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Blockchain's financial utility is 'undeniable': Adam Dell

In this article:
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Venture capitalist and Domain Money CEO Adam Dell joins 'Influencers with Andy Serwer' to discuss blockchain technology and volatility on Wall Street.

Video Transcript

ANDY SERWER: I've got to ask you about the crazy markets this year, both in crypto and in equities. What the heck is going on?

ADAM DELL: Well, market volatility is one of the things that is inherent in our market, right? Whenever you have such a large inflow of capital into a discrete number of assets, you're going to have significant swings.

As Warren Buffett likes to say, the market is a voting machine in the short term and a weighing machine in long term. And as I look at the long-term trends, some of the free cash flows sources that are being spit out of some of the larger tech names, I'm quite bullish on their prospects going forward.

And as it relates to cryptocurrencies, where we're focused, I look at the fundamental underlying components of blockchain technologies and their contribution to our financial markets less from a speculative standpoint and more from a core market function, a core financial function.

If you look at, say, example-- say, for example, Visa, Visa moved about $10 trillion worth of transaction volume around the planet last year. Last year, Ethereum alone moved $11 trillion. And so that just gives you a sense of the scale of the impact of these technologies and what impact they will have on our broader economy.

Let me give you another example, money markets. A few years ago, the number of dollars involved in DeFi Money market protocols was less than a billion. That's a 2018 stat. This year, it's over $200 billion. And so the growth of the financial utility of these underlying technologies is undeniable. And as they become more widely adopted in commercial use cases, again, unrelated to speculation, I think you're going to see a significant growth in real revenue and real cash flow coming out of these technologies.