Ava Labs CEO Emin Gün Sirer has a bold belief: the general public is completely oblivious to the groundbreaking technological advancements of cryptocurrency and blockchain. In a recent interview with Real Vision, the CEO of Avalanche (AVAX) development firm expressed his view that the entire crypto space is severely undervalued.
Gün Sirer argues that cryptocurrency and blockchain technologies far surpass the capabilities of traditional financial systems. He highlights the inefficiencies and outdated practices still prevalent on Wall Street, such as the use of COBOL programmers and complex layers of systems. In contrast, he praises modern systems like Avalanche and Ethereum, claiming that they are miles ahead in terms of functionality and potential.
The CEO also emphasizes that the average person has yet to grasp the transformative power of crypto and blockchain in finance. He believes that most individuals are unaware of the benefits of smart contract chains, lending platforms, and flash loans. Furthermore, he argues that people fail to recognize the democratizing effect that this space brings.
Gün Sirer asserts that the current valuation of the crypto space falls far short of its true worth. He suggests that it should be valued at least 10 to 100 times higher. In his opinion, society has not fully grasped the value proposition presented by these new systems. He urges people to look beyond the surface-level aspects like speculation and memes, and instead focus on the fundamentally different way in which services are built in this space.
The CEO believes that the societal impact of crypto has yet to sink in, and once it does, the space will reach its true potential. He contends that the current valuation is severely underestimated due to a lack of awareness about the transformative power of crypto and blockchain.
In conclusion, Gün Sirer believes that the masses are in the dark about the immense technological advancements of crypto and blockchain. He argues that the current valuation of the space is significantly lower than it should be, and society has yet to fully comprehend the societal impact that this space can have.
