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The founder of Cardano (ADA), Charles Hoskinson, recently expressed his concerns about the future of the Network of 1 Layers in the Face of Gafam in the Blockchain world. According to him, companies such as META, Google, Apple, Microsoft and Amazon could soon dominate the crypto space and include current blockchains in the background. Which would probably mean the end of the cryptovisse industry, as we know today.
Will Gafams Krypto dominate? Charles Hoskinson warns
During the live stream to X Charles Hoskinson, he said that the real competition of blockchains like Cardano, Ethereum, Solana or Bitcoin does not come from other crypts, but large technology companies such as Microsoft, Apple, Google and Amazon.
According to him, once the regulations are introduced, these companies can easily integrate the blockchain solution into their existing services. Remarkably, it imagines a scenario in which Android and iOS would include a crypto portfolio by default, so decentralized solutions for users much less attractive.
A significant competitive advantage
In addition to sophisticated infrastructure, large technology companies already have a massive user base, some of the 3 billion users! With their payment services, such as Apple Pay and Google Pay, they could quickly run their own stablecoins or connect with established players like Circle.
Hoskinson emphasizes that these companies have already managed the operating systems of most smartphones around the world. This gives them a huge power to store their own blockchain solutions at the expense of contemporary decentralized crypto networks.
A disaster for the current crypto industry?
If technology giants like Apple, Google or Microsoft actually launched their own blockchain or layer 1 network, the current crypto industry could undergo the main shocks. Thanks to its huge user base and control of operating systems, these companies would quickly store their solutions, which has observed many decentralized projects.
Bitcoins, Ethereum, Solana and even Cardano could see how their adoption slows down or even falls in the face of centralized alternatives, but more accessible and integrated into existing ecosystems. This would be contrary to the founding principles of crypto, which would endanger the decentralization and financial sovereignty of users.
The arrival of technical giants into space blockchain could therefore mean a decisive turning point for the crypto industry. If these companies manage to save their own centralized networks, the eclipse of existing decentralized projects can thus threaten innovations, financial sovereignty and the basic spirit of cryptocurrency.
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The world is evolving and adaptation is the best weapon that survives in this undulating universe. I am interested in everything about blockchain and its derivatives. To share my experience and promote an area that fascinates me, nothing better than writing informative and relaxed articles simultaneously.
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The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.