As the cryptocurrency industry gets closer to mass adoption, Cardano founder Charles Hoskinson warned of decentralized identities, which he sees as a potential problem in this context.
The adoption in the cryptocurrency industry is increasing day by day. One of the problems that could arise with increased adoption, Hoskinson warned.
Charles Hoskinson Warns Users of Decentralized Identities
As blockchain technology develops, the products enabled by technology will be more integrated into our lives in the future. Speaking in this context, Hoskinson warned users.
Speaking at Web Summit 2022 on November 24, Hoskinson said that wars will likely accelerate in the next two years and that if industry decentralization is not done right, it could be a tumultuous time for the crypto space.
Cardano founder Hoskinson stated that decentralized identity wars will be big once the smart contract wars end, while industry players stated that the region is a choke point.
Hoskinson added:
“The next 24 months will be one of the most competitive in space. The smart contract wars are over; has been commodified and a lot of things are happening. Identity wars have not yet started and this will be a big one.”
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