6 Questions to Akoin’s Lynn Liss – Cointelegraph Magazine
We ask blockchain and cryptocurrency industry builders for their thoughts on the industry…and throw in a few random zingers to keep them on their toes!
This week, our 6 questions go to Lynn Liss, COO and co-founder of Akoin, a cryptocurrency and blockchain ecosystem designed to empower entrepreneurship and nurture emerging entrepreneurs in Africa.
Lynn Liss is COO of blockchain and cryptocurrency company Akoin, co-founded with global leader Akon. She is an operations manager and social impact leader who drives financial revolutions, builds empowering technologies and business models, and forges strategy, partnerships and teams for massive social change. Leading Akoin’s mission to boost entrepreneurship and financial inclusion across Africa, she brings over 10 years in the social impact and startup industry as well as another 10 years as a as a management consultant advising, executing and leveraging innovative business and financial models for the world. change with C-level executives at the world’s largest companies. Lynn has been a pioneer in the “blockchain for good” space, providing executive advice to blockchain companies and new cryptocurrencies and blockchains with social impact.
1 — What type of consolidation do you expect to see in the crypto industry in 2022?
Well, we’re certainly in the protocol wars right now between L1s, L2s, and all walks of life in and around the protocol space. While the idea of interoperability allows many protocols to exist simultaneously, the space will not require the current amount that is envisioned or coming to life. That said, having these different models to evaluate and determine both technically and financially where and how you want to experience them, coupled with the pure “competition makes you stronger” mentality, causes platforms to refine their approach and their platform up to the minute. It’s more than exciting to watch such a race!
We all benefit from the plethora of solid protocol options that keep getting better, including the simultaneously strengthening approach to interoperability from an industry perspective and how we adopt these tools in our tool set. So consolidation, yes, but existing together and across the chain – yes too.
I am very encouraged by the large number of projects launched at the moment. In my opinion, we are seeing a “rebirth” in the blockchain space where there are no wrong answers. It won’t last forever, as it always does, emerging use cases will render others obsolete, different mechanics will be well received, while others will not. This will in turn lead to the launch of the next generation of blockchain applications with much higher fidelity from a UX perspective as well as strong business structures and operational procedures. This shift from “experimentation” to “use case” as an overarching industry ethos is going to be fascinating to watch in the months and years to come.
2 — What will happen to Bitcoin and Ethereum in the next 10 years?
Speaking of “walks”, I just took one with a neighborhood friend who is relatively new to the blockchain and cryptocurrency space, and found myself suggesting that a “toe in water” would be to invest in some of the major currencies. and protocols as a starting point through wallets such as Coinbase. Given that bitcoin and ether are the most common stepping stones for the masses (there are a couple more I’ve added to this list, and bitcoin is too volatile for my liking), these OG players are obviously going nowhere. share, and given the size among the communities that support them, they will continue to drive industry innovation with the new L1s and L2s described above. As more rise, we will see stronger competition and more interoperability with these majors. This is also where most businesses are starting to consider receiving cryptocurrency for base payments, so there’s no doubt about making these currencies even stronger and not going anywhere. where so soon.
What interests me the most is which of the emerging currencies linked to L1 and L2 will rise to the top and begin to be adopted by less crypto-savvy players. My prediction is that when it comes to specific industry lanes (i.e. market sectors such as lending to geography like what we are doing with Akoin in Africa) many altcoins will will move into the top 20 and become more common. and used for daily activities. It’s where you’ll find users who really care about a specific market or space, want more value and utility than current offerings, and are looking for solutions tailored to their needs. These users will become more and more comfortable holding these assets, not from an investment point of view, but from the point of view of utility and daily use, which is the holy grail.
Coming back to the original question, the reality is that these major protocols aren’t going anywhere, especially when it comes to Bitcoin, because it represents the “gold” equivalent of a store of value on the blockchain. Ethereum, on the other hand, is much more analogous to an operating system than anything else. The advantage of Ethereum is the constant attention to upgrades and usability. Although its price is currently prohibitive for a host of reasons – not the least of which is exorbitant gas fees – the emergence of L2 solutions allows Ethereum to essentially cannibalize the useful mechanisms it encounters while discarding the less useful ones. . As a result, I see Ethereum remaining the dominant L1 for years to come, with Bitcoin retaining its status as the primary store of value on the blockchain.
3 — When you tell people that you are in the blockchain industry, how do they react?
I am happy to report that in general people are less surprised and bewildered as to what this means than two years ago when the ICO craze was taking the world by storm. Although still very nascent, blockchain technologies and cryptocurrencies have found their way into traditional banks, government agencies, and the Fortune 500, right down to people holding some of the major cryptocurrencies. There seems to be a higher level of comfort in making basic payments in crypto, there is less bewilderment and more curiosity these days. This curiosity coupled with people and large corporations willing to dip their toes in blockchain waters is where major crypto adoption will happen, and we’re excited to be able to find out together. That’s what excites me the most – to be at this tipping point between an “emerging technology paradigm” and widespread adoption into the industry standard. With that, myself and others who have been in the space for a long time and want to see this industry grow, are excitedly taking the time to walk around and tell newbies about it. In doing so, you refine the story and the path, and forge how everyone will find their way through this space in one way or another. All of this keeps us excited and on our toes too!
4 – List your favorite sports teams and choose the most memorable moment watching them. If you’re not a sports fan, choose a few movies and a moment!
Ask my husband – I had to ask him who was playing the Super Bowl, and we live in Los Angeles. When it comes to movies, anyone who knows me is well aware that Eminem’s “Lose Yourself” from the movie 8 miles will play at my funeral (unless we exist in another interdimensional plane by then, but that’s for another question). That moment on stage and the lyrics sum it all up.
5 — What is your position on extraterrestrial intelligence and the existence of life elsewhere in the universe?
I have no doubts on the “existence of life elsewhere in the universe” front, so a resounding “yes”. For a deep dive on all things “extraterrestrial intelligence” and whether we have been visited by such forces here on Earth, you should ask my husband, Ira Liss, who is a semi-expert on the subject. I remain openly curious, as in all things.
6 — Other than today, when and in which country would you have liked to live?
I really had to think about this one, from the glamorous and sensational music of the 1920s and 30s to the jazz revival in Paris, New York in the 40s and 50s with its eclectic literary circles and upscale gatherings. That said, I would not choose to exist anywhere other than my current place and time. One of my favorite sayings is, “Yesterday is history. Tomorrow is a mystery, but today is a gift! That is why it is called the present. Many wonderful people have been credited with creating this quote, from Eleanor Roosevelt to Bil Keane and more. This resonates with me on a daily basis, because making the most of each day and the magical energy that surrounds you is a true gift.
A wish for the young and ambitious blockchain community?
Curiosity, experimentation and continuous innovation.