Charles Hoskinson Criticizes Wyoming Stablecoin (WST) Project's Blockchain Selection Process, Alleges Bias

Charles Hoskinson criticized the blockchain selection process for Wyoming's Stablecoin (WST) project, saying it unfairly excluded several blockchain projects

Input: Wyoming Stablecoin (WST) project has sparked a response from Charles Hoskinson, who criticized the blockchain selection process, highlighting XRP’s exclusion and a shift in the project's direction.

Crypto influencer Ben Armstrong's statements on the matter prompted Hoskinson's remarks, leading to further discussion on the WST project's blockchain selection.

Hoskinson's remarks centered on the potential benefits XRP could have gained by participating in the WST project, emphasizing how it would have provided a valuable opportunity to enhance liquidity on the XRP Ledger.

Highlighting Ripple's involvement with the RLUSD stablecoin, Hoskinson suggested that Ripple's participation could have resulted in the issuance of millions of dollars in stablecoins, boosting liquidity on major exchanges and increasing XRP's presence.

However, Hoskinson noted that the WST project ultimately chose Circle, overlooking Ripple's offering. He believes that if XRP were permitted to participate, its capabilities would have been showcased on a grander scale.

Hoskinson also raised concerns about the exclusion of Cardano, XRP, and Bitcoin from the blockchain selection process, emphasizing a need for greater fairness and inclusivity in blockchain adoption.

According to Hoskinson, limiting the choices to specific blockchains stifles competition and innovation. He advocates for more transparency and openness in future blockchain initiatives, arguing that allowing multiple blockchain projects to showcase their capabilities would benefit the crypto industry as a whole.

In addition, Hoskinson mentioned that the WST project, which was initially envisioned as a multichain solution to rival offerings from Circle and Tether, had shifted in direction.

According to Hoskinson, the project's focus shifted towards Ethereum with Anthony Apollo's involvement, deviating from its original multichain intent. This change, he claims, resulted in a less transparent evaluation process that limited the opportunity for other blockchain projects to present prototypes.

Despite the setbacks, Hoskinson acknowledged Ripple's success in obtaining NYDFS approval for its RLUSD stablecoin. While he recognized this as a positive step for Ripple, he maintained that it did not fully compensate for the missed opportunity in Wyoming.

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