“[…] and actually we’re going to pull an Elon Musk with how he handled Hyperloop. The other day I sat down reading the peer to peer lending whitepaper that we developed for Marlow and I said, you know, we’re going to implement this, but it would make a lot more sense to write a series of defi papers – just like Elon wrote the Hyperloop paper – and then give it to the community as challenge problems and see who’s going to implement those things.”
As the Cardano inventor pointed out, there are crucial things that IOG has to build, such as “like the stablecoins, the DEXes, and the oracles,” that are presently being created in-house. He further stated that “there’s a lot of great progress there, but there’s a lot more than just those things,” pointing to the ventures that will be created by the community.
Another hint from Hoskinson of forthcoming development was the Alpha Frontier tools being created by Runtime Verification, which will be included in the subsequent “Cardano 360” even in the end of March:
“The other thing is, there’s going to be an announcement for something that we are doing for Yella which I think you guys will be incredibly excited about this. And it’s something I thought would take 3 to 5 years, but my new take is 4 to 6 months. And that’s something we’re going to talk about next month.”
Additionally, Hoskinson shared his overall excitement about the project’s advancement, while revealing that he has recently got in touch with a top US telecom firm to exchange ideas:
“We are making great inroads in Africa, we are making great inroads in Mongolia, we are making great inroads in Georgia, we are making great inroads across the globe. I recently met with a major US telecommunications company, and maybe we will do something with them. Maybe not, but the fact that we got the meeting, and it was taken so seriously tells you where we are at.”
Finally, he stated that IOG has received a lot of enquiries and project ideas and the firm is looking at the option of creating a solution to transfer some of the projects to the community via Project Catalyst.
“We have so many deal in our queue, we can’t service them as a company. And Jerry has this horrible situation where he has to figure out where he says no to. What do I say yes to? Well, we are right now working on an internal program on how do we translate some of the deals that we can’t service into deals that apply for Catalyst funds. And there are some flagship deals that we are pushing that way, and the community can then start working with them.”