The incoming CEO of the Cardano Foundation has many ambitious plans, and independency is one of his goals. Cardano coin is currently standing at 12th spot on CoinMarketCap by trading volume.

Independency of Cardano Foundation

Cardano protocol has a complex governance infrastructure but it is purely working with checks and balances. He mentions three major players including IOHK, Cardano Foundation, and EMURGO. The governance of the network will become complicated as a result of the addition of more organizations. He has a plan to separate the Cardano Foundation from Charles Hoskinson, founder and CEO of Foundation and IOHK. It is also the agenda of Hoskinson to maintain the independence of the company from any external influence. Cardano’s Incoming CEO Frederik Gregaard, said:

“The Foundation law in Switzerland says that we need to be independent. That’s exactly why it’s interesting and why Charles chose to set it up like that, because he really, truly feels that the people who are going to protect the Cardano protocol for the generations to come, need to be independent.”

Advancement of Cardano Protocol

The development and advancement of “Cardano Protocol” is also a mission of the Foundation. The contract between the development company behind the protocol, IOHK, and Foundation will expire at the end of this year. However, the community will decide to extend the contract between both entities. IOHK is a separate entity that is also working with other projects besides Cardano Foundation. EMURGO who is now a well-established company came into existence as a venture arm of the ecosystem.

Gregaard also praises Hoskinson and calls him a visionary person who is more than a head for Cardano. According to Gregaard:

“Charles did initiate the project together with one of his colleagues. So, there’s no doubt about how brilliant he is and how visionary he is. But he’s running a product company that needs to deliver products. <…> I’m sure that there are going to be some fights in terms of priorities and some spots where we believe, together with the community maybe, that we should go a bit more right and Charles wants to be a little bit more left and we need to agree on that together.”