Solana As A City? Ft. Lily Liu, President of Solana Foundation
In the latest episode of The VALR Podcast, Farzam Ehsani, Co-Founder and CEO of VALR, welcomed Lily Liu, President of the Solana Foundation. Their conversation covered Liu's journey into crypto, her role at the Solana Foundation, and the broader implications of blockchain technology.
A Long-Standing Professional Relationship
Farzam and Lily’s professional relationship dates back to their pre-crypto days in the late 2000s. This familiarity added a unique depth to their discussion, reflecting their shared experiences and mutual respect.
Lily Liu's Path to Crypto
Lily Liu's interest in crypto was sparked by her study of modern Chinese history and its economic transformations. Her diverse career includes roles in investment banking, consulting at McKinsey, and private equity. Introduced to Bitcoin in 2013 by Bobby Lee, Lily was intrigued by its ideological promise of separating state and money, which resonated with her views on economic sovereignty.
From Earn.com to Solana
Before joining the Solana Foundation, Liu co-founded Earn.com, which transitioned from a Bitcoin mining company to a consumer app focused on micro-payments. This experience highlighted the potential of digital assets to revolutionize financial systems.
The Solana Foundation's Mission
As President of the Solana Foundation, Lily Liu oversees the growth and development of the Solana ecosystem. The Foundation aims to support the technology and community, acting as a steward and public servant. Liu likens the Foundation to a city's mayor's office, fostering a vibrant, inclusive community.
Addressing Decentralisation Concerns
Liu addressed criticisms regarding Solana's decentralization by discussing the network's Nakamoto coefficient and its numerous active nodes. She emphasized the importance of balancing performance and decentralization, advocating for a user-friendly experience while maintaining robust validator operations.
Innovations: Solana Actions and Blinks
Lily introduced Solana Actions and Blinks, innovations designed to integrate blockchain transactions into everyday internet use. These tools reduce friction, making crypto more accessible and practical beyond trading environments. By enabling actions such as payments, voting, and participation in prediction markets through simple links, Solana enhances the utility of blockchain technology.
Future Prospects: Solana and Crypto
Looking ahead, Lily shared her vision for crypto's future, underscoring the significance of self-custody, programmable money, and open financial systems. She sees Solana playing a pivotal role in making financial systems more accessible and equitable, transforming global markets. While acknowledging the potential for various blockchain ecosystems to coexist, she remains optimistic about Solana’s unique strengths in performance and usability.
Conclusion
The episode concluded with reflections on Farzam and Lily’s long-standing friendship and their shared commitment to leveraging crypto for humanity's benefit. This podcast offered a thorough overview of Solana's initiatives and provided valuable insights into the transformative potential of blockchain technology.
