In his latest live broadcast Charles Hoskinson, founder of Cardano (ADA) and CEO of Output Output Global (IOG), outlined his vision for blockchain network governance, institutional structures and strategic milestones leading to 2025. During a lengthy and candid speech, Hoskinson brought together Cardano’s governance efforts to date , current institutional frictions and upcoming priorities, repeatedly emphasizing the imperative of decentralization, open participation and dynamic global engagement.

Hoskinson began by reflecting on the recently concluded Constitutional Convention, a multi-year effort to create a up-to-date governance framework for Cardano. “As many of you saw from the results of the Constitutional Convention, this was the culmination of two years of efforts around the world,” he said. This global process involved “hundreds of workshops, thousands of people in over 50 countries” and culminated in a draft constitution approved by 95% of the 50 elected delegates and their alternates.

He emphasized 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 send such a short notice.” For Hoskinson, seeing the ecosystem come together into a unified, if imperfect, document 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 ahead. Cardano’s next milestone is the implementation of truly decentralized governance. “We have some challenges, and those challenges will be the complete decentralization of Cardano management,” he said. The tension lies between Hoskinson’s vision of “member-based institutions and on-chain governance” and voices advocating a longer transition period within controlled institutions. He emphasized: “Others believe that a longer transition period is needed and institutions are needed […] that are not subject to the democratic whims and will of the ecosystem.”

Hoskinson, on the other hand, has long advocated for a system built from scratch. He explained his core principle: “I have always believed that the key is to build member-based institutions and chain governance, ensure that they work well together, and make sure that all key roles are selected and constrained by the rule of law – primarily algorithmic law […] because it is the strongest, and constitutional law comes second.”

Going back to Cardano’s early days, Hoskinson took responsibility for some structural governance shortcomings. “All the governance failures we see today are directly or indirectly my fault,” he admitted, acknowledging that initial projects – such as the early tripartite agreement between IOG, Emurgo and the Cardano Foundation – were conceived before the full complexity of governance was made fully understood . “I was young and didn’t fully appreciate or understand how complicated, snake-like, and…difficult management could be.”

Still, the founder emphasized Cardano’s enduring technical achievements: “We have built 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, millions of lines of code, and created something that truly stands the test of time. For seven years, Cardano has been under constant technological and social attack, proving its resilience and ability to ensure long-term stability.

Broadly speaking, Hoskinson outlined three clear governance priorities for 2025. The first is chain constitutional ratification. The community-ratified constitution must be integrated into Cardano’s onchain governance framework. “We must ratify the constitution on a chain. This is the first,” he said.

Second, there is a shift to an annual budget process. With a gigantic treasury at its disposal – “nearly two billion dollars” – Cardano can move beyond ad hoc financing (e.g. Project Catalyst) towards a stable, annual budgeting model. “All we have to do is this […] make sure no one is left behind,” Hoskinson explained, “many of you are working for free right now […] we need to move to an annual budget process.”

The third one is the election of the Constitutional Commission. The current constitutional committee is short-lived and will be replaced in 2025 by community elected officials. “I have already said that Output Output will not stand for election,” he said, assuring that no single founding entity would be able to dominate the process. The ultimate goal: “It’s important for the community to be able to step up, flex their muscles and be in complete control.”

Outside of Cardano

Hoskinson also emphasized the importance of working with stakeholders and regulators in the global crypto industry. “I’m going to have to work with the entire industry,” he said, mentioning dealing with the likes of Ripple’s Brad Garlinghouse and noting that he was “fully prepared and willing to work with virtually anyone […] I don’t care what they said or did in the past.”

He highlighted the geopolitical realities shaping crypto policy, noting that entities like a16z, Coinbase, ConsenSys, and BlackRock “will have a huge impact on crypto policy.” Hoskinson’s position: Cardano must ensure it is not “foreclosed” and must seek partnerships where possible. “If they decide to exclude Cardano, it will be very difficult for us as an ecosystem,” he warned.

A unique aspect of Cardano’s governance efforts was direct community participation through workshops. “We should organize five groups of workshops around the world every year and expand from 50 to 100 countries,” he proposed. This global dialogue, costing perhaps “5 to 10 million a year,” would be within the reach of the network. “When we have a treasury worth almost $2 billion […] maybe we, as an ecosystem, could just find the resources to do it.”

Hoskinson did not hesitate to predict turmoil in the coming year. “2025 will be a year of drama, chaos and problems,” he said. However, he remained bullish that through debate, inclusion and democratic processes, Cardano would achieve lasting decentralization and influence.

“We are so close to greatness,” Hoskinson insisted. With the full activation of CIP-1694, the introduction of delegation representatives (DReps), and a gigantic treasury to fuel innovation, “Cardano will be where it needs to be.” He insisted that the community “judge us not by what we say, but by what we do,” and reiterated his personal commitment: “I care about Cardano more than anything else in my life.”

At the time of publication, ADA was trading at $1.08.

Featured image from YouTube, chart from TradingView.com