100s of titles, one news app for just $10 a month.
Latest Business news:
Bill Gates reveals why he doesn’t own cryptocurrency
Cryptocurrencies have seen around $1 trillion wiped off their value in 2022
Read news from The Economist, FT, Bloomberg and more, with one subscription
Learn More
Hedge Fund Up 138% This Year Is Turning Bullish on China Stocks
A fund manager who made triple-digit gains by hedging risks in Chinese equities is now turning bullish on mainland shares.
Apple Analyst Hints At Imminent Launch Of Next Iteration Of This Key Product
Apple, Inc. (NASDAQ: AAPL) is expected to have a strong launch year in 2022.
Tesla Drops To Number 2: Is Cathie Wood's Ark Invest Losing Confidence In Its Favorite Stock?
Tesla, Inc. (NASDAQ: TSLA) stock has been going downhill since peaking in early November 2021.
Survivor, Bachelor in Paradise, Love Island: How Fiji is cashing in on reality TV favourites
Fiji is a small nation looking for big investment and it is working hard to make film and reality television…
From analysis to good news, read the world’s best news in one place
What do Elon Musk and Jeff Bezos have in common? An unhealthy Twitter habit
They are two of the world’s richest people, and both are obsessed with space travel, but they use social media…
The Stats Guy: What does tourism in Australia look like now that travellers are returning?
The tourism sector is preparing for a comeback. So, what is the state of play in the sector and what…

Charles Hoskinson Shares Plan To Avoid Economic Collapse: How Crypto Could Help

By Chris Katje

One of the biggest names in the world of cryptocurrency shared thoughts on the current state of the global economy and inflation this week.

What Happened: Charles Hoskinson is best known as one of the co-founders of Ethereum (CRYPTO: ETH) and the founder of Cardano (CRYPTO: ADA). Hoskinson could soon be known as a leading voice of cryptocurrency fixing major global financial issues.

Hoskinson called the current global economy a “train wreck” and encouraged listeners to his broadcast to “wake up.”

“The world economy is not healthy,” Hoskinson said.

Hoskinson worries that hyperinflation and the constant printing of money by governments could lead to a dystopian future.

“They’re playing musical chairs with a global economy which will collapse. It cannot sustain itself.”

Hoskinson said the recent drop in prices for many cryptocurrencies was led by institutional investors exiting.

“Institutions have been dumping their crypto. This was always the danger of inviting the Wall Street types in.”

Related Link: 5 Things You Might Not Know About Charles Hoskinson, Cardano Founder And Ethereum Co-Founder 

What’s Next: Hoskinson argued that a cryptocurrency that is “best-to-market” could be part of the economic solution and help the world avoid economic collapse.

Hoskinson also cautioned there may be some rushed products that are not the best.

Some cryptocurrencies did not meet the qualifications because they were “chasing the gains for their VC masters,” Hoskinson said. While Hoskinson wouldn’t name who he was referencing, Decrypt suggests that Hoskinson could have been talking about Terra (CRYPTO: LUNA) and TerraUST (CRYPTO: UST), which have plummeted in price over the past week.

“The entire point of cryptocurrencies are to restore some trust, credibility and stability into the world money system.”

Hoskinson argued that it’s not cryptocurrencies doing damage, but instead manipulation driving down prices.

Retail investors are holding cryptocurrency because they believe in changes to the global economy, Hoskinson said.

Hoskinson is hopeful that cryptocurrencies can show the positives going forward and help fight off a market plagued by inflation.

Hoskinson also released a new paper this week that formalizes p2p and shows how hard it is to get proof-of-stake networking right.

What is inkl?
The world’s most important news, from 100+ trusted global sources, in one place.
Morning Edition
Your daily
news overview

Morning Edition ensures you start your day well informed.

No paywalls, no clickbait, no ads
Enjoy beautiful reading

Content is only half the story. The world's best news experience is free from distraction: ad-free, clickbait-free, and beautifully designed.

Expert Curation
The news you need to know

Stories are ranked by proprietary algorithms based on importance and curated by real news journalists to ensure that you receive the most important stories as they break.