I often discuss with my friends about the utility of blockchains -- if it takes lesser time and zero-cost to send $1 to someone via India's UPI network than Ethereum - more people will flock towards the former. That's how much speed and user experience impacts payments/finance in general.
In many ways, Solana is similar to Jio that democratised India's digital economy by practically reducing the cost of data to zero - thereby getting more people onboard, which in turn led to more apps that did everything from food delivery, cab hailing, payments, dating.
The core ingredients to make an amazing ecosystem is already there - speed, UX, low-cost, and most importantly community that has supported the ecosystem through thick and thin, something enviable for EVM counterparts.
What ensued Jio was India's budding consumer-tech ecosystem - Solana will need to follow the same trajectory since finance in general doesn't hold attention/time spend that a gaming/social media platform will have.
The potentials from the possibility of Micropayment via - yes, via, not on - Solana is unprecedented.
Think of something like Wechat Pay. In China nowadays, you can buy anything from anybody, even an old lady selling tomatoes being picked from her field 30 minutes ago. And she doesn't have any machine for cards. 3.7 RMB? No problemo. Scan the QR code and it's done!
I envision this happening with the help of Solana in the next 12-18 months.
I often discuss with my friends about the utility of blockchains -- if it takes lesser time and zero-cost to send $1 to someone via India's UPI network than Ethereum - more people will flock towards the former. That's how much speed and user experience impacts payments/finance in general.
In many ways, Solana is similar to Jio that democratised India's digital economy by practically reducing the cost of data to zero - thereby getting more people onboard, which in turn led to more apps that did everything from food delivery, cab hailing, payments, dating.
The core ingredients to make an amazing ecosystem is already there - speed, UX, low-cost, and most importantly community that has supported the ecosystem through thick and thin, something enviable for EVM counterparts.
What ensued Jio was India's budding consumer-tech ecosystem - Solana will need to follow the same trajectory since finance in general doesn't hold attention/time spend that a gaming/social media platform will have.
great piece as always, Joel and team! 🫡
this was a really long article, was able to complete in 3 sittings, there was so much in this article,
awesome work, loved reading this
Best, thanks!
Excellent article on the Solana ecosystem. I'm glad I found it.
I haven't looked into Helium in years, and that's the next site I plan to visit.
Brilliant piece! Thank you for putting the technical bits first :)
The potentials from the possibility of Micropayment via - yes, via, not on - Solana is unprecedented.
Think of something like Wechat Pay. In China nowadays, you can buy anything from anybody, even an old lady selling tomatoes being picked from her field 30 minutes ago. And she doesn't have any machine for cards. 3.7 RMB? No problemo. Scan the QR code and it's done!
I envision this happening with the help of Solana in the next 12-18 months.