Blockchain scalability is a ‘solved problem’ says Offchain Labs CEO
Regulatory compliance and building better user interfaces is the next step for wider blockchain adoption
Torbz/Shutterstock modified by Blockworks
Blockchain scalability is no longer the biggest barrier for public blockchain adoption, says Offchain Labs’ Steven Goldfeder.
Goldfeder, Offchain Labs’ chief executive, said during the Real World Asset Summit held in New York City on Tuesday that the biggest challenges faced by ecosystems today center around the creation of tools with better user interfaces and regulatory compliance.
“Scalability is very much a solved problem today,” Goldfeder said. He went on to note that scaling is a never-ending process that blockchain infrastructures today are equipped to handle.
“That’s not the problem that ecosystems are working on today. It’s about user interface and compliance,” he said.
Read more: What we need to scale blockchain technology into the future
Resolving such issues would ease the path for larger institutions, including banks, according to Provenance Blockchain CEO Anthony Moro.
That sentiment was shared by Charlie You, co-founder of RWA.xyz, who said that existing institutions and users aren’t interested in the tech behind blockchain protocols. Rather, they care whether they’re safe and legal to use.
You went on to say that developers should consider different kinds of users when building.
“A lot of existing RWA users are not crypto users; there are a lot of people who are using these products, but they are not the same people who are using Uniswap,” You said.
Sergey Gorbunov, the co-founder of Axelar, added: “It’s important to make it easy for people to have easy flow to on-ramp into these structures.”
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