The CoinSpeech team has gathered the most important takeaways from Aaron and Austin Arnold’s recent appearance, focusing on their insightful commentary on Cardano’s potential and the broader cryptocurrency landscape. You can find the Aaron & Austin Arnold’s new video below.
Inflexibility Can Lead to Failure
Discussing the inevitable obsolescence faced by giants like BlackBerry, Yahoo, and Myspace, the key takeaway here is that these companies failed because they were inflexible. “They were inflexible to a changing competitive reality and didn’t understand that their business model was no longer valid.”
Cardano: The Future Dominant Cryptocurrency?
Aaron & Austin highlight Cardano’s potential to outgrow Bitcoin by focusing on flexibility and community-driven growth. “If you build a growth engine that doesn’t lose its people and it’s always adding people… at some point, you just outgrow.”
Global Engagement and Decentralization
Cardano’s success is also tied to its global reach and decentralization philosophy. “Some people are in Argentina right now and they’re fighting like hell to get the Argentine government to adopt some things.” The project has diverse involvement across countries such as Ghana and Vietnam, aiming to create a multi-trillion dollar ecosystem.
Absorption of Competitor Technologies
Another critical strength highlighted is Cardano’s ability to absorb technologies from competitors, which positions it for sustained growth. “The key is to enable and empower these people in the right way that they have the resources and inspiration and tooling necessary to get to the next level.” This adaptability is expected to aid in its dominance.
Cardano Vs. Bitcoin: Beyond Just Being Big
Unlike Bitcoin, which is described as “big and successful,” Cardano aims to offer more substantive value, such as acting as the global payment, credit, and identity system. Aaron & Austin emphasize, “High utility things that are smart contract systems… it’s inexorably higher than Bitcoin.”
Governance: A Key Differentiator
One core aspect of Cardano’s envisioned success is its governance model. Good governance, involving community and decentralized decision-making, prevents fragmenting and ensures sustained innovation. “Governance matters that much; it is really the core differentiator between whether a project is successful or a project will fail.”
Resilience and Community
Aaron & Austin underscore the importance of community resilience and the ability to pivot quickly. “You only need one smart cow to open the fence and then the whole herd gets out.” Cardano’s community-driven approach is poised to innovate continually.
The full interview with Cardano’s founder will be available soon. Click subscribe and turn on bell notifications for more insights, and don’t miss their speaking event at Rare Evo.