On October 30, crypto researcher and former Adaptive Capital co-founder Murad Mahmudov stated in an interview with PondTalk with Blew that blockchain and Web3 have far fewer real-world applications than industry narratives suggest. However, he emphasized that blockchain holds disruptive advantages in three key areas: serving as an alternative base currency, reshaping the global payment system, and acting as a social redistribution point for wealth. Mahmudov noted that due to high on-chain costs and low efficiency, blockchain is best suited for high-value financial-grade applications. He argued that its most revolutionary impact is bypassing the 20th-century fiat financial structure, with other long-tail applications being largely ancillary.