Cardano Founder Says Crypto Exists to Change the World, Not Enrich Banks

Cardano founder Charles Hoskinson argued that the cryptocurrency industry’s ultimate mission is to transform society rather than enrich powerful financial institutions. 

Hoskinson shared this perspective during a keynote speech at Consensus 2026, where he emphasized self-sovereignty, decentralization, and the need for blockchain technology to empower individuals rather than strengthen traditional financial systems.

Key Points 

• Cardano founder Charles Hoskinson argues that the cryptocurrency industry’s core mission should focus on changing the world, rather than enriching large financial institutions.
• Hoskinson believes blockchain technology should empower individuals to become their own bank by giving them full control over their wallets, assets, and digital identities.
• He stresses that it does not matter whether this transformation is driven through XRP Ledger, Solana, Bitcoin, or Cardano. 
• Hoskinson highlighted JPMorgan Chase as an example of how traditional financial institutions have shifted from aggressively criticizing crypto to actively operating blockchain-based products and services.

Hoskinson Says Crypto Is Here to Change the World  

During his speech, Hoskinson presented a vision for the future of the cryptocurrency industry. He stressed that the sector should not focus on making large financial institutions wealthier, particularly those he believes contributed to the 2008 global financial crisis. 

Instead, he argued that the industry should prioritize empowering individuals through financial sovereignty, digital identity ownership, and decentralized infrastructure.

According to Hoskinson, crypto exists to change the world by enabling people to become their own bank, control their own wallets, and manage their own identities. 

I Don’t Care If Change Comes Through Cardano, XRP, or Bitcoin: Hoskinson 

Despite leading the Cardano ecosystem, he rejected blockchain maximalism. He emphasized that it does not matter whether this transformation comes through the XRP Ledger (XRPL), Solana, or the Bitcoin network. 

Furthermore, Hoskinson urged the industry to focus on the “connecting tissue” between blockchain ecosystems rather than fueling rivalries between networks. 

Notably, Hoskinson has consistently advocated for interoperability across the crypto sector. In late 2024, he attempted to build alliances with Ripple and Stellar. Additionally, Cardano’s partner chain, Midnight, distributed some of its tokens to users across seven different blockchains, including Bitcoin and XRP. 

Cardano Founder Reflects on Crypto’s Survival

Hoskinson also reflected on the cryptocurrency industry’s resilience despite years of regulatory scrutiny, skepticism, and repeated market downturns.

“It’s been a wild time. The industry is still here. We’re not dead, and we’re not in jail, and the president likes it,” Hoskinson remarked.

Moreover, he contrasted the industry’s difficult early years with today’s increasing institutional acceptance, specifically referencing JPMorgan Chase. According to Hoskinson, the bank once shut down accounts linked to crypto-related activities. 

However, JPMorgan has since changed its stance and now offers blockchain-related products and crypto exposure to wealthy clients. The bank also operates a private blockchain network and has its own stablecoin. 

Hoskinson argued that this shift demonstrates how far the crypto industry has progressed and serves as evidence that the sector is “doing something right.”