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Wednesday, December 6, 2023

The best blockchain ‘doesn’t exist’ – Cardano Foundation exec


While many community members like to debate what the ultimate blockchain will be, a Cardano Foundation executive believes that these debates should stop as use cases determine which blockchain is best for a particular project.

At the World Token Summit in Dubai, Cointelegraph interviewed Mel McCann, Vice President of Engineering at the Cardano Foundation. The executive touched on a variety of topics, including enterprise adoption and the need to stop arguing about what blockchain is best for.

Cardano Foundation’s Mel McCann (left) with Cointelegraph reporter Ezra Reguerra at the World Token Summit in Dubai. Source: Cointelegraph

McCann said blockchain offers many potential benefits in terms of tracking the history of anything. “You can use blockchain in a number of different ways to prove origin, provenance and all those things,” he said. There are a number of ways companies can leverage blockchain for different purposes.

However, McCann said that doesn’t mean companies need to overhaul their business models to adapt. One of the things he’s interested in, the executive explained, is identifying areas that might help businesses “enhance” what they’re already doing. He said:

“We’re not trying to change people’s business models. What we’re trying to do is: How can they use Web3 capabilities to better improve their business models?”

The executive also told Cointelegraph how education can play a role in businesses getting onboard with Cardano and Web3. “We’re really investing a lot of time in education, like direct education with businesses, not just the mass education platform that we’re building,” McCann noted.

related: SEBA Bank exec: Rising institutional interest is ‘bullish’ sign for cryptocurrencies

When asked to compare the pros and cons of various blockchain platforms, McCann said each has different use cases. The executive also stated that there is no such thing as an ultimate blockchain. He said:

“I think one of the things that people need to stop doing is ‘what’s the ultimate blockchain?’ You know, ‘what’s the best blockchain?’ ’ And, it’s not in my head because it really depends on the situation.”

According to McCann, only those building businesses can evaluate which blockchain is best for their business. According to the executive, there are different benefits to using different blockchains. “I would never turn around and say, yes, this is a one-stop shop. That’s not how it works,” he explained.

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