Internal trouble in Cardano: Charles Hoskinson calls for the resignation of the Cardano Foundation President

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In a published yesterday letter from Charles Hoskinson (IOHK) and Ken Kodama (CEO of Emurgo) call on the Cardano Foundation voluntarily to the Swiss authorities and demanding the resignation of the current Foundation President Michael Parsons. In the letter to Hoskinson and Kodama of the “great Frustration to write” due to failure to act and the perceived deficiencies in the work of Cardano Foundation. In return, IOHK, and Emurgo offer to take over until 2020, the tasks of the Foundation.

The Cardano-the project currently consists of three independent institutions: IOHK, Emurgo and the Cardano Foundation, all of the various tasks for the project. During the IOHK around Charles Hoskinson has the main task to develop the Cardano-Protocol technically, from research to implementation, as well as of the Peer-Review process, has Emurgo take care of the task of the risk capital, partnerships and business development. The Cardano Foundation was established to take on administrative tasks. Among other things, the Cardano Foundation was entrusted with the procurement of trademark rights. The Foundation should also be in the area of regulatory Relations and Lobbying, and public Relations actively.

In the yesterday published a letter press Hoskinson and Kodama now their “great Frustration” over the failure to act and the perceived deficiencies of the Cardano Foundation. In a Youtube Video published Hoskinson explains clearly that the Board “has not fulfilled its core functions and obligations”. Overall, the Cardano Foundation 8 misconduct before throwing both in the letter:

  • A lack of strategic Vision
  • The Lack of a clear public Plan for how the Foundation will use its resources for the benefit of the community.
  • The lack of transparency in the activities of the Foundation
  • Material misrepresentations and false statements of the Foundation Council, including the claim that he owns the trademark Cardano.
  • Lack of financial transparency
  • The Lack of a full and diverse Foundation Board
  • A lack of concept of how the millions of dollars allocated to the Foundation, the Cardano-community benefit will come.
  • The lack of use of an internal Governance system in Cardano Foundation.
  • In addition to the requirement that the current Cardano Foundation President, Michael Parsons will step back and the Foundation is subjected to the Swiss law, demanding that Hoskinson and Kodama that IOHK and Emurgo take on the role of the Foundation. Both companies want to commit until 2020 to take on the so far, the Cardano Foundation. In particular, IOHK, and Emurgo want to take over the following tasks:

  • Setting of dedicated Community managers, in order to improve the growth and Information to the Community through Meetup groups, events, and other educational measures.
  • It should be set, subject to negotiations, employees of the Cardano Foundation, are directly involved with the Community Management.
  • IOHK will work with Emurgo to companies in Japan, efforts to improve access to crypto-currency exchanges and the understanding of the community for Cardano.
  • Intensifying educational and marketing efforts
  • Setting of the Open-Source Community Manager, edited the Cardano suggestions for improvement
  • Extension of the research area, to apply originally for the Cardano Foundation designated areas
  • The Start of a research agenda to design a decentralized Foundation, which is designed as a DAO (“distributed Foundation built as a DAO”)
  • The Foundation has not yet responded to the letter. However, it is not to be assumed that this remains unanswered. We are looking forward to the answer and will report if there are news for the internal dispute with Cardano.

    According to the letter published Video by Charles Hoskinson, where he talks about other backgrounds to the current Situation, it is to see the following:

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