Questions to Charles - Next AMA Session


#1

For the next AMA with Charles, you may post your questions on the Reddit you may reach via the below link.

I have added the following questions to the list, pllease vote for them if you like any. Many Thanks :slight_smile:

(1) Why is there no Advisory Board for Cardano? Or there is one, but it’s not public for a good reason? :slight_smile:

There are certain areas in Marketing, Strategy, Economics, Law where external advisory could make sense and bring benefits. Having very influential people (such as Tumelo Ramaphosa) interested in the success of Cardano as being member of the Advisory Board with some bonus ADAs locked up might be a good idea.

(2) There is a growing global Community for Cardano with 100k+ followers for you on Twitter and many members in the forum, even more account holders of ADA. Why not unleash the power of this Community? I believe 2-3% would happily reserve couple of hours of their time on a weekly basis to help the Cardano venture with their competence. You might want to screen the skills of people who are willing to help, map their geographical location, review their network and have the Cardano Foundation identify, kick off, drive and supervise Community Projects.

This could make a true difference apart from what is happening now, with Community Meetups, Forum Discussions, Social Media interactions and YouTube Videos.

Obviously you would have to empower the community with the right tools & utilities.

(3) Don’t you think that Liquid democracy and the Treasury will simply be not enough to ensure the Sustainability pillar of Cardano?

I believe there is a need for a global, decentralized, hierarchical, structured a much more sophisticated virtual organization, for a DAO to make sure Cardano sustains and is able to progress successfully toward the vision.

Such a DAO would have an OPEX cost to be paid by the Treasury on a regular basis.

Maybe the Cardano Foundation should merge into this DAO, once legal acceptance is in place of such structures.

The local context (cultural, political, economical, technological, religious, social, environmental, legal, etc.) is external important for adoption, which only local Communities may understand and utilize in the adoption strategy. So you have to empower these local Communities, however still keeping them aligned with the goals & strategy.

(4) How will you make sure Cardano does not end up to be an “Amazon Blockchain” having all the stakepools running on AWS? How do you guarantee that there will be sufficient geographical distribution of the stakepools and we don’t end up as a “Chinese Blockchain”? This infrastructure decentralization and geographical distribution would be critical to enforce or incentivize somehow.

(5) Why don’t you have any economist professors within the IOHK Team? Would it not make sense to simulate the Cardano Ecosystem in certain economic models and use it as a support tool when designing adoption strategy?

(6) Do you see any threat from near future, not yet discovered consensus algorithms that might have better parameters then Ouroboros? Will you be able to adapt to such a scenario and upgrade the Cardano network with a new Consensus Solution? Is this a level of modularity that’s possible? Do you expect such potential algorithms to be “open source” you may shamelessly borrow or there is high risk of patenting in the cryptocurrency domain?

(7) Do you believe revealing someone identity might be enforced in the governance process of Cardano in case the individual owns a certain large amount of ADA (is a whale, would say more then 10m ADA)? Or you think such powerful and influential entities should be entitled to keep their anonymity when participating in the governance ecosystem?

I personally believe you should keep your identity if you only use Cardano as a means of value store & transfer infrastructure, but once you want to make serious votes and decisions with high weight then there should be responsibly take, which assumes we know the identity.

Do you think a reputation system of the Community might be used to balance weights of votes apart from the ADA bag begin held?

(8) Does Jeremy Wood run the undercover operations of Cardano? We barely hear about him, which might be the only excuse I might think about considering his intelligence & CoFounder position.

(9) It would be nice to have you, Charles and Bernie Sanders discuss about the potential impact of Blockchain on our society.

Larry King was a brilliant guy to meet and share thoughts with, but you should reach out to Senator Sanders, he would love Cardano and perhaps even accept a call to become an ambassador of the venture.

Should Cardano Foundation consider such kind of ambassador approach? You have the UN very successful with this.

(10) Did you make any vetting of the ICO participants of Cardano? Or do you think there might be a few proxies of your competitors (Ethereum, EOS, …) who bought into Cardano and have now a big stake in it? Would this be a possible scenario do you think they you could harm the Ecosystem anyhow by owning large bags of ADA?

(11) You mentioned on your last AMA that the community will have to decide between total privacy vs compliance with regulators and some sort of metadata exposure when transacting on the Cardano Infrastructure.

Are you sure you would leave this up for the Community? Let’s make Cardano somewhat complaint, no matter there will be some backdoors left for insight of Governments.

We are not only freedom fighters, but also speculators of the self sovereign economy Cardano would enable, however a compliant one. No you should not be able to have a Silk Road kind of stuff running on Cardano, please don’t even let this up to Liquid democracy.

Trump was elected, such disaster could also be elected with significant non reversible consequences for Cardano!

(12) Is IOHK planning to build any kind of DAPP on top of Cardano as part of the Africa Strategy? (such as micro lending)

I know about the land registry, the coffee supply chain integration with permissioned Blockchain (Hyperledger Fabric?) and the Townships housing model, but anything else?

