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Oasis Pro CEO Pat LaVecchia's Advice to Execs: Consider Blockchain's Potential Separate From Crypto
In this video podcast interview recorded during the Institutional Digital Assets Forum event in Boston on December 4th, 2023, Blockchain Journal editor-in-chief David Berlind and Oasis Pro CEO Pat LaVecchia discuss the challenges enterprise executives face when it comes to understanding and implementing blockchain technology. LaVecchia talks about how CxOs will often inextricably conflate cryptocurrency with blockchain in a way that often belies the unique value proposition of blockchain as a platform (beyond the most well-known application; cryptocurrency-based transfer of value).
LaVecchia emphasizes that while crypto relies on blockchain, blockchain is a separate technology with various other use cases that can be transformative to organizations. He notes that large enterprises often invest millions in blockchain without much success, and the negative headlines surrounding crypto further complicate the understanding of blockchain at the C-suite level.
LaVecchia also explains how distributed ledger technologies have applications in trade, finance, stock trades, royalty streams, and the provenance of luxury goods. He distinguishes between blockchain and crypto, stating that while crypto could be a commodity, utility, or security, it, like other applications relies on blockchain to function.
On the payments front, the interview delves into the potential benefits of blockchain over traditional finance (TradFi) such as dramatic cost reduction, 24/7 access, and dramatically improved settlement times (particularly in cross-border remittance and trading environments). LaVecchia acknowledges some of the challenges when it comes to integrating blockchain into existing financial workflows but anticipates blockchain adoption will skyrocket once organizations begin to recognize the potential for cost savings over legacy mainframe approaches that are still in place today.
To watch the video version of this podcast or read its full-text transcript, go to:
https://blockchainjournal.com/interview/oasis-pro-ceo-pat-lavecchias-advice-execs-consider-blockchains-potential-separate-crypto
The video can also be watched on Blockchain Journal's YouTube Channel at https://www.youtube.com/watch?v=LVIAl_lfwzI
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By Blockchain JournalIn this video podcast interview recorded during the Institutional Digital Assets Forum event in Boston on December 4th, 2023, Blockchain Journal editor-in-chief David Berlind and Oasis Pro CEO Pat LaVecchia discuss the challenges enterprise executives face when it comes to understanding and implementing blockchain technology. LaVecchia talks about how CxOs will often inextricably conflate cryptocurrency with blockchain in a way that often belies the unique value proposition of blockchain as a platform (beyond the most well-known application; cryptocurrency-based transfer of value).
LaVecchia emphasizes that while crypto relies on blockchain, blockchain is a separate technology with various other use cases that can be transformative to organizations. He notes that large enterprises often invest millions in blockchain without much success, and the negative headlines surrounding crypto further complicate the understanding of blockchain at the C-suite level.
LaVecchia also explains how distributed ledger technologies have applications in trade, finance, stock trades, royalty streams, and the provenance of luxury goods. He distinguishes between blockchain and crypto, stating that while crypto could be a commodity, utility, or security, it, like other applications relies on blockchain to function.
On the payments front, the interview delves into the potential benefits of blockchain over traditional finance (TradFi) such as dramatic cost reduction, 24/7 access, and dramatically improved settlement times (particularly in cross-border remittance and trading environments). LaVecchia acknowledges some of the challenges when it comes to integrating blockchain into existing financial workflows but anticipates blockchain adoption will skyrocket once organizations begin to recognize the potential for cost savings over legacy mainframe approaches that are still in place today.
To watch the video version of this podcast or read its full-text transcript, go to:
https://blockchainjournal.com/interview/oasis-pro-ceo-pat-lavecchias-advice-execs-consider-blockchains-potential-separate-crypto
The video can also be watched on Blockchain Journal's YouTube Channel at https://www.youtube.com/watch?v=LVIAl_lfwzI