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ETH ARK Invest research director refutes a16z encryption argument: Public blockchain has surpassed private chain
ARK Invest research director recently refutes a16z encryption's venture capital argument. The latter believes that traditional finance will adopt blockchain technology based on permission-based infrastructure rather than decentralized finance (DeFi).
Lorenzo Valente pointed out in a platform X post on Wednesday that the performance of public blockchain has surpassed that of private blockchain projects, citing the growth of tokenized assets on Ethereum and other open networks as an example.
He also added that crypto-native companies like Circle and Coinbase, rather than traditional financial institutions, are best positioned to build next-generation financial infrastructure.
The day before, a16z Crypto issued a document stating that traditional financial institutions did not accept DeFi, but selectively adopted blockchain technology that met existing compliance, governance and operational requirements.
The venture capital firm posted on the X platform that banks and asset management companies will build "programmable financial infrastructure" that draws on blockchain primitives such as tokenization and atomic settlement, while maintaining licensing and institutional control.
Sentora co-founder Jesus Rodriguez also disputed a16z's arguments, saying that organizations may adopt DeFi's underlying infrastructure while stacking compliance, custody and other enterprise-level controls on top of it.
