Episode 60 of Season 4 of The Scoop was recorded live at The Block headquarters in New York with The Block’s Frank Chaparro and Anatoly Yakovenko, co-founder and CEO of Solana Labs.
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Many Web3 platforms require users to connect their crypto wallets before engaging with the platform in any meaningful way.
Consequently, the Web3 experience on mobile devices is tedious at best, given current devices are not designed with such functionalities in mind.
Solana Mobile — a subsidiary of the development team behind Solana — hopes to address the difficulties that surround the Web3 mobile user experience with its new Android phone called ‘Saga,’ which is slated for release in early 2023.
Last week, Solana Labs co-founder and CEO Anatoly Yakovenko announced the new mobile device, which will run a ‘Solana Mobile Stack’ (SMS) operating system and will feature a marketplace for decentralized Web3 applications.
In this episode of The Scoop, Anatoly Yakovenko said he believes Saga’s early success will be linked to its ability to significantly enhance the mobile crypto user experience:
“The theory is that crypto users might be crazy enough to switch from iOS to Android because of crypto. It might be so important to have that experience, that they’re willing to change their habits.”
If Solana Mobile is successfully able to prove there is consumer demand for crypto-forward mobile products, Yakovenko believes it will inspire major tech companies to integrate crypto infrastructure into their own mobile devices moving forward:
“You need Google and Apple to do it, but they’re not going to do it until there is proven demand that people need it — and so somebody has to kind of make that leap…”
During this episode, Chaparro and Yakovenko also discuss:
- Yakovenko’s background working for Qualcomm
- The $10 million fund to bring developers to SMS
- How the ‘Saga Pass’ NFT will allow early adopters to guide development
This episode is brought to you by our sponsors Fireblocks, Coinbase Prime & Cross River
Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks enables exchanges, lending desks, custodians, banks, trading desks, and hedge funds to securely scale digital asset operations through the Fireblocks Network and MPC-based Wallet Infrastructure. Fireblocks serves over 725 financial institutions, has secured the transfer of over $1.5 trillion in digital assets, and has a unique insurance policy that covers assets in storage & transit. For more information, please visit www.fireblocks.com.
About Coinbase Prime
Coinbase Prime is an integrated solution that provides institutional investors with an advanced trading platform, secure custody, and prime services to manage all their crypto assets in one place. Coinbase Prime fully integrates crypto trading and custody on a single platform, and gives clients the best all-in pricing in their network using their proprietary Smart Order Router and algorithmic execution. For more information, visit www.coinbase.com/prime.
About Cross River
Cross River is powering today’s most innovative crypto companies, with banking and payments solutions you can rely on, including fiat on/off ramp solutions. Whether you are a crypto exchange, NFT marketplace, or wallet, Cross River’s API-based, all-in-one platform enables banking as a service, ACH & wire transfers, push-to-card disbursements, real-time payments, and virtual accounts and subledgers. Request your fiat on/off ramp solution now at crossriver.com/crypto.
© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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