Cardano
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ADA · 13w

Cardano Foundation Chairman Asked To Step Down by Hoskinson, IOHK and Emurgo Take on the Extra Responsibilities

From what looks to be a bedroom in his home, Charles Hoskinson released a video on October 12, 2018, revealing some of Cardano’s internal challenges.

The video was also embedded on an IOHK blog post titled An Open Letter to the Cardano Community from IOHK and Emurgo, which detailed an ongoing issue with the Cardano Foundation on one side, and IOHK and Emurgo on the other. The post was signed as a statement from both Hoskinson and Ken Kodama, CEO of Emurgo.

Checks and Balances

These 3 branches are separate legal entities, established during Cardano’s inception to serve as a system of checks and balances that would prevent the failure of 1 branch from taking down the entire project. All 3 were clarified in the blog post, and have been simplified below.

IOHK — Responsible for developing the core protocols that compose Cardano while meeting established academic and scientific standards.

Emurgo — Builds global relationships with developers and instigates projects for Cardano.

The Cardano Foundation — Created to promote Cardano while managing, informing, and responding to the needs of their growing international community.

After clarifying the designated roles of each entity, the post went on to explain ongoing issues — which span back more than 2 years — that have recently come to a head in a point-by-point manner.

Performance Issues

The main issues that IOHK and Emurgo CEOs have with the Cardano Foundation revolve around what they describe (in detail) as a general lack of performance with no clear indications of improvement, despite multiple attempts to change this.

The first 3 out of 8 points outline a lack of strategic vision, public fund allocation, and transparency of operations.

Their 4th point described a couple awkward situations, including the Foundation’s council claiming they owned the Cardano trademark, and an assertion that they were “to be the single guardian of the Cardano brand and ...

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