Foundation Chairman’s Resignation Restores Equilibrium to Cardano Project

Foundation Chairman’s Resignation Restores Equilibrium to Cardano Project

The well-publicised internal dispute within the Cardano project appears to have been resolved finally with the Cardano Foundation’s announcement of the resignation of its chairman, Michael Parsons.


Mr Parsons had reportedly come to be seen as a divisive influence by elements within Emurgo, the commercial arm of Cardano led by Ken Kodama; and IOHK, the software house responsible for its technological development lead by Charles Hoskinson.

BRIEF STATEMENT

The brief, one paragraph statement by the Cardano Foundation explained that “Michael Parsons, Chairman of the Foundation Council of the Cardano Foundation, has resigned with immediate effect. Pascal Schmid, Council Member, will take over as Chairman of the Foundation Council on an interim basis.”

Swiss national Mr Schmid will be tasked with finding “suitable persons” to supplement the Foundation Council, which had previously been a source of contention within Cardano’s trinity power structure.

In that disclosure, Charles Hoskinson explained that “…since 14 July, 2017, the Foundation has, in effect, been controlled by Mr Parsons. He has been acting as the Foundation’s de facto sole decision-maker in respect of the day-to-day business of the Foundation and ruling its staff like a monarch. For more than 15 months, there appear to have been no reasonable attempts to fill the 2 council vacancies.”

With those vacancies filled, the Foundation may once again be able to focus on driving adoption of the Cardano platform, allowing IOHK to once more focus on the technology and Emurgo to direct commercial projects.