Emin Gün Sirer, in an interview with Real Vision, assured that anyone who has experience working on Wall Street and uses standard accounting tools will understand that blockchain cryptocurrencies are much ahead.
“Companies still hire programmers who know the general-purpose COBOL language, which is aimed at commercial tasks. In this way, they try to maintain the functionality of their systems. Now take a look at the modern Avalanche or Ethereum networks. They are several miles ahead,” the businessman reasoned.
Most companies do not pay attention to the potential of blockchain technology, laments the CEO of Ava Labs. According to Sirer, many financial institutions still do not know how to implement smart contracts in their operations. The reason: companies have not yet seen the action of smart contracts for lending platforms and have not realized how easy it is to use this tool. But the introduction of smart contracts in lending can increase the efficiency of financial transactions.
“The potential of the crypto space is not fully appreciated. We are far below the level we could be if people realized the positive social impact blockchain has. Society has little understanding of the value of Web3. However, cryptocurrencies are not going anywhere, because they are much better than traditional finance,” summed up the CEO of Ava Labs.
Recently, Emin Gün Sirer warned about the emergence of a large number of second-tier garbage solutions that have no real value for investors.
Source: Bits
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