Building Blockchain Technology for Everyone with Algorand Foundation’s Sean Lee

We’re excited to announce a new fireside series, Between Two Blockchains! This new video series spotlights the industry’s leading blockchain leaders and explores how this technology is changing the way we live, work and play. In each quarterly episode, a special guest joins AIKON CEO Marc Blinder to discuss the unique ways blockchain is impacting the world.

In our inaugural episode, Marc chats with Algorand Foundation CEO Sean Lee, who discusses the evolving trends in non-fungible tokens (NFTs) and the steps needed to enable mass blockchain adoption.

Blockchain technology has spawned a wide range of DeFi applications from lending, borrowing, trading and more, to make DeFi one of the most successful use cases of the technology. Yet, in the last year, the rise in popularity of NFTs is spurring a frenzy of new use cases. Though Sean sees the power of NFTs from a different lens than simply the digital art craze of today. 

“The reality is that NFTs can represent many different things. We’re working with partners that aren’t digital art. One example is an Italian art collection and copyright agency, founded in 1882. Another is a cattle farmer in Latin America building an NFT platform on Algorand that is tracing the life cycle of cattle,” explains Sean. 

He continues, “We love these use cases because it broadens the notion of what NFTs can represent and the power and the potential that it can bring.”

What’s needed to encourage mass blockchain adoption though is for the blockchain applications to mature and for the technology to be better understood across the board by developers, businesses, consumers and regulators. 

“Adoption takes time. There are two sides that need to come together. The technological adoption and the adoption of digital assets in the market. Both of these items combined will get us to the point of mass blockchain adoption, but it will take time for applications to go from smaller use cases into a large user base. But after a while, no one will really think about this anymore — because the technology and use cases will be second nature,” says Sean. 

“As an example, if you think about Cloud Computing, no one really cares whether it’s public cloud, private cloud or hybrid cloud. And no one asks those questions anymore. The technology is just there, easy to use and everyone is consuming those services. Blockchain isn’t there yet, but in time it will get to that point — and that’s really where it takes companies like the Algorand Foundation and companies like AIKON working together to make others see the usability and the need,” explains Sean.

AIKON and the Algorand Foundation partnered over a year ago with the overarching goal of removing the complexities associated with blockchain technology to ensure it can be used by everyone, everywhere. 

By delivering intuitive, secure, real-world blockchain solutions like AIKON’s single sign-on solution ORE ID and the enterprise-grade digital asset wallet ORE Vault that works cross-chain with the Algorand Blockchain, AIKON — together with the Algorand Foundation — is paving the way for faster blockchain adoption.

If you’re interested in AIKON’s solutions or learning more about what we’re making possible, contact us today.

About AIKON: 

Blockchain and crypto are technologically complex. AIKON makes it simple. We’ve built a suite of intuitive products and services for enterprise companies looking to provide a seamless user experience that works cross-chain with Algorand, Ethereum, EOS and more. 

About the Algorand Foundation: 

The Algorand Foundation is dedicated to fulfilling the global promise of blockchain technology by leveraging the Algorand protocol and open-source software, which was initially designed by Silvio Micali and a team of leading scientists. With core beliefs in the establishment of an open, public, and permissionless blockchain, the Algorand Foundation has a vision for an inclusive ecosystem that provides an opportunity for everyone to harness the potential of an equitable and truly borderless economy. 

Important Notice: ORE users will need to bridge tokens to Ethereum over the pNetwork bridge by December 21, 2023