EDUCATION

© 2023 Cover365

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist