Widely-used fintech giant Plaid has partnered with Sei Labs, the company developing open-source software for the Layer 1 blockchain that went live on the mainnet about two months ago.
“For blockchain to succeed you need normal people coming to use the blockchain. Normal people come on if there are killer applications for them to use,” said Sei Labs co-founder Jayendra Jog. “And killer applications only come once you set up the right guardrails for developers to come, and Plaid is one example of these guardrails.”
“With this Plaid partnership it’s going to be much easier for someone like me to just connect my bank account, transfer money to some kind of financial app,” added Jog, previously a software engineer at Robinhood before starting Sei Labs. “There’s this really strong misconception from people in crypto that crypto is just going to completely replace everything that exists in traditional finance,” said Jog. “That might happen 50 years from now, but I think it’s going to be a much more gradual process. And the most clear way to get more on-chain adoption is rather than trying to replace everything, by collaborating with the systems that already exist.
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