Tools needed to support enterprise-scale activity on networks like Solana are already in place: “Especially on networks like Solana and other fast networks, the infrastructure is there today for high amounts of institutional adoption.”While crypto community members may feel like institutional adoption should be bigger than it is, Federa said that these organizations are not quick at onboarding new technologies. “Institutions are coming on board, but they just move really slow,” Federa told Cointelegraph.“People expect these massive institutions to move fast, but that’s just not what they’re good at.” Until legal departments are fully satisfied with risk controls and compliance structures, Federa said meaningful adoption may unfold gradually. Related: DoubleZero’s alternative to public internet targets mainnet rollout in H2Institutional involvement in crypto infrastructureFedera also highlighted a growing trend of institutional involvement in the crypto infrastructure space.
While blockchain infrastructure may be ready for institutional use, many legal teams at large firms remain cautious about full integration with the technology. At the Token2049 event in Dubai, DoubleZero Labs founder and former Solana head of strategy Austin Federa told Cointelegraph that today's high-performance blockchains like Solana are technically capable of supporting large-scale institutional usage.
However, lawyers still need to catch up. “Most blockchains nowadays, especially things like Solana, are fast enough for institutions to use them,” Federa said.“It’s really more about the institutions and the institution’s lawyers getting comfortable with crypto.”Federa added that institutional lawyers and compliance teams are still addressing regulatory concerns.
or
Share This Story
Article Details
Author / Journalist: Cointelegraph by Ezra Reguerra
The story "Blockchains ready for institutions, lawyers hesitate: DoubleZero CEO" has 431 words across 17 sentences, which will take approximately 2 - 4 minutes for the average person to read.
Which news outlet covered this story?
The story "Blockchains ready for institutions, lawyers hesitate: DoubleZero CEO" was covered 13 hours ago by Coin Telegraph, a news publisher based in United States.
How trustworthy is 'Coin Telegraph' news outlet?
Coin Telegraph is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United States and publishes an average of 33 news stories per day.
It's most recent story was published 8 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
