Canton Network founder Yuval Rooz told DL News in an interview that the cryptocurrency communities' stubborn adherence to their identity is hindering the adoption of blockchain by traditional financial institutions. He said, "The idea that blockchain is a technology to completely eliminate intermediaries is a very naive notion; its true purpose is to lower entry barriers in the financial sector. Design tailored to the needs of existing traditional financial institutions is inevitably necessary. Canton provides a function to delete past data to comply with European data protection laws, which, although it conflicts with the immutability principle of blockchain, was an essential process for institutional acceptance," he emphasized. He added, "In the future market, Real World Assets (RWA) will be key, and a fully permissionless system, as advocated by the community, will be difficult to adopt in a real world where regulatory compliance and identity verification are essential." Canton has previously faced criticism in the cryptocurrency industry for configuring its network to suit the preferences of traditional finance.