(13) Following McAffe, which part of your body will you eat if ADA doesn’t reach 10 USD in 2025? :))

(14) Charles, you said you don’t care about ADA price, BUT doesn’t a big marketcap help you with the adoption by showing power? Isn’t being in the Top5, now Top10 cryptocurrencies give you strong marketing? Isn’t the price an incentive for your Team who work having their ADA bonuses in their mind? All the merchants who might accept ADA, they need a strong currency?

What I mean is that do you think there are some effortless, cheap ways you may still influence the price for the better? I am not speaking about pumping, rather about communication techniques, more educational videos for non tech savvy people, etc.?

(15) There is little to know about how IOHK operates as a global organization, with teams split up all around the world in “home office”?

Could you share some of the details in terms of tools, processes, methodologies, KPIs you are using?

Maybe someone from the Project Management team could be interviewed (standard IOHK YouTube interview) in detail to provide an overview about how you can be efficient in such a difficult setup? What were your lessons learned? What did you change and optimize?

(16) It’s good you take care about your health now, hopefully you have tight & professional security backing you up all the time wherever you travel. Can you please assure this to all of us as this is a huge project risk? I believe also considering you are sort of threatening the global financial system status-quo, not everyone is happy about the Cardano vision. Not to speak about your competitors… and you are even Fortune100 crypto rich. So when you go out in South Africa to the outskirts, Townships, well how to say, trouble might not be too far off.

You should post pictures like McAffe sleeping in a bed with two bulldog and a shotgun and a revolver and somewhere between the wife. That’s how crypto CEOs supposed to sleep nowadays :slight_smile:

(17) What’s the status of the RSICoin Project? Is this still real and anything to do with Cardano?

(18) Would you buy Sirin Labs with your ADA holdings and develop a max 50 USD secure mobile phone for crypto to help the adoption strategy in Africa?

(19) You said you don’t believe there is a need for Complex Event Processing (CEP) technology in the Cardano Ecosystem. Do you believe Oracles should be trusted to do the Complex Observations for the Marlowe Contracts?

Under Complex I mean having a complex pattern of high frequency Observables. Which is very common in the financial domain where Marlowe smart contracts are positioned.

There was a proposal to develop a Smart Rules Layer on top of the Smart Contracts Layer, which would have a decentralized infrastructure of CEP engines consenting about Complex Observations they would independently detect. Is this fully out of scope and consideration?

Or you expect Complex Observations to happen in the Smart Contract Layer?

One way or the other it’s a question how trustless you want the Observation to be and what price you are willing to pay for it. Once you delegate too much to the Oracle, you are as good as the trust factor of the Oracle no matter the decentralized Cardano infrastructure where the Smart Contract is running.

(20) Why do you keep using Twitter apart from the video updates and announcements?

I believe it was a good idea to leave that toxic platform behind, but you returned to it.

Why not delegate social media management of your official Twitter account to Jane Wild?

You would text her and she would be a perfect filter to keep all communication professional and politically correct.

(21) Do you plan to build a mobile wallet, which might be used by analphabets? I mean having well thought design, animation and ergonomic that really allow people to who can’t read to still benefit from many of the Cardano Use Cases? Is this something part of the Africa adoption strategy?

(22) Would it be possible to have regular monthly analytics & reports, statistics regarding the health. activity and performance of the Cardano Blockchain?

For instance new wallets created, transactions between non-exchange wallets, change in ADA distribution, transaction count, etc.

You could have all kind of creative and useful metrics & measures here, which all would tell a different story from a different aspect of Cardano.

(23) Will the Treasury have an initial load over the first 10 years enough to support & sustain the Ecosystem? How about taxing (like 0,01%) the accounts and loading some money into the Treasury, not only taking the margin on transaction fees? Obviously if there is high activity / transaction count the taxes may go lower to zero, if there is low activity you need taxes to provide supply to the Treasury. Constant supply to the Treasury will be critical. Maybe the Governance stream of Cardano might vote on tax rate vs transaction fee. Nothing is for free, it should not be free to keep your ADA bag on your account doing nothing with it.

(24) Would it be possible to have monthly updates regarding the “public” activities, inititaives and progress of the Cardano Foundation? As of today the private sector IOHK is much more transparent then the public sector Cardano Foundation. Also somehow not the entire staff of the Foundation is shown on its website. Is this something strategic and part of a defense mechanism or it’s simply negligence? Why is Michael Pearsons not on BBC anymore?

(25) Do you think that having EOS raised 4b USD vs you raising somewhere at 60m USD is anyhow giving them a competitive advantage that will be hard to deal with? It’s clear you have a much better Team, product and performance, but they have endless source of money. Can this be any sort of threat? They could just pay off the entire Dev Team?

(26) Would you consider a partnership with the Gates Foundation for the adoption strategy & execution in Africa? They have resources, network and experience. Did you ever reach out to them? If not, why not? If yes, how did they react? I could see you get along with Bill pretty well.

(27) Charles, could you please clarify why IOHK was ignoring the audit reports from FP Complete, which were ordered by the Cardano Foundation? Would you like to comment on the statement from the CF you may find in the Cardano Forum? How is you relation with the Cardano Foundation?

