How Solana is bridging the gap between web3 and the physical world

Episode 72 of Season 4 of The Scoop was recorded remotely with The Block’s Frank Chaparro and Solana Labs Co-Founder and COO, Raj Gokal.

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Last week, Solana Spaces announced the opening of the “world’s first permanent physical retail, educational, and community space dedicated to Web3.”

In this episode of The Scoop, Solana Labs Co-Founder and COO Raj Gokal discusses his early impression of Solana Spaces, as well as the innovation and experimentation that is occurring across the Solana ecosystem at a “breakneck pace.”

As Gokal explains, some people who visit Solana Spaces’ first location in Manhattan are discovering that Web3 might not be as daunting as it seems:

“There’s hundreds of people coming through — just starting their first Phantom wallet, sending their first USDC, and learning, ‘okay, using crypto is like not that complicated.'”

In addition to the inroads Solana is making in the physical world, Solana is currently hosting a virtual hackathon called ‘Summer Camp’ — the largest Solana hackathon to date, according to Gokal: 

“The hackathon that’s going right now has almost 14,000 developers. This is the most participation from a hackathon that we’ve ever seen… and it’s now — in the depths of the bear market.”

Although the price of SOL has fallen approximately 85% since last November’s highs, the Solana Network has seen accelerated adoption over the same period, as data from The Block shows:

During this episode, Chaparro and Gokal also discuss:

• Solana’s unique fee market
• Crypto and digital health
• The upcoming Solana phone

This episode is brought to you by our sponsors Chainalysis & IWC Schaffhausen

About Chainalysis
Chainalysis is the leading blockchain data platform. We provide data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 60 countries. Backed by Accel, Addition, Benchmark, Coatue, Paradigm, Ribbit, and other leading firms in venture capital, Chainalysis builds trust in blockchains to promote more financial freedom with less risk. For more information, visit www.chainalysis.com.

About IWC Schaffhausen
IWC Schaffhausen is a Swiss luxury watch manufacturer based in Schaffhausen, Switzerland. Known for its unique engineering approach to watchmaking, IWC combines the best of human craftsmanship and creativity with cutting-edge technology and processes. With collections like the Portugieser and the Pilot’s Watches, the brand covers the whole spectrum from elegant timepieces to sports watches. For more information, visit IWC.com

© 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.