After having trouble with health insurers and government officials, Gokal realized there are systemic problems in the healthcare business.
Raj Gokal, COO of Solana Labs and co-founder of the Solana blockchain protocol, started out as a venture capitalist investing in fast-growing technology companies.
For the last seven years, health technology has been Gokal’s core focus. He started by exploring the world of Bluetooth Low Energy–based wearable sensors.
Later, he was put in charge of product management at Omada Health, with the mandate to address the many challenges of the disjointed American healthcare system.
However, Gokal ran into problems with health insurers and government authorities, pushing him to recognize the industry’s ongoing problems.
When Gokal met Anatoly Yakovenko, co-founder of Solana, who had a creative proposal to solve scaling problems in the cryptocurrency industry, his career changed dramatically.
This meeting sparked Gokal’s interest in the crypto business, and he has since spent the better part of the last five years reaping the benefits of his involvement.
Gokal was recently interviewed by Cointelegraph, where he spoke on Web3’s scalability, tokenization, and other features.
Real-world applications of Web3 were a major focus of the interview. Gokal brought attention to the development of distributed networks for physical infrastructure, such as Helium and Hivemapper.
These initiatives proved the usefulness and importance of using blockchain technology’s cheap costs and scalability to develop novel solutions without relying on centralized institutions.
Gokal underlined the significance of distributed transaction processing, validation, compatibility, composability, decentralization, and battle-testing spanning numerous cycles as important architectural factors for constructing practical solutions on layer-1 platforms.
The topic then went to the mobile and payments activities that Solana has undertaken, such as the launch of Solana Pay and the Saga phone.
Gokal said these efforts were made to encourage digital giants like Apple and Google to adopt user-centric frameworks and to promote a more inclusive and accessible payments environment.
Gokal saw the vast opportunity in this area and highlighted companies like Parcl and Homebase. He said that in order to increase platform acceptance, it is crucial to make them easily accessible, user-friendly, and trustworthy, and to provide users with engaging storylines.
Gokal finished by elaborating on the two phases of product-market fit in the Web3 arena, stressing the need of monetizing contributions to networks that provide tangible benefits to end users.
He admitted that these innovations were still in their infancy but expressed optimism for the Web3 ecosystem’s long-term prospects.