The CEO of IOHK Charles Hoskinson has confirmed on several occasions that IOHK is fully funded to complete all planned development until at least 2020. In the latest statement by the CEO, he added that due to the appreciation of Bitcoin, IOHK and Emurgo are sufficiently funded to commit to the additional roles too. Due to this, the loss of access to the ICO funds and ADA allocation of the Cardano Foundation shouldn’t 100% limit the over the development of Cardano.

An open letter by IOHK and Emurgo also described the Foundation’s statements that it owned the trademark for Cardano were incorrect. If it was right then IOHK and Emurgo will be able to just continue to develop the technology and brand as originally planned, supported by the newly hired personnel which will perform the tasks that the Foundation couldn’t.

As reported on

Hackernoon

:

“The potential inaccessibility of the ADA allocated to the Cardano Foundation (~648M ADA) does have implications. Aside from the fact that these funds would be unavailable for community and ecosystem development as originally planned, they represent ~2.5% of the circulating supply.”

This is nowhere near enough to pose a direct threat to the security of the system which requires a >50% stake, however, the allocation would represent a big stake in the envisioned liquid on-chain democracy and could result in a influence on the future of Cardano.

While the monetary losses hurt, especially if the reputation damage may have long-term repercussions for Cardano. If all the negative effects could be prevented there still wouldn’t be an actual reason to panic about the system, brand reputation also has an ‘emotional nature’. While negative associations can’t be fully prevented, if you are transparent and brisk when it comes to acting on surprise setbacks this will most likely help. A good example of this is when Charles Hoskinson appeared on the popular YouTube channel ‘The Crypto Lark’ to go through the situation or doing a AMA to answer questions from the community.

“A few days ago, the Guardians of Cardano’s Twitter account has been restricted, which some see as a sign that “whatever is being pushed, it’s working”. The Guardians replied in this thread, saying “They can silence our Twitter account but they can’t stop us from pointing out the shameful silence of Parsons.”

What are your thoughts? Let us know what you think down below in the comments!