Ava Labs CEO Emin Gün Sirer holds the belief that the general public is completely oblivious to the technological advancements of cryptocurrency and blockchain. In a recent interview with Real Vision, the CEO of Avalanche (AVAX) development firm expressed his view that the entire crypto space is severely undervalued.

According to Gün Sirer, the technologies used in cryptocurrency and blockchain far surpass those utilized in the traditional financial system. He stated, “The space is too vast, and the capabilities it brings, the novel possibilities it presents, are simply too valuable. If anyone has experience on Wall Street with their accounting, reconciliation, and automated services, they would see that what we can achieve in crypto is light-years ahead. Look at their complex systems, layers upon layers. They are still relying on COBOL programmers to maintain their systems. In contrast, systems like Avalanche or Ethereum are significantly more advanced.”

Gün Sirer further pointed out that the general public lacks awareness of how crypto and blockchain are revolutionizing finance. He mentioned that they are unaware of the immense benefits a smart contract chain can offer or the simplicity of using a lending platform. The efficiencies brought by flash loans and the democratizing nature of the space are also not grasped by the masses.

In Gün Sirer’s opinion, the current valuation of the crypto space falls far short of its actual worth. He believes that it should be valued anywhere from 10 to 100 times more than its present market value. He emphasized, “Society is lagging behind in recognizing the value proposition these new systems provide. It’s not just about memes and speculation. There is something fundamentally different about the way we build services… People have yet to fully comprehend that crypto is here to stay and that it’s far superior. The entire space is undervalued by at least one or two zeroes. We are far from reaching our potential if people truly understood the impact this space could have on society.”

It is evident that Gün Sirer’s passionate conviction lies in the untapped potential of crypto and blockchain. He urges society to recognize the transformative power of these technologies and the immense value they can bring.