According to an Emurgo executive, no blockchain can be a "lonely island."

According to an Emurgo executive, interoperability is the key to success for Blockchain networks.
Speaking to Cointelegraph's Arijit Sarkar during India Blockchain Week 2024, Amarpreet Singh, global head of business development at Emurgo, emphasized the need for stablecoins and networked blockchain systems to promote broad Web3 adoption.

Regardless of the route any blockchain may take, he said, it will anyway culminate in interoperability, which is what all users will require. He remarked:

"At Emurgo we are strongly of the view that it's all about interoperability that will be the end. And no blockchain can exist in isolation."

Singh explained that to access different layer-1 networks, blockchain users should not demand different wallets or exchanges for this purpose. Instead, he said, they will make a demand for seamless connections between those networks.

compatibility within the Cardano ecosystem

Singh emphasized that Emurgo puts a lot of value on interoperability, particularly in relation to the Cardano blockchain. According to the executive, Emurgo was charged with the responsibility of explaining how this ecosystem interacts with other ecosystems because Cardano is not an EVM chain, which is known for its interoperability capabilities.

In a blog post published in November, Emurgo listed the key benefits of interoperability. These include economic security, diverse asset and user bases, improved inter-blockchain communication, flexible payments, and improved liquidity.

According to Singh, one of the key mandates of Emurgo is interoperability, and the team worked with other businesses and organizations to achieve this objective.

Singh says that to achieve the above goal, Emurgo has partnered with BitcoinOS, the smart contract operating system, and Axelar, the interoperability platform for Web3.

Significance of stablecoins in mainstream adoption

In a discussion on the significance of stablecoins in Web3 adoption, Singh noted how they can attract mainstream users by eliminating the fear of volatility.

Singh said that once an asset class has matured, the adoption of the technology by the public will follow. According to the executive, however, this investment class "can't stomach volatility," and thus demand stablecoins.

"I'll say, 'Take me away from this,' if you offer me a sign that rises and falls," Singh said. "Stablecoin is therefore the best option.".

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