The Money Movement / Episode 20

Episode 20

Scaling On Chain Financial Apps

Summary & Key Takeaways

Algorand came on the scene in 2017 with the promise of a blockchain that would bring radical improvements to the scale and speed of blockchain transactions. The Algorand team has delivered in a big way with blockchain infrastructure that can scale to billions of users, tens of millions of daily transactions, all with negligible transaction fees. And, unlike first-generation blockchains, Algorand’s platform was designed from the ground up to address the unique requirements of global payment applications and financial networks. These are critically important attributes for the stablecoin ecosystem as large financial institutions around the world begin to add digital dollars to the mix of products and services offered to businesses and clients. Just a few days ago, USD Coin (USDC), the fastest growing, fully-reserved and regulated digital dollar stablecoin surpassed $2.3 billion marketcap, representing nearly 500% growth YTD and over $130B in on-chain transaction volume since launching just two years ago.

To keep pace, Centre Consortium, which oversees the USDC standard and protocol, announced a framework for Multichain USDC. Earlier this month, Algorand became the second public blockchain to be certified by Centre as an officially supported chain for USDC. With the launch, Algorand brings over 1,000 tps and transaction fees of 1/20th of a cent to the USDC ecosystem. In conjunction with the announcement, Circle announced broad support for USDC on Algorand in its global financial account and platform services for businesses around the world.

This week, it's with great pleasure that we bring Algorand founder, Turing Award winner, and MIT professor, Silvio Micali, to the show to share his thoughts on the state of the Algorand blockchain the major innovations coming down the road, including the implications for the use of USDC. We're also excited to have Algorand CEO, Steve Kokinos, on to discuss the incredible trajectory of the organization, the fast-growing global community, and industry and use-case priorities as we round out 2020, what's shaping up to be an amazing year for stablecoins and proof-of-stake blockchains.

Episode Highlights

Algorand CEO Steve Kokinos explains the most important important features on Algorand's blockchain

Algorand CEO Steve Kokinos and Jeremy discuss the Centre, Circle and Algorand partnership

What was the core breakthroughs Algorand founder Silvio Micali stumbled upon which created Algorand?

What role will USDC play in the Algorand ecosystem? Jeremy asks Algorand founder Silvio Micali

What is the capacity of Algorand today? How far has it progressed since inception?

What does Algorand CEO Steve Kokinos forecast for the future of blockchain adoption?

What are the major advancements are on the horizon for Algorand? Jeremy asks Algorand founder

What are some of Algorand's use cases? Jeremy discusses with Silvio Miacli, founder of Algorand

Algorand's Silvio Micali on why scalability is important for blockchains used by banks and fintechs

Jeremy opens the show announcing that USDC is now available on Algorand and is supported on Circle

Jeremy introduces Algorand CEO Steve Kokinos as they discuss the Algorand Foundation on #themm

How will USDC grow within Algorand's ecosystem? Jeremy asks Algorand CEO Steve Kokinos on #themm

Algorand founder, Turing Winner & MIT professor Silvio Micali talks about what got him in to crypto

Guests in this episode

Steve Kokinos

CEO, of Algorand

Silvio Micali

Founder, of Algorand