RECAP: SOLANA BREAKPOINT DAY 1 KILLER INSIGHTS

🚀Top 40 Takeaways from Solana Breakpoint Day 1" 🔥🕺

This story will cover the 40 top insights from day 1 of the Solana Break Point Conference. This event is like no other and I watch a lot of crypto conferences.

I will cover some of Solana's breakthroughs alongside some mergers and acquisitions.

In addition, we will examine how Solana is building the true finance chain, which has always been Solana's vision. I will touch on the asset managers coming on board, the financial players, the top banks, and a ton of Jupiter news.

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The first big idea I got from this event is that Solana is the financial institution blockchain, not ETH.

Many people believe Solana is just for meme coins but that is untrue. Two of the world's top 20 asset managers announced plans to build on Solana. Citibank, in addition, has been researching Solana deeply and will launch something in the coming months. Societe Generale announced the first bank-like stablecoin on Solana, which is Euro-denominated. Franklin Templeton announced they are building a new mutual fund coming to Solana.

Then, there is a securitization announcement with Wormhole. This is all about real-world assets and the tokenization of everything. This also apparently supports the issuer for BlackRock's Biddle money fund. Other players were discussed, including PayPal, Visa, Circle, Hamilton Lane and much more.

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Solana is now becoming the enterprise blockchain and one of the key factors for this is permissioned tokens.

These tokens have restrictions that can hold, transfer, or interact with them. This is very useful for regulatory compliance, privacy, enterprise, and business corporate-specific rules.

This permissionless network is decentralized and open. However, it does not have everything that institutions need to be compliant. Solana now seeks to work with larger institutions - which is huge!

With these token extensions, Solana can now also support very complex functionality.

These advanced features can support very complex business processes and regulatory needs across all financial services. In addition, it is very secure and scalable.

Finality and transaction speed are key in financial services, especially if you run stock exchanges.

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Franklin Templeton - the $1.3 trillion asset manager - will launch a mutual fund for Solana.

This is big news!

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This describes where the bulk of transactions are for most of the world. The majority of transactions are small transfers and payments under $100.

The head of Visa Crypto said Ethereum is not cost-effective, especially for transactions under $100.

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Then, PayPal came in and said Ethereum is not the best solution for payments.

PayPal now wants to do a lot more and handle a lot more transactions per second, which is only possible with Solana.

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There are many deep concerns out there in the world about hackers and privacy and security.

Archeum HQ plans to build a global supercomputer that will enable the secure processing of encrypted data for confidential applications and collaborative AI models built on Solana.

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Avichal is pro-ETH and Santiago is pro-SOL and they held a joint session.

I thought the format of their discussion and the way each approached things were interesting.

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Avichal is a co-founder and managing director of Electric Capital, which has really good dev reports on crypto.

• Ethereum has the most developers.

• Ethereum sometimes has 500,000 to 1 million daily active users.

• Ethereum also has the JP Morgan hard fork, which built their own version of Ethereum.

Santiago's approach to the strengths of Solana:

• The killer use cases of the shared state machine and its uniqueness in transacting finance.

• The enjoyment that most users have with the Solana combined with the ample block space. This is why most people are going to Solana.

• He stated that you need base levels of decentralization and high levels of security, but the most important thing is throughput, which increases speed and reduces cost.

• He also discussed the Lindy Effect for developers building hundreds of L2s or their future-proof L1.

• Good wallets are core to adoption and if you have used Metamask, you know exactly how painful that is.

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For me, this is probably