Charles Hoskinson, the CEO of Cardano has launched the Wyoming Integrity Political Action Committee. According to reports, the new initiative will be based in Cheyenne, Wyoming, and target procuring government contracts and tech projects in an ethical way. The highlight is to ensure that the system is used for collective gain.
The PAC is coming off an announcement from Wyoming to launch a stablecoin backed by the state as it continues to build up to launching its crypto-friendly laws. The stablecoins will be government-backed and will be used for payments, decentralized finance services, and other uses. Cardano has been anticipated to be part of the plan, although no partnership has been formally announced.
Charles Hoskinson’s PAC mission
Charles Hoskinson has been working with both federal and local lawmakers to push crypto-friendly laws. The Cardano boss showed it at the presidential elections in November 2024. “I’m proud to deepen my commitment to Wyoming,” Charles said. “We’re laying down a framework for fairness and transparency so everyone gets a fair shot.”
The Cardano boss claims that the PAC will open the playing field, allowing everybody to get a fair chance so the best idea can win. He basically wants to remove the notion that only well-connected firms win. “Without a solid foundation of trust and accountability, the tech boom could collapse,” Charles said.
Hoskinson worked with lawmaker Tyler Lindholm and former Deputy Secretary of State Karen Wheeler in the past, helping them to understand Blockchain technology. The state was one of the few to establish decentralized autonomous organizations (DAOs) as legal entities. The University of Wyoming is currently running a live demo on the Cardano manner as it intends to show its tech capabilities.
The demo will focus on the ‘Freeze and Seized feature, which will be integral to the newly created stablecoin. The feature will allow the asset to be locked or seized if the need arises, an important feature for stablecoins backed by the government.