The idea behind the latest tech out of solana labs lets bring in solana, co founder anatoly yakovenko plus yahoo finances own david hollerith joining in. For the conversation anatoly great to have you here with us today, first and foremost, i mean just general question like how does it work um, so theres a couple technologies in there? First of all, the solana mobile stack is a piece of software that allows users to store their keys in the phone in such a way that nobody can ever steal them and theres a wallet adapter to connect all the wallets through those keys to all the applications. A web3 app store that is web3 first, so it doesnt have those extractive fees that developers are used to and these technologies all tie in into some into like experiences like tap to pay, can bring up your phantom phone, your phantom wallet, and then you can pay With any coin like with any token at your cafe, so things like that, i think, are pretty important and uh transformative for crypto, because its not a lot of technology, its literally something that a small team can build. They just require a few changes and that only oems can do so. Weve been partnered with awesome to build this amazing device, the flagship phone, the salama saga, thats, a top of the line device. I mean this device should probably be selling for two for 13 1400 bucks, but we want to do well to our community, so you can go to solanomobile.

com pre order it for a hundred bucks and its a thousand for retail. Hey anatoly uh, thanks for coming on uh, i was just curious what uh? What is what has led solana to thinking of issuing a phone? I know uh, your background is qualcomm and obviously uh. Slanet labs has many qualcomm engineers, so i was just curious. What has sort of led you to this? Well, i mean, given that i worked there for over a decade and um. A lot of my experiences were deep in the kernel like as soon as i started, working in crypto, i felt that why isnt the you know, the trust zone in my android device handling the keys in a secure way. Why is there no trusted display for me to sign my transaction with um these little changes uh? You know we had the technology to do that. Like five years ago, um but uh crypto hasnt really broken out to uh the attention of uh, the big tech companies. Yet so i think were the first ones to do it. If we see an option im assuming everyone else will will change as well and uh. That would be a great thing for the industry. Would you classify this as as a cold storage solution is it? Is it still hot once you kind of turn the device on you know? How should we be thinking about this um? You know theres various degrees. Obviously, if youre an institutional trader – and you have like you know – you need like real custody with like extreme security, but if you need something when youre walking around and you want to basically pay at a cafe.

This is a perfect solution for that now anatoly. I can totally see how you know: solana. True believers are going to love this phone, but i i am curious. What are you thinking in terms of like a user base um out of the gate so, but the the big uh risk were taking the big opportunity? Is that the big app store policies right now are so bad for web3 developers that we believe and a lot of devs tell us, like you know, founder of openc, that uh 50 000 users, with a best in class website experience for for those users that are Active that have a primary device, as this is going to be a better distribution channel than the big app stores, because, like the business models for web 3 are just so different, they dont really work with uh with web 2.. Magicking cannot add a 30 fee and a 10 000 nft its just not going to work. How many units do you anticipate needing to produce in order to just kind of get that first phase to really address the first wave of adopters out there? So we had like uh over 1500 um devices registered in the you know in the first 24 hours and over 10 000 on waitlist. You know i dont know where thats going to end up with, but i would be happy with like anywhere over. You know: 25. 000. 50. 000. To me, that would be an awesome success for, for a first attempt, yeah its clearly bold and ambitious and solana.

The actual transaction mechanism is sort of works that way too um, but you know i know youre aware of this too in 2018 that um a couple uh and 2019 a couple crypto phones were issued and knowing that those have all um not been successful, you know Tell me how how this line of phone will be successful in light of that, so were you know like remember that balmer video of him screaming developers, developers thats us were very developer first, so this is device. This is a device thats a new platform for developers. We have one of the fastest growing developer communities in the world out of any any network, probably any technology right now so um. What were building this is for devs to take advantage of these new features, and the theory is that 25 000 web 2 users that are dedicated users that are active and an app store with no restrictions, is a better distribution channel than the big app stores.