Ava Labs President, John Wu Talks about The Future of Crypto
John Wu, the president of Ava Labs, a free and non-custodial browser extension providing seamless, secure access to Web3 powered by Avalanche, talked about the future of crypto in an interview with RealVision.
Seeing The Today’s Crypto Market
Raoul Pal, CEO and Co-founder RealVision, a platform providing information about crypto investment, asked about how John Wu saw the crypto market and macro market.
John Wu said that “ You actually did a great job of highlighting three different things that make crypto asset prices move the macro environment, liquidity, and the network adoption or usage, I focus on the last one which is kind of fundamentals, but there’s no doubt that macro environment and liquidity will affect the ecosystem.”
He added that the fundamentals were only improving and there are as many transactions on the Avalanche network now. “We had 90 employees back then, now we are headed to 200” and fewer than 50 applications were accepted.
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Tokenization Is Key For The Future
Raoul Pal also asked the Wu what is something that is interesting for crypto now.
Answering the question, John Wu said that asset tokenization can help in the future of crypto to be more efficient in the real world. Creating virtual tokens on a blockchain that represent ownership of a particular property, whether it be digital or physical will be a huge game changer.
“Real-world assets are coming to the blockchain in a permissionless manner. Not just in a permission manner. Financial assets and titles, other things that are traditional in real-life-type assets.The tokenization mechanism making it so easy to issue, to have your own ownership of the asset and be able to transfer that asset later on. And the rights to that ownership and the transfer rights being embedded into code is just a more elegant solution.”
He continued that, “So these real-world assets are trying to explore the tokenization method. And guess what? You have transparency, and you actually save a lot of money because when everyone is working off of the same data set instead of their own style of data sets, you’re creating workflow optimization and better database management effectively.”
"You´re creating a new way to express ownership of value, that´s #Web3 is to me, it´s the internet of value…" pic.twitter.com/fRZRC3SyBX
— Real Vision (@RealVision) September 16, 2022
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