Cardano Foundation Urged to Leave Switzerland for Community-Driven Governance
Charles Hoskinson, the founder of Cardano, has recently stirred up controversy by calling for the Cardano Foundation to relocate to a jurisdiction that allows its users to elect board members. In a social media post on Dec. 18, he encouraged the Cardano community to question the Foundation’s board structure and decision-making processes, expressing concerns about the lack of community input in appointing board members by the Swiss government.
Hoskinson’s Critique and Proposed Solutions
Hoskinson criticized the Foundation for its current arrangement in Switzerland and suggested moving to regions like Abu Dhabi or Wyoming, which support more inclusive governance models. He emphasized that such a move would enable the community to collaborate with the Foundation in designing a new structure that prioritizes transparency and member participation.
“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,” Hoskinson stated.
Cardano Foundation Setup and Challenges
Established in 2016 under Swiss law, the Cardano Foundation faces limitations in conducting community-based board elections. The Foundation clarified that the legal form chosen in 2016 may not align with a membership-based model, leading to ongoing governance issues, internal conflicts, and allegations of marginalizing key contributors.
Despite efforts to enhance transparency through open forums, calls for leadership restructuring persist. The Foundation is set to host an X Spaces series for its top leadership to address operational matters and provide insights into its operations.
As the Cardano Foundation grapples with governance challenges, the community eagerly awaits potential changes to ensure a more inclusive and transparent decision-making process. The Foundation’s willingness to engage with the community and explore alternative jurisdictions signifies a significant shift towards a more community-driven governance model.