Olaf Carlson-Wee, the founder and CEO of Polychain Capital, believes COINBASE is undervalued. He aired his opinions while discussing the current state of the crypto market in a December 16 interview. According to him, public companies in the crypto space are undervalued relative to the immense growth potential of crypto.
Diving into deeper details of the rapidly expanding crypto space, Carlson-wee said the industry has attracted developers from traditional sectors, allowing them to build products in the crypto ecosystem. He added that financial rails are increasingly shifting to blockchain-based software systems.
Carlson-Wee added that the corporate world is also migrating to the blockchain to redefine legal contracts with pure software systems. According to him, this is a paradigm shift unlike anything the world has ever seen, and it comes with many investment opportunities. He believes these opportunities will culminate in the growth of crypto-based public equity markets and digital assets.
Thousands of crypto projects will thrive
Apart from public companies in the crypto space, the Polychain Capital founder believes private firms also have a shot at greatness.
While he did not mention any specific companies he believes might perform well as the crypto sector continues expanding, Carlson Wee said,
I think there will be thousands of successful projects out there. It’s really all about replacing these traditional financial rails, traditional marketplace models with software systems that are global and operate 24/7, 365.
He added that one of the perks of the crypto industry is that anybody can create crypto assets or technological platforms in web3 provided they have an internet connection.
Cryptos will disrupt multiple industries
Per Carlson-Wee, the world is in the midst of the most significant wealth transfer in modern human history as more people increasingly adopt crypto. He believes the crypto industry is already disrupting financial markets by making them open-source, transparent, and immutable. Giving an example of this change, he highlighted that the DeFi ecosystem already holds over $250 billion (?188.14 billion).
However, Carlson-Wee claims the financial markets are just the tip of the iceberg because cryptos and the blockchain will transform multiple industries. Specifically, he believes classic, web2 companies like Etsy, Uber, and eBay will either undergo significant changes or get replaced by blockchain-native software systems.
Confident that nothing can stop the crypto revolution, Carlson-wee said the space has already attracted over 100 million users globally, and this number is increasing rapidly. Explaining why the crypto space has had explosive growth this year, he said people are waking up to the fact that the world is transitioning to web3.
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