Blockchain has the biggest potential since the internet: Saxo Bank founder

While crypto prices are calm and investor interest remains low, blockchain’s potential to transform and disrupt industries continues to attract those eager to build independence from digital asset prices.

Lars Seier Christensen, the founder of investment banking firm Saxo Bank, told Cointelegraph that blockchain’s inherent features made him decide to jump into the space and run a blockchain project called Concordium. He explained that:

“I am fascinated by the many ways blockchain can be used in the real world to improve data security, prove ownership and add efficiency, traceability and provenance to many processes.”

Christensen said that through technology, new business models will be invented in the near future. However, the manager believes that the investment scene in crypto is very immature compared to traditional finance, and there are many projects that will not make it. Despite this, Christensen also pointed out that there will be some who will rise from the fog. He said:

“The projects that consist of hot air and hype will fail, but out of the dust will rise big projects and companies for the economy of the future. So it’s a healthy shake-out that will focus investors on technology and scientific quality much more in the coming years.

As an early adopter of the Internet at Saxo Bank, Christensen mentioned that there was “a lot of nonsense” at the time, and it is similar to the current state of the industry. Despite this, the manager puts his faith in the technology. “In my view, blockchain has the greatest transformative potential of any new technology since the internet,” he said.

When asked if he has any advice for those who also come from a traditional finance background and are interested in blockchain and crypto, the leader said that they should have the perseverance and courage to be part of the development space.

Apart from this, he also had some tips for people during the crypto winter. According to the Saxo Bank founder, investors need to do their homework and carefully analyze which projects are really needed.

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In the Ethereum Community Conference 5, a developer spokesperson from 0x Labs said that the crypto winter is a chance to reinforce the validity of the blockchain. Despite the market’s current prices, 0x Labs staff believe that Ethereum (ETH) remains a safe platform to build upon.