Amber Baldet, former CEO of JP Morgan, said that decentralized applications should be easy to use, and users do not need to know about the underlying technology.
According to Amber Baldet, users do not need to know exactly how the application works. For them, the ease of use and the functions provided by the application are important, not the blockchain on which it was created.
Baldet stressed that many cryptocurrency enthusiasts believe that the blockchain technology was created solely to support digital currencies. However, such thoughts lead to slower progress, because the distributed registry technology can be applied in various fields.
"Companies are hoovering up data at an increasing pace. Many of them have decided that in order to run machine learning programs, more data is always better, but these data lakes create a lot of technical risk for them. And now that technical risk is creating legal, regulatory and monetary risk as well."she said.
"It's also becoming [more challenging] for smaller companies to compete with larger companies within their industry vertical. Increasingly, juggernauts like Google are amassing so much industry specific data that they can credibly compete with the best-in-class in every industry. Companies are realizing that they're going to need to collaborate in order to derive the business insights that help them compete,"
Baldet, who is also a co-founder of the Clovyr startup, said that she is currently working on a solution that will provide developers with an easier way to create applications on the Ethereum blockchain.
"Ethereum is still so new that delivering high-level abstractions requires a lot of inventing the universe first,"said former top manager JP Morgan.
Note that while working at JP Morgan, Baldet took part in the launch of the blockchain platform Quorum.