Building unicorns on blockchain. The example of Germany’s Solana superteam.

Solana is one of the most popular and used blockchains on the planet, with the highest number of Monthly Active Users (in excess of 100 million, according to VC and thought leader a16z; see their State of Crypto 2024 for more information). How do you scale adoption of a technology infrastructure that has collected overtime hype and glory, as well as a few scandals and a fair dose of bad press. This is why we sit down with Patricia Albrecht, based in Berlin, who leads Solana Superteam Germany focusing on enterprise adoption, startups and new ventures in Germany, Europe’s largest economy. This is our exchange.

Tell us a bit about your story and what you do

I am the Lead of the Solana superteam in Germany. It’s the talent layer that works on the Solana ecosystem here in the country. We take care of the full cycle of scouting, incubating, investing in the best startup that can leverage the Solana technology to accelerate their product and go-to-market strategies. We also work with governments and other private and public institutions in the country, to foster this network of innovation and growth. Solana has similar operations in twenty markets globally, from Canada to UAE, for example.

As for me, I started a decade ago, working for the United Nations in Geneva. Very similar job, as I was building startup ecosystems in emerging economies, for example from Bangladesh to Rwanda. It’s during that time that I saw for the first time how crypto was being used. These players, obviously, were not interested in the speculation side of crypto. It was about access to capital and exchange of value. In most emerging economies, it’s still very expensive to send and receive money. In 2018, I left Geneva and got my MBA from Oxford. In between, I had two companies. I have been a VC, investing other people’s money, and also an angel investor. All in all, I have worked in the startup universe from a variety of angles. Capital and talent can and do move the needle in our world.

What are the current big battles to win for blockchain?

On the retail side, the challenge is UX and UI, so the consumer journey. User interfaces are still complicated and non-conducive to mass adoption. For sure, that is a first side that needs improvements.

Then, regulation needs to catch up. Some regions are more advanced than others, like the US and the UAE. Blockchain is still affected by malicious actors. Meme coins, mostly, are one example. There are a lot of players using crypto to maximize personal gains. But laws and rules are coming to clean this up.

Practical Use Cases also key. For example, Munich based blockchain startup Arcium works on a confidential computing network which can enable hospitals and researchers to collaborate on sensitive patient data without compromising privacy. The most strategic industries will change thanks to tech. Huge efficiencies can be realized thanks to what we do. We are moving into a different focus, solving problems in real life for people and enterprises.

What’s the future of blockchain?

Through blockchain we can democratize access to capital markets for all. It’s the advent of the so-called internet capital markets. Everyone, with just a mobile phone, can access financial opportunities, transfer value, and participate in global markets efficiently and transparently.

Retail cannot work without B2B infrastructure. The entire industry has matured and professionalized, from better infrastructure to secure custody, and compliant stablecoins. Stablecoins have tremendous product/market fit. Germany’s numbers are going up. Germany is a powerhouse of innovation, with the best talent in the world. If there are unicorns in Europe, they will come from Germany. And blockchain and Solana will play a key role in enabling that future.

Are you optimistic or pessimistic about the future, in light of current tech progress (AI and blockchain)?

I am very optimistic about the future. The blockchain industry has gone through cycles, of course. The FTX crush has had a massive impact on Solana. We are now back. Solana has all the cards to replace Ethereum as the blockchain of choice for Retail and Enterprise. We can now work on the economy’s fundamentals. We can bring to the market real solutions, also with the help. Also, big institutions like Blackrock and banks are adopting the tech, so all stars are aligning.

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