Ava Labs President John Wu Says “Real-World Assets Are Coming to Blockchain”

John Wu, president of blockchain startup Ava Labs — which develops the software for the Avalanche ($AVAX) blockchain — recently shared his thoughts on asset tokenization.

According to a report by The Daily Hodl, during an interview with Real Vision CEO Raoul Pal, Wu explained why he finds the tokenization of real assets using blockchain technology to be one of the most interesting things in the crypto space:

“Real-world assets come to the blockchain in a permissionless manner. Not just in a permissive way. Financial assets and titles, other things that are traditional in real-life type assets...

“The tokenization mechanism makes it so easy to issue, to have your own ownership of the asset and to be able to transfer that asset later. And the rights to that ownership and transfer rights built into code is just a more elegant solution...

“So these real 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 works with the same dataset instead of their own datasets, you create workflow optimization and better database management efficiently.“

On August 26, during a conversation with Bloomberg TV’s Emily Chang and Sonali Basak, he had this to say about the crypto market:

“What the market needs to understand is that there will be alpha in the crypto asset space. There are very good reasons for that... The basics certainly increase and improve. [As for] the technical, if you think about the market values ​​of cryptos, they have gone down, but stablecoins have not... That tells you that a lot of people are just hiding in there ready to distribute...

“I personally think winter will be here a bit longer, but what I’m really looking forward to are these new applications, these new protocols that literally redefine the way businesses operate and will be built... What you can do when tokenization is here in full swing is you’ll code the business logic into a smart contract, and then the platform is the business.“

On July 24, Ava Labs president Anthony Pompliano said during an interview that several big names in the financial and gaming worlds are expected to come on board with Avalanche in the coming year.

While Wu said he was unable to name specifics, he indicated he was “really excited” about the unannounced partnerships, including several “big brand” businesses.

As reported by The Daily Hodl, Wu told Anthony Pompliano:

“I wish I could give you specific names, but I’m really excited about certain traditional brand businesses that are going to be doing some cool things at Avalanche...

“Many of the financial services players are actually experimenting with blockchain. The amount of experimentation of blockchain development – ​​not just experimentation, innovation labs – but the amount of development… They see the technology as a way to create efficiency and create more productivity and push out costs.“