Blockchain Has the Biggest Potential since the Internet — Saxo Bank Founder
Saxo Bank founder Lars Seier Christensen believes in the immense potential of blockchain. He told Cointelegraph that in the coming years, new business models will be invented because of blockchain. As the crypto winter continues, while the cryptocurrency prices are calm and investor interests remain low, blockchain’s potential to transform and disrupt industries keeps attracting those eager to build and earn regardless of the prices of digital assets.
Lars Seier Christensen, founder of investment banking firm Saxo Bank, shared his own impression of the blockchain technology and revealed a piece of his motivation to turn to crypto markets. According to him, it were blockchain’s inherent features that made him decide to jump into the space and run a blockchain project called Concordium.
“I am fascinated with 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,” — Lars Seier Christensen, founder of Saxo Bank.
Christensen said that through technological progress, new business models will be invented in the near future. However, the executive believes that the investment scene in crypto is very immature compared to traditional finance. This means that there are — and there will be — many projects that will not succeed. Despite this, there will be some startups who will rise from the fog.
“The projects that consist of hot air and hype will fail, but out of the dust will arise great projects and companies for the future economy. So, it is a healthy shake-out that will focus investors on tech and science quality much more in the coming years,” — Lars Seier Christensen, founder of Saxo Bank.
Christensen also shared his memories of the early days of the internet in the view of investment. An early internet adopter himself, with Saxo Bank, he mentioned that there was “a lot of nonsense” back in the day, similar to the current state of the crypto industry. Despite this, the executive puts his faith in the technology. He believes that blockchain has the biggest transformative potential of any new technology since the internet.
When asked if he has some advice for those coming from a traditional finance background and are interested in investing in blockchain and crypto, the executive said that they should have the persistence and guts to be part of the developing space. Apart from this, he also shared his view of the current situation and provided some recommendations for investors during the crypto winter. According to the Saxo Bank founder, investors must do their homework and carefully analyse which projects are really needed and have the potential.