(28) What’s up with the Joe Rogan appearance? It would be such a great & engaging show!

But please don’t do anything crazy during the podcast like Musk did last time. If Nasdaq shares fall percentages when a CEO does something “unprofessional” live on stage, then a cryptocurrency would have a serious flash crash :slight_smile:

(29) Does IOHK have any research on Stable Coins? What kind of approach would you prefer for a Stable Coin?

Would you fix it to a fiat currency like the USD or a basket of fiat currencies or maybe to the CPI Basket of Goods? Or the Big Mac index :slight_smile:

Would you expect Oracles to drive the stability or have a humna committee elected by the liquid democratic system by the Community to guard stability, or once there is enough activity on the blockchain, use mass metadata from certain business transactions to feed some logic?

(30) Who is auditing the operations, performance, spendings of the Cardano Foundation? Where may we see such audit reports? How would you rate their performance? Why do they have a lot of ex-employees you may find on LinkedIn? Do you believe they really don’t need any technical staff, which understands Cardano technology in all depths?


#2

Excellent questions, this list in itself would make for a fine AMA. I voted for a lot of them over at Reddit.


#3

Thank you for cross posting this :wink:, from the pile of quality questions i voted for the following three.


#4

What do you mean?

Where are you from? If you are from outside the US… I will forgive you for such a stupid comment since most likely all sources of information you have access to has a agenda to manipulate you and you have obviously fallen for it. Anyone can disagree with Trump and his policies - but anyone going so far to call it a extreme case or a extreme disaster etc. is simply out of touch with reality. There is nothing extreme going on, neither are Trumps policies extreme in any way from a historical or precedental perspective for anyone who doesn’t have trump derangement syndrome.

On a side note… A lot of great questions, but perhaps a tad too many on one list.


#5

HAHAHAHAHAHHAHAHAHAHHAHAHAH… hahahahahhahahahahha… I am sorry that was just so funny… Bernie Sander and Charles Hoskinson are the complete reverse of each other, it doesn’t get more polar opposite. They have nothing in common.

Communist (Ultimate socialist) vs Libertarian (Ultimate capitalist)

Charles would use blockchain to liberate us and Bernie would use blockchain to chain us

This is without getting political but that is literally what he would use it for, ultimate government control. A crypto currency would be the best weapon the government could use. No tax invasion, easily confiscate peoples wealth - and no private transactions, everything would be traceable and recorded. Yeah I bet he would love that.


#6

So not true… can we please drop the politics, EVERYONE, otherwise this place will sink into chaos.


#7

I hope I am able keep the politics out of this.

My impression from all proposals of Sanders is that he wants to remove social and economic disparities; however, his approach to implement it is by using entitlement.

Nothing from what Charles has shared so far seems to indicate that he has a different goal. However, Charles’ approach is to do it by aligning incentives.

One of these approaches requires funding through taxation and other is self-sustainable.

You hand a fish to a man, he’ll ask for more. You teach a man to fish, he’ll never ask again.


#8

Many very good points and again a very ambitious and extensive post.
I agree and wonder with many of the questions raised.
You filled them with a lot of explanations, which is good to avoid misunderstandings, but sometimes it leads to opinion expression instead of “asking anything”
Opinions are not bad, no they are good, but then maybe brought up over time and once per topic. Fortunately this forum is much better in sustainability compared to send-read-forget chats.


#9

It’s amazing how mainstream media along with late night comedy shows and big tech like google, facebook, etc can completely turn facts upside down by controlling information. Its an INFOWAR :blush:.


#10

Climate Change, Paris Agreement, period.

But yes please let’s discuss politics in private messages, not in this context.

Don’t get me wrong Killery would have been a disaster as well :slight_smile:

Peace.


#11

It is amazing - I am absolutely stunned of the mass hysteria based on pretty much nothing - and how this cana just be orchestrated in this way -and I think Its great that this comes to light.

Just a few days ago, I noticed something that I have never seen before and that is youtubes comment algo is now being used - they are purposefully weighting down comments (with tons of likes) against their agenda. We’ve always know about the content being weighted, but this is one step that is even further cause now you are skewing up the internal communities too, skewing the picture off even subset communities.

and the reason this works is due to a deep psychological element in humans that being contrarian to popular opinion is dangerous to your survival strategy - so this brainwashing absolutely has an affect on so many people - so much that they eventually even believe it is their own opinion - and its just this giant snowballing effect.

The fact that voting is anonymous does hinder some of the effect though in real life when it comes to the actual voting.


#12

I hear you 100% I’ve become so frustrated with a few coworkers where I work that they don’t even realize they’re being manipulated. Their minds are already made up and they don’t realize they’re being hit hard with physiological warfare!!


#13

Oh gawd, another economic illiterate - just what we need on this forum.


#14

Paris Agreement, Climate Change, period.


#15

I was very tempted to join in but caught myself in time.

I said it before and I’ll say it again –

LEAVE THE POLITICS OUT PLEASE – THIS MEANS YOU!


#16

I got my eye on this thread :slight_smile: