Blockchain is struggling to hold on to its original purpose: Aztec CEO
Blockchain can still serve its purpose while catering to institutional finance needs through privacy technology, says Aztec Labs’ Zac Williamson.
Blockchain is being pulled between traditional finance and its decentralized ethos as the industry shifts to serve institutional products.
Zac Williamson, CEO of Aztec Labs, said early decentralized governance failures shifted blockchain’s trajectory away from community coordination.
“There is a real risk that blockchain just becomes a slightly more efficient settlement layer than Visa or Mastercard,” he told Cointelegraph. “If we lose the social coordination side of this, then the entire point of the technology gets hollowed out.”
