Charles Hoskinson is the creator of Cardano and has asked that the Cardano Foundation relocate in a country where its users can elect their board members.
This issue was raised in a social media post he made on December 18th, encouraging Cardano users to contact the Foundation and ask questions regarding its governance structure and decision making processes.
Cardano’s creator expressed his concerns over the current system, which sees the Swiss Government appointing board members with no input from the community. He also urged the community to inquire about individuals connected to the Foundation’s past decisions and its relationship with Intersect.
Hoskinson criticised the Foundation in light of this for not moving its headquarters to regions such as Abu Dhabi or Wyoming that promote more inclusive governance.
Hoskinson stated that this move would give the Foundation the opportunity to create a new system which promotes transparency and membership participation. He said:
“The foundation shouldn’t be in Switzerland. There are many jurisdictions that allow for different DLT foundations like Abu Dhabi or Wyoming. The community could design with the CF a new structure, and the CF could grant the funds to this structure.”
Cardano Foundation setup
The Cardano Foundation, established in 2016, operates under Swiss law, which doesn’t allow for community-based board elections. The Foundation explained:
“The foundation model is the legal form that was chosen in 2016 when the Cardano Foundation was set up. If the goal was to create a membership-based model, the legal form of a Swiss association, such as we used for PRAGMA, would have been a more suitable choice.”
Meanwhile, Hoskinson’s latest comments come as the organization continues to face criticism over governance issues, internal conflicts, and alleged marginalization of key contributors.
The need to restructure leadership persists despite efforts at improving transparency via open forums. At present, the Foundation Plans The company will host a series of X Spaces in which the top management provides more information on its operation.
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