Ava Labs CEO John Wu Says Big Name Brands and Companies To Enter Avalanche (AVAX) Ecosystem in Next 12 Months

Senior tech company executives behind Avalanche (AVAX) say big things are right there for Ethereum (ETH) challengers.

In a new interview with Anthony Pompliano, Ava Labs President John Wu To tell Mainstream names from the financial and gaming world join the avalanche ecosystem.

“”I wish I could give you a specific name, but I’m really excited about the traditional companies of certain big brands that are going to do some cool things in the avalanche.

Entering this ecosystem and growing it for everyone, both on the financial services side and on the gaming side, is the same theme of real-world assets.

Subnets are actually adopted by many gamers to create their own execution environment in a very fast way, so there is also a lot of visibility into the game.

These are two areas where we are very excited [about].. I wish I could give it a specific name, but please wait a moment for the audience … they will hear about it soon. “

When it comes to traditional finance, Wu says the system is currently stalled due to lack of efficiency and interoperability between databases.

“Financial institutions are very aware that the power of blockchain, the cryptosystem, is a very powerful tool for when information and money need to be moved at the same time.

There are numerous intermediaries when you settle stocks. There are many credit cards and intermediaries. And they all work on their own database and need to make a lot of tweaks. “

Wu believes that blockchain technology will benefit financial companies by simplifying the process, such as removing links within the transaction settlement chain.

“Many financial services players are actually experimenting with blockchain. The amount of experimentation in blockchain development the amount of experimentation, innovation labs, as well as the amount of development … They are looking at technology as a way to increase efficiency, increase productivity and reduce costs. “

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