in his last live broadcast Charles Hoskinson, founder of Cardano (ADA) and CEO of Input Output Global (IOG), laid out a vision for the governance, institutional structures and strategic milestones of the blockchain network through 2025. In the course of a long and candid speech , Hoskinson intertwined Cardano’s past governance efforts, current institutional frictions, and future priorities, repeatedly underscoring the imperative of decentralization, open participation, and active global engagement.
Hoskinson opened by reflecting on the recently concluded Constitutional Convention, a multi-year effort designed to forge a new governance framework for Cardano. “As many of you saw in the results of the Constitutional Convention, that was the culmination of two years of efforts around the world,” he said. This global process encompassed “hundreds of workshops, thousands of people in more than 50 countries,” and culminated in a draft constitution approved by 95% of the 50 elected delegates and their alternates.
He highlighted the truly international nature of this initiative, stating: “These people come from different parts of the world: Africa, South America, Australia, New Zealand, Asia, Europe and North America, all six continents. “We tried to find someone from Antarctica, but we couldn’t get the short notice.” For Hoskinson, seeing the ecosystem converge into a unified document, however imperfect, was “one of the proudest moments of my professional career.”
Hoskinson’s plan for Cardano in 2025
Looking ahead to 2025, Hoskinson highlighted the challenges that remain. Cardano’s next milestone involves achieving true decentralized governance. “We have some challenges, and those challenges will be that we will have to completely decentralize the governance of Cardano,” he said. The tension lies between Hoskinson’s vision of “member-based institutions and chain governance” and voices advocating a longer transition period under controlled institutions. He highlighted: “Others feel that it is necessary that there be a longer transition period and that there be institutions […] that they are not subject to the democratic whims and the will of the ecosystem.”
By contrast, Hoskinson has long advocated a system built from the ground up. He made his founding principle clear: “I always believed that the key is to build member-based institutions and governance up the chain, make them work well together, and make sure all important roles are chosen and constrained by the rule of law – the law.” algorithmic above all […] because that is the strongest law and the second most constitutional one.”
Going back to Cardano’s origins, Hoskinson took responsibility for certain structural deficiencies in governance. “All the governance failures we see today are directly or indirectly my fault,” he admitted, acknowledging that initial designs, such as the initial tripartite agreement between IOG, Emurgo and the Cardano Foundation, were conceived before the full complexity of governance. completely understood. “I was young and didn’t fully appreciate or understand how complicated, winding and… difficult government can be.”
Still, the founder underlined Cardano’s enduring technical achievements: “We added one of the largest groups of scientists, formal methods engineers, and software engineers in the history of our industry. “We’ve written hundreds of articles, we’ve written millions of lines of code, and we’ve created something that truly stands the test of time.” For seven years, Cardano has continuously operated “under constant attack, technological and social,” demonstrating its resilience and capacity for long-term stability.
Overall, Hoskinson outlined three clear governance priorities for 2025. The first is chain ratification of the constitution. The community-ratified constitution must be integrated into Cardano’s on-chain governance framework. “We have to ratify the Constitution in a chain. That’s the first one,” he said.
Second comes the transition to an annual budget process. With a large treasury at its disposal (“almost two billion dollars”), Cardano can move beyond ad hoc funding (e.g. Project Catalyst) to a stable annual budget model. “All we have to do is […] “Make sure no one is left behind,” Hoskinson explained, “many of you are working for free right now.” […] “We need to come up with an annual budget process.”
Third is the election of the Constitutional Committee. The current constitutional committee is interim and will be replaced in 2025 by community-elected officials. “I have already said that Input Output will not run in the elections,” he said, ensuring that no founding entity can dominate the process. The ultimate goal: “It’s important for the community to be able to step up and flex their muscles and be in complete control.”
Beyond Cardano
Hoskinson also emphasized the importance of engaging with global crypto industry stakeholders and regulators. “I’ll have to work with the industry as a whole,” he said, mentioning reaching out to figures like Ripple’s Brad Garlinghouse and noting that he was “fully prepared and willing to work with almost anyone.” […] “I really don’t care what they said or did in the past.”
He highlighted the geopolitical realities that shape crypto policy, noting that entities like a16z, Coinbase, ConsenSys, and BlackRock “are going to have enormous influence over crypto policy.” Hoskinson’s stance: Cardano must ensure that it is not “locked out” and should seek partnerships wherever possible. “If they choose to exclude Cardano, it will be very difficult for us as an ecosystem,” he warned.
A unique aspect of Cardano’s governance efforts has been direct community engagement through workshops. “We should hold five workshops every year around the world and grow from 50 to 100 countries,” he proposed. This global dialogue, which costs perhaps “between 5 and 10 million per year”, would be within the means of the network. “When we have a treasury of almost 2,000 million dollars […] “maybe we, as an ecosystem, can find the resources to do it.”
Hoskinson did not hesitate to predict turbulence for next year. “2025 is going to have drama, there is going to be chaos, there is going to be problems,” he said. However, he remained optimistic that through debate, inclusion, and democratic processes, Cardano will achieve lasting decentralization and influence.
“We’re this close to greatness,” Hoskinson insisted. With the full activation of CIP-1694, the introduction of Delegation Representatives (DReps), and a large treasury to drive 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 reiterated his personal commitment: “I care about Cardano more than almost anything in my entire life.”
At press time, ADA was trading at $1.08.
Featured image from YouTube, chart from TradingView.com
