In his latest work live feed Charles Hoskinson, founder of Cardano (ADA) and CEO of Input Output Global (IOG), laid out a vision for blockchain network governance, institutional structures, and strategic milestones leading up to 2025. Over the course of a lengthy and candid speech, Hoskinson combined Cardano’s past governance efforts, and its current institutional frictions. , and future priorities, repeatedly stressing the need for decentralization, open participation, and active global participation.
Hoskinson opened his speech by reflecting on the recently concluded Constitutional Convention — a multi-year endeavor designed to forge a new governance framework for Cardano. “As many of you saw from the results of the Constitutional Convention, it was the culmination of two years of effort around the world,” he said. This global process involved “hundreds of workshops and thousands of people in more than 50 countries,” culminating in a draft constitution approved by 95% of the 50 elected delegates and their alternates.
He highlighted the truly international nature of this initiative, saying: “These people come from different parts of the world: Africa, South America, Australia, New Zealand, Asia, Europe, North America – all six continents. We tried to find someone from Antarctica, but we were unable to send notice.” Short For Huskinson, seeing the ecosystem come together into a unified document, however imperfect, was “one of the proudest moments of my career.”
Hoskinson’s plan for Cardano in 2025
Looking to 2025, Hoskinson emphasized the challenges that remain. The next milestone for Cardano involves achieving true decentralized governance. “We have some challenges, and those challenges will be that we have to fully decentralize the governance of Cardano,” he said. The tension lies between Hoskinson’s vision of “member-based institutions and governance across the chain” and voices in favor of a longer transition period under controlled institutions. He stressed: “There are those who believe that there is a need for a longer transitional period and that there must be institutions (…) that are not subject to the whims and democratic will of the ecosystem.”
By contrast, Hoskinson has long advocated a system built from the ground up. He explained his basic principle: “I’ve always believed that the key is to build member-based institutions and on-chain governance, get them to work well together, and make sure all the roles that matter are elected and constrained by the rule of law – algorithmic law first and foremost (…) because The strongest – and constitutional law second.”
Going back to Cardano’s origins, Hoskinson took responsibility for some of the structural deficiencies in governance. “All of the governance failures we see today are directly or indirectly my fault,” he admitted, admitting that initial designs — such as the early three-way arrangement between IOG, Emurgo, and the Cardano Foundation — were conceived before the full complexity of governance was in place. Completely understandable. “I was young and didn’t fully appreciate or understand how complicated, meandering, and…difficult to judge.”
However, the founder emphasized Cardano’s enduring technical achievements: “We have assembled one of the largest groups of scientists, formal methods engineers, and software engineers in the history of our industry. We have written hundreds of research papers, written millions of lines of code, and built something that truly stands the test of time.” For seven years, Cardano has been “under constant attack, both technological and social,” proving its resilience and long-term stability.
Overall, Hoskinson identified three clear governance priorities for 2025. The first is to ratify the Constitution across the chain. The community-ratified constitution must be integrated into the Cardano onchain governance framework. “We have to ratify the constitution online. This is the first,” he said.
Second is the transition to the annual budget process. With a large treasury at its disposal — “nearly $2 billion” — Cardano can move beyond dedicated funding (e.g., Project Catalyst) to a stable annual budget model. “All we need to do is (…) make sure no one is left behind, many of you are working for free now (…) we need to get through the annual budget process,” Hoskinson explained.
Third: Election of the Constitutional Committee. The current Constitutional Committee is temporary and will be replaced in 2025 by officials elected from the local community. “I have already said that inputs and outputs will not run for election,” he said, ensuring that no established entity can control the process. The ultimate goal: “It is important for society to be able to step up, flex its muscles and be in complete control.”
Beyond Cardano
Hoskinson also stressed the importance of engaging with global stakeholders and regulators in the cryptocurrency industry. “I’m going to have to work with the industry as a whole,” he said, citing outreach to figures like Ripple’s Brad Garlinghouse, and noting that he’s “fully prepared and willing to work with almost anyone (…) I don’t do that.” I don’t really care about what they said and did in the past.
He highlighted the geopolitical realities shaping cryptocurrency policy, noting that entities like a16z, Coinbase, ConsenSys, and BlackRock “will have a tremendous amount of influence on cryptocurrency policy.” Hoskinson’s position: Cardano must ensure that it is not “left out” and must seek partnerships wherever possible. “If they choose to exclude Cardano, it will be very difficult for us as an ecosystem,” he warned.
One unique aspect of Cardano’s governance efforts has been direct community engagement through workshops. “We should run five workshops a year all over the world and grow from 50 to 100 countries,” he suggested. This global dialogue, which may cost “5 to 10 million dollars annually,” will be within the network’s capabilities. “When we have nearly $2 billion from the treasury (…) perhaps we as an ecosystem can find the resources to do this.”
Hoskinson has not been shy about predicting turmoil in the coming year. He added: “The year 2025 will witness drama, chaos, and problems.” However, he maintained his optimism that through debate, inclusion, and democratic processes, Cardano will achieve permanent decentralization and influence.
“We are very close to greatness,” Hoskinson insisted. With the full activation of CIP-1694, the introduction of delegate representatives (DReps), and a large treasury to support innovation, “Cardano will get where it needs to go.” He urged the community to “judge us not by what we say, but by what we do,” and affirmed his personal commitment: “I care about Cardano more than anything else in my entire life.”
At press time, ADA was trading at $1.08.
Featured image from YouTube, chart from TradingView.com
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