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Cardano Structural Dispute Highlights Necessity of Self-Operating DAOs

Charles Hoskinson, Cardano creator, wrote a public letter last month that discussed the problems he had with the Cardano Foundation and recently did an interview with Crypto Insider to elaborate on his letter.

Cardano is currently a “triumvirate group” that oversees the “development of the Cardano blockchain project”. They created this system, according to Charles, because the problem with putting all cryptocurrency development “into one bucket is that their is a tendency to leave it that way, continue building it that way, and never end up decentralized – you end up with too much power in one place”. Charles explained in the video that Emurgo focuses on the “business side, adoption, and DApps”, IHOK worries about the “science and engineering”, and the Cardano Foundation worries about the “needs of the community like meetup groups, exchange listings, special events, education, and regulatory lobbying”. Charles admitted that separating tasks is always a little shaky at the beginning, but things have become more difficult recently.

Charles discussed how the lower levels of the Foundation board is working well, but it is the top level that is causing the strategic issues. Michael Parsons, Chair of the Foundation “was supposed to appoint a diverse board, but he let the board dwindle to 2 members … there’s just no oversight at the top”, Charles discussed.

“For 15 months, the foundation has just been Micheal Parsons and the legally required Swiss actor and they haven’t published any KPIs, any strategy, any notation or how they’re going to spend their capital and what they’re going to do with it. We kept trying to work with them and say ‘hey let’s come up with a joint plan and let’s go ahead and get it on the right direction’. It just never felt to me that they ever had the intention to look into a long arc. So, out of frustration, IHOK and Emurgo, what we started doing was just taking over things that we thought the foundation should do.” ...
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