IOG CEO Charles Hoskinson recently discussed the reason Cardano is the best project in the crypto space. He also highlighted the Decentralized Venture Capital Fund (VC) and the importance of partnering with Wolfram Alpha to his company’s eye in developing an oracle framework.
In a recent interview with Ran Neuner of Crypto Banter, Charles Hoskinson was asked what Cardano is doing to bring DeFi projects to the Cardano blockchain, how unique it is from Polkadot’s strategy, and whether Cardano is also planning a launchpad.
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Charles Hoskinson noted:
“We already have that. We have the best in the industry. That’s a different matter. It’s like … ooh polka starter. It is a centralized organization with a committee or group of people. We have a catalyst. It’s $ 200 million in it and the community is up and running. It has partnered with IdeaScale, one of the best innovation management companies in the industry. We are just about to put an accelerator on it. “
Regarding Cardano’s decentralized VC fund, Hoskinson said over 5,000 people participated in the first experimental round of Catalyst. As Project Catalyst progresses, half of the entire network is expected to participate in funding new projects under the Decentralized Venture Capital Fund (VC):
“Over 5,000 people took part in the first test round with Catalyst. Our goal is to get 50% of the entire network to vote and participate. Literally hundreds of thousands of people vote, are experts, curate, go back and forth over proposals and then of course thousands of applications and projects and efforts are approved annually.
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“It’s a decentralized VC. We have been talking about this for five years. We spent 4 years on elective science. … So that’s how it works. Because nobody is in control. You can also diversify: you can do a little bit of marketing, a little bit in the project, a little bit in the DeFi. So come on Goguen so what do we do now? All the funds and the millions of dollars there are directed towards Goguen. “
Highlighting his own VC fund, Charles Hoskinson said, “I’ve invested $ 10 million in ADA and we’re going to boot critical infrastructures like the DEXes, the stablecoins and the oracles.”
Regarding Oracle, Hoskinson stated that the partnership with Wolfram Alpha will provide his company with a natural language processing tool as the company is the world’s largest source of computer knowledge. This added that among others Apple’s intelligent assistant Siri and Amazon’s Alexa are also based on it.
He also stated that IOG is determined to work with Wolfram to develop an oracle framework.
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“We work with Wolfram and are very interested in doing an oracle with them. And we think we can use them to create a very general and beautiful oracle framework to hook things up.
“This is a mature ecosystem, it’s not a moon boy, unicorn, or rainbow ecosystem. This is about real money, real people. “
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