At first glance, Steven Laver might not seem like the person who would be leading one of the most daring projects in the crypto world.
Laver, a 43-year-old software engineer, has an impressive background in tech. He worked on the BlackBerry in the 2000s and later contributed to developing the Windows Phone app store at Microsoft. However, he only started working in the crypto industry in early 2022.
Now, Laver is the lead software engineer at Solana Labs, aiming to revolutionize the crypto experience by integrating blockchain capabilities into mobile devices.
“This project feels limitless,” Laver told DL News in a rare interview. “It seems like a crazy idea, but it also feels like the ultimate goal.”
The goal is Solana’s second mobile phone, named Chapter 2, expected to be released in early 2025. The preorder price for the new device is $500, and Solana has already received over 130,000 preorders, totaling $65 million.
This is a bold move for the four-year-old blockchain network. The mobile phone industry, one of the most regulated sectors globally, is dominated by giants like Apple and Samsung.
So why would Solana, a leading player in decentralized finance with a token valued at $82 billion, take such a significant risk by entering the hardware market?
“It’s a very challenging proposition,” Chris Lewis, an independent telecom analyst with over 40 years of experience, told DL News.
The motivation behind this move is control. The Chapter 2 phone represents Solana’s effort to free crypto from the constraints of desktop computers and the dominance of app platforms owned by Apple and Google.
For years, these tech giants have imposed high fees or outright banned crypto-friendly apps from their platforms, creating significant hurdles for mobile crypto developers.
In an era where activities like investing, shopping, and banking are increasingly conducted on smartphones, crypto is still struggling to establish a firm presence.
“We’re accustomed to everyone bringing a laptop to social events to avoid missing any important transactions,” Emmett Hollyer, head of business development and operations at Solana Labs, told DL News.
Solana is not the first crypto venture attempting to break the stronghold of major tech companies. Over the past decade, more than a dozen specialized crypto phones have entered the market, but none have achieved significant success.
Last year, Solana launched the Android-powered Solana Saga. About 20,000 units of the $600 handsets were sold, falling short of the 50,000-unit target. In contrast, Apple shipped over 80 million iPhones in the fourth quarter alone.
Despite past challenges, Solana remains determined to carve out a space for crypto on mobile devices, hoping that Chapter 2 will be the breakthrough they need.