Saxo Bank Founder Compares Blockchain with Onset of Internet Era

Despite the fact that the prices of digital assets have remained relatively unchanged and investor interest has maintained a low level, blockchain technology’s potential to transform and upend existing sectors has continued to attract the attention of eager builders. In an interview with Cointelegraph, Lars Seier Christensen, the founder of the investment banking company Saxo Bank, said that the fundamental properties of blockchain were the driving force behind his decision to join the sector and develop the Concordium blockchain project.

He said, “I am excited by the numerous ways blockchain may be used in the real world to enhance data security, verify ownership, and bring efficiency, traceability, and provenance to a wide variety of operations. I am excited by the numerous ways blockchain may be used in the real world to enhance data security, and verify ownership.”

Christensen made the proclamation that in the not-too-distant future, new business models will be formed making use of technology. The chief executive officer, however, is of the opinion that the crypto investment environment is still immature in comparison to traditional finance and that a great number of efforts are destined to fail. Despite this, Christensen also pointed out that some people will come into view as the fog clears. He said:

“The initiatives that are built on hot air and hype will fail, but wonderful projects and businesses that will be beneficial to the economy of the future will arise from the ashes. As a result, this is an excellent restructuring that will, over the course of the next few years, focus investors much more on the level of technology and research.”

Christensen, who was an early user of the internet with Saxo Bank, said that there was “a lot of nonsense” back then, which is akin to the current circumstance of the industry as a whole. Despite this, the CEO remains optimistic about technological advancement. He made the following statement: “In my perspective, the blockchain has the greatest transformational potential of any new technology since the internet.”

When the CEO of the company was asked for advice for persons with a background in traditional banking who are interested in blockchain and cryptocurrencies, he recommended such people to have the tenacity and confidence to be a part of the changing profession.

In addition to this, he offered guidance to folks during the whole of the crypto winter. According to the individual who established Saxo Bank, investors are obligated to do independent studies and evaluate the relevance of various efforts.

At the fifth Ethereum Community Conference, a developer advocate from 0x Labs said that the crypto winter presents a chance to place more emphasis on the validity of blockchain technology. Despite the prices that are currently being offered on the market, the employee at 0x Labs believes Ethereum is a secure platform for development.