Trust >>> Everything
Charles Hoskinson (Cardano $ADA and Midnight founder) gave the following speech summary on October 2, 2026, at the United Nations Headquarters. This is a summary of his approximately 35-minute keynote on the topic he delivered at the FinTech Summit “Future of Money, Governance, and the Law 2026,” hosted by the Government Blockchain Association. He focused on the regulatory challenges of “exponential technologies” and proposed solutions to address the problem through the blockchain industry.
Core argument: the characteristics and risks of exponential technologies. Technologies such as nuclear weapons, the internet, AI, and synthetic biology all exhibit the trait that “a little change can transform everything.” In the past, nuclear weapons were tightly controlled by states. But now, technologies of equal or greater strength are in the hands of private companies and open-source communities, and regulatory pace cannot keep up with technological evolution.
The only feasible way to regulate: it must use the blockchain industry itself to regulate these technologies, because blockchain evolves at a pace comparable to technologies like AI.
Specific proposal: open-source regulation. The regulator only needs to clearly state what it wants to protect. Then the industry writes compliance code in an open-source manner. After certification by the regulator, businesses that adopt this code are considered compliant $WMTX .
Benefits include: shifting the regulator and industry from confrontation to cooperation; dramatically reducing global annual compliance costs of about $500 billion for audits, KYC, fines, etc.; and gradually replacing traditional compliance personnel with “compliance engineers.”
Role of $NIGHT : Midnight is positioned as critical infrastructure. It can meet regulatory requirements while protecting user privacy and identity verification to the maximum extent, enabling “no wrongdoing.”
If we look at price, from March 2021 to June 2026, there has been a full 96% drop—which is certainly not good news for investors. But when I consider the project’s progress and the founder’s blueprint, I’m still willing to hold. Do you support Charles’s view?
Charles Hoskinson (Cardano $ADA and Midnight founder) gave the following speech summary on October 2, 2026, at the United Nations Headquarters. This is a summary of his approximately 35-minute keynote on the topic he delivered at the FinTech Summit “Future of Money, Governance, and the Law 2026,” hosted by the Government Blockchain Association. He focused on the regulatory challenges of “exponential technologies” and proposed solutions to address the problem through the blockchain industry.
Core argument: the characteristics and risks of exponential technologies. Technologies such as nuclear weapons, the internet, AI, and synthetic biology all exhibit the trait that “a little change can transform everything.” In the past, nuclear weapons were tightly controlled by states. But now, technologies of equal or greater strength are in the hands of private companies and open-source communities, and regulatory pace cannot keep up with technological evolution.
The only feasible way to regulate: it must use the blockchain industry itself to regulate these technologies, because blockchain evolves at a pace comparable to technologies like AI.
Specific proposal: open-source regulation. The regulator only needs to clearly state what it wants to protect. Then the industry writes compliance code in an open-source manner. After certification by the regulator, businesses that adopt this code are considered compliant $WMTX .
Benefits include: shifting the regulator and industry from confrontation to cooperation; dramatically reducing global annual compliance costs of about $500 billion for audits, KYC, fines, etc.; and gradually replacing traditional compliance personnel with “compliance engineers.”
Role of $NIGHT : Midnight is positioned as critical infrastructure. It can meet regulatory requirements while protecting user privacy and identity verification to the maximum extent, enabling “no wrongdoing.”
If we look at price, from March 2021 to June 2026, there has been a full 96% drop—which is certainly not good news for investors. But when I consider the project’s progress and the founder’s blueprint, I’m still willing to hold. Do you support Charles’s view?
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