Editing Solana (section)

=== <u>Utility of Solana</u> ===

* Solana is a decentralized blockchain built to enable scalable, user-friendly apps for the world.” It’s a similar mission statement for other utilitarian networks. Essentially, decentralized protocols facilitate a better way of conducting business.
* Implicit in this understanding, though, is the concept of financial access and democratization. To be clear, I’m not sure where the executives behind the Solana project stand regarding their broader social goals. But blockchain advocates have long stated that the greater efficiencies of decentralized protocols allow for developing communities to integrate themselves to a wider financial ecosystem.
* Under the traditional fiat currency system, microtransactions are difficult to conduct because the costs associated with such transactions may exceed the value of the currencies being transacted. Thus, large institutions don’t even bother with developing communities, leaving their economies languishing. Theoretically, a high-speed, low-cost network like Solana could address the indirect discrimination that the harsh realities of microtransactions impose.