Someone might initially come for a yield incentive, for example, then use the same assets to trade or spend, he said.

“Show me adoption”

Kevin O’Leary, the Shark Tank investor and chairman of O’Leary Ventures, sees a similar problem playing out among the blockchains themselves.

Speaking at the Avalanche Summit in New York last month, O’Leary said networks looking for institutional business need to show that companies are actually using them.

“The challenge you have is ‘show me, show me adoption,’” O’Leary said.

“The merits of that chain are well understood for those technologists and S&P 500 companies that understand why that’s important in building capacity and not being concerned about transaction volume,” he said. “I get it,…