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According to a co-founder, Aptos wants to revolutionise the blockchain industry by generating more economic value

Chain Reaction is a podcast that interviews prominent figures in the cryptocurrency industry to learn their backstories, how they got started, and what they think of the newest developments in the industry.

This week, I interviewed Mo Shaikh, CEO of layer-1 blockchain startup Aptos and host of the podcast’s namesake show. Shaikh has been a pioneer in three separate industries: finance, blockchain, and cryptocurrency, with a combined experience of more than a decade. In addition to his position as the director of strategy at ConsenSys, he also assisted in developing blockchain strategic alliances for Novi, Meta’s wallet.

During the podcast, Shaikh said, “When we’re thinking about Aptos, we clearly believed that the people need a new form of sharing information digitally and being able to share that knowledge and economic value digitally in more efficient, more fair ways.” That’s the goal we’re working for, after all.

The blockchain company Aptos had a fantastic year in 2018, with a public debut and an estimated $400 million in investment despite the bear market, as recounted by Shaikh. The relatively young layer-1 has attracted funding from industry heavyweights including Andreessen Horowitz, Circle Ventures, and the defunct FTX Ventures.

According to Shaikh, Aptos’s goal is to provide sub-second latency for thousands of transactions per second while reaching billions of users without interruption or outage. The combination of these factors, the author argues, “may rival not just other prior generations of blockchains and scaling solutions that we’re seeing in the market, but are also beginning to threaten the internet and the way economic value and information travels throughout the globe itself.”

As 2023 approaches, Aptos hopes to make it a “year of purpose,” as Shaikh put it. To paraphrase, “I believe that this is an industry-wide year of purpose.”

Moreover, he predicted that conventional companies that had been “waiting on the sidelines,” such as its Google relationship, will soon rush into the field “in a significant manner,” ushering in a new era for web3 goods already on the market.