Cardano’s true rival is not who you think you are,‘ says new CEO of Cardano Foundation

Tip: not a blockchain company

Frederik Gregaard, the new CEO of the Cardano Foundation, spoke about his perspective on fintech’s competitive landscape and key technology trends with the Cointelegraph.

On the sector’s competition, Gregaard said that the protocol’s biggest rivals do not come from within the blockchain space:

„I think the biggest competitors are really the biggest technology companies today, the big technology platforms like Google, Amazon, Tencent, Alibaba, those kinds of players“.

Gregaard says he believes that the major technology providers based on social media no longer provide their customers with significant tools to essentially own and manipulate their users. He even called them „an addictive, mental and manipulative technological environment – where social media is. It is not just a tool waiting to be used, it has its own goals“.

He further stated that decentralized technologies represent the opposite, with the blockchain allowing users to regain control of their data and identity:

„Today you don’t really feel what’s really happening on the Internet. But all you do is monetize. And what’s being populated in front of you is now moving you slowly in a certain direction. And I think when society discovers that nothing in this world is free, they suddenly end up with the blockchain. „

In Gregaard’s view, blockchain technology Crypto Comeback Pro allows the construction of a society where an individual does not need to exchange control of his digital identity for services provided by technology companies. In addition to „freeing“ individuals from the giants of technology, Gregaard believes that the mass adoption of blockchain technology can help bring people closer to the world.

He argued that to stimulate this level of change, key blockchain protocols like Cardano (ADA), Algorand and Tezos (XTZ) should put aside their differences and work together. Gregaard believes that the real danger is not that one of these platforms will lose to a competitor. It is that the blockchain space as a whole does not reach mass adoption:

„I think the market is super big. And if we start fighting over it, one or two companies, on which pile of technology are they choosing to make those DApps? I think we’re missing the boat. We need to start looking like the whole population and the whole economic system: how are we going to build this? ”

Gregaard admitted that the odds could be stacked against decentralised disruptors. The technology giants have trillions of dollars at their disposal and he said „there’s a big chance we won’t get there. Still, Gregaard believes that the technology Cardano is building is powerful enough to have a fighting chance.