- As blockchain remains a solution provider for all markets, will it ever replace old global systems?
- Emin Gun Sirer, the founder and CEO of Ava Labs, answers this in an interview at The Wolf Of All Streets.
Will Wall Street ever discard their old systems and move to blockchain based solutions?
I asked @el33th4xor for his thoughts.
— The Wolf Of All Streets (@scottmelker) September 5, 2021
Sirer on Bitcoin and Blockchain
Nowadays, there are absurd and skeptical claims about Bitcoin. Sirer then shared his thoughts about these thoughts. He said, with Bitcoin’s long history and position in the global market, he believes that Bitcoin is still not obsolete.
He mentioned that Bitcoin is the first and oldest cryptocurrency in the world. Sirer added that Bitcoin already solidified its identity as “digital gold.” However, he also emphasized that Bitcoin is not a “winner takes all” scheme—it requires patience and time.
On the other hand, he also suggested that businessmen today should “work on blockchains and take a closer look at it.” Especially now that more people start to see the “value of these centralized platforms.”
Consequently, Scott Melker, the Producer and Host of The Wolf Of All Streets, asked Sirer:
So, [do you think] we wouldn’t replace global systems, as it [blockchain and Bitcoin] becomes a better option?
Sirer fervently denied this claim. He answered,
I don’t think that’s going to happen.
According to Sirer, global systems will not be “replaced” but a “different and flourishing ecosystem will emerge—with new companies, new projects, and new efforts.” Further, Sirer believes that “companies will shift to this new base.”
Avalanche in 10 Years
In 10 years, Sirer believes that Avalanche will be able to build efficient protocols that don’t require big equipment or supercomputers. Not all people won’t be able to have access to such technologies because it requires big equipment. More so, this is the reason why Avalanche aims to change that.
Sirer also shared his other visions for Avalanche. He said in 10 years, it would have many coins and many subnets dedicated to assets in different legal jurisdictions. He added, he sees exciting new assets and revolutionary things that will allow Avalanche to trade coins cheaply. With this, he believes that Avalanche will have a much bigger system to house a bigger user community.
Most importantly, he emphasized that enterprises will be able to “build something on Avalanche.”