There has been lots of criticism for Charles Hoskinson lately over Atala. This is a permissioned blockchain that the IOHK has built and signed an MOU with Ethiopia for its usage. While Atala is a big deal, since it mirrors the IBM blockchain, which has seen significant levels of adoption, part of the Cardano community is not impressed.
The feeling is that, Charles Hoskinson and the IOHK are moving from project to project, without first completing work on Cardano. The criticism is given weight by the fact that Shelley has been delayed again, and there is no clear communication on when it will be released. All the community is getting is, “it will be ready when it’s ready.”
While these are legitimate reasons for concern, chances are that Charles Hoskinson and his company have a bigger reason to want ADA to succeed than most investors. Reason? Money! Majority of the investors in Cardano (ADA) and crypto in general are in it for the money. The tech may be hyped up as a primary motivator, but the bottom-line is that, everyone wants to make good money out of it. This is actually a good thing because, it is the best reason to bet on Charles Hoskinson and the IOHK with regards to ADA.
The IOHK holds more than 2 billion ADA, which makes them among the largest holders of ADA. Therefore, they have a huge incentive to see it succeed. If Cardano were to rise back to its all-time highs, Charles Hoskinson would be happier than the average investor. That’s because, it would make him insanely wealthy. Charles would easily enter into the Forbes list of richest people in the world. It’s not an opportunity he would want to miss out on. It’s the nature of capitalism, everyone wants to get more. One can argue that Charles Hoskinson is already wealthy, and may not have the incentive to want more. Well, such an analogy is flawed because, if that were the case, the richest people in the world would not investing.
In essence, in spite of the delays that Cardano is experiencing, chances are that Charles Hoskinson wants Cardano to succeed way more than the average investor. As such, any delays with Shelley could have some genuine concerns behind them. There is also a good chance that Atala in one way or the other will connect to the Cardano blockchain and play a role in driving up the value of Cardano (ADA). There is no way, Charles Hoskinson would sabotage himself, and end up losing on potentially billions of dollars in a few years.
Due to this capitalistic motive, it makes sense to hold Cardano (ADA). Once Shelley is released, and it becomes clear how Atala relates to Cardano (ADA), this crypto could skyrocket. Besides, bulls seem to be retuning, as Bitcoin crosses back above $6k again. It won’t be long before altcoins follow suit and Cardano being one of the most visible of them, stands to gain the most.