Cardano's real competition is not who you'd expect, says new Cardano Foundation CEO

Published on by Cointele | Published on

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Frederik Gregaard, the incoming CEO of the Cardano Foundation, shared his perspective on FinTech's competitive landscape and major technology trends with Cointelegraph.

"I think the biggest competitor, it's really the largest technology companies today around, the large tech platforms such as Google, Amazon, Tencent, Alibaba, those kind of players".

Gregaard believes that social media-based big technology providers have morphed from supplying their customers with meaningful tools to essentially owning and manipulating their users.

He went so far as to call them "An addictive, mental, manipulative technology environment - that is where social media is. It's not just a tool waiting to be used, it has its own goals."

In Gregaard's view, blockchain technology allows for the construction of a society where an individual does not need to trade their digital sovereignty for the services provided by technology companies.

In addition to "Liberating" individuals from tech giants, Gregaard feels that the mass adoption of blockchain technology may help bring the people of the world closer together.

Gregaard believes that the real danger is not that one of these platforms will lose to a competitor.

"I think the market is super-big. And if we start fighting about it, one or two companies, which technology stack are they choosing to do that DApps on? I think we are missing the boat. We need to start looking much like the whole population and the whole economic system: how do we build that?".

Gregaard admitted that odds may be stacked against decentralized disruptors.

Still, Gregaard believes that the technology Cardano is building is powerful enough to stand a fighting chance.

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