On the opening day of this year’s Binance Blockchain Week, hosted at the Dubai World Trade Centre in the United Arab Emirates, Cardano founder Charles Hoskinson presented a keynote speech. Hoskinson used his keynote address to cover Bitcoin (BTC), Web3, and philosophy, raising questions such as what happens next as the community moves away from Bitcoin’s comfort zone and toward centralization.

“As blockchains become more evolved and powerful, we’ll have to make some difficult and unsettling philosophical choices,” Hoskinson asked an audience of blockchain fans from around the world. The CEO questioned Web3 and where the lines between decentralization and regulation should be drawn. “How do you know when you’ve reached the point where you’re no longer decentralized?” “You’re no longer the trusted arbitrator?”

“Once you get over the comfort of Bitcoin, you start to contemplate a lot of different possibilities.”
He noted that since regulators began to look into the blockchain, previously unconsidered questions have begun to appear. In blockchain talks, questions like “Can we reverse a transaction?” and “If we can, at what point can we freeze your funds?” are currently being raised. “I never believed we’d be able to do it,” Hoskinson remarked.

Here’s my Keynote at Binance here in Dubai https://t.co/9ISFLHs0cZ

— Charles Hoskinson (@IOHK_Charles) March 28, 2022

Aside from that, Hoskinson stressed the significance of concentrating on blockchain technology rather than earnings. He emphasized that blockchain provides everyone with fairness and equality, providing smaller businesses a fighting chance.

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“If you’re only here to generate money, you’ll miss out on everything that makes technology unique.”

Though the Cardano founder did not specifically mention decentralized autonomous groups, he stated that people must be involved in blockchain project decision-making. “We have to find this out for ourselves if we’re truly decentralized,” Hoskinson remarked. DAOs may be the backbone of Web3 in the future, he predicted.