The Solana blockchain is opening an embassy in New York City. It’s not like a United Nations embassy with ambassadors and diplomats and flags, but a storefront that seemingly doesn’t plan to sell much of anything, DanielGKuhn writes.
The Solana blockchain is opening an embassy in New York City. Not like a United Nations embassy with ambassadors and diplomats and flags, but a storefront that seemingly doesn’t plan to sell much of anything.
There’s incredibly bright track lighting, white walls, white benches, a white ceiling. Every angle is clean and every curve soft. “All the stuff that is magical about crypto … all depends on self custody,” Yakovenko said in an interview on CoinDesk TV’s “First Mover” program. But there’s a major catch. The “user experience around self custody is horrible,” he said. He’s right.
Solana, invented as an Ethereum killer, is still trailing that blockchain by most metrics. It has fewer node operators, fewer holders, a smaller market cap. And so if it hasn’t differentiated itself on software maybe it can with hardware and a physical footprint. Although there’s a difference between the entity building Solana and the network itself, I’m curious what Gary Gensler, top cop at the U.S. Securities and Exchange Commission, would say about the “expected profit” from the “common effort” of building and marketing phones and a retail footprint.
Payments were bitcoin’s first failed use case. Beyond the tech that made transactions slow and expensive, few people wanted to pay capital gains as well as sales tax. There have been improvements to the tech and the law can change. Maybe micropayments will catch on. People today do use Lightning and Phantom, and perhaps it’d be nice to have the option – but Apple Pay works fine.
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