Why Alexander Guseff Thinks Blockchain Needs a Rethink
Staff Writer • 2025-01-24
Blockchain, once heralded as the cornerstone of digital transformation, is at a crossroads. While cryptocurrencies have dominated headlines, the underlying technology is often misunderstood, misused, or simply misapplied. Enter Alexander Guseff, CEO of Tectum, a blockchain pioneer who has spent years dissecting the mechanics of the technology—and he’s on a mission to redefine its purpose. In a candid interview on the Stonks Go Moon Podcast, Guseff shared his journey from engineering in Russia to building blockchain solutions in the United States. His insights provide a compelling narrative on why blockchain must evolve beyond its current limitations. Blockchain: From Novelty to Necessity "Blockchain isn’t a product; it’s a tool," Guseff emphasized during the podcast. This simple yet profound realization shaped his approach to the technology. While many view blockchain as a means to an end—whether for financial transactions, NFTs, or supply chain transparency—Guseff sees it as a solution waiting for the right questions. Legacy blockchains like Bitcoin and Ethereum have paved the way, but Guseff argues they’re no longer fit for purpose in today’s fast-paced digital ecosystem. "Bitcoin is becoming a store of value rather than a unit of account or method of payment," he explained. Transaction costs are high, speeds are slow, and usability for everyday transactions is impractical. "I don’t see myself buying a $1 cup of coffee with Bitcoin and paying $30 in fees." The Race to Innovate The blockchain space has become a red ocean of competition, with speed and scalability as the holy grail. Tectum initially joined this race, achieving an impressive milestone of over one million transactions per second in lab conditions. But by 2021, Guseff and his team realized the futility of this arms race. "You cannot win that race," he admitted. "There’s always going to be a faster guy, a smarter guy, or a better-funded competitor." This epiphany led to a strategic pivot, and out of the ashes of ambition, SoftNote was born. SoftNote: A Second-Layer Revolution SoftNote is Tectum’s answer to blockchain’s most pressing challenges. Instead of trying to outpace competitors on raw transaction speeds, Guseff shifted focus to efficiency and utility. Built on Tectum’s proprietary blockchain, SoftNote enables the secure transfer of wallet ownership without the need for constant on-chain transactions. "Bitcoin promised anonymity, security, and transparency—not speed or low cost. We preserved those promises while adding speed and flexibility," he explained. By layering a passcode-based system on top of existing Bitcoin wallets, SoftNote enables instant, secure, and anonymous transactions that are more accessible and scalable than traditional blockchain solutions. The Bigger Picture: Crypto Adoption and Government Resistance While technology like SoftNote solves technical issues, Guseff recognizes that widespread adoption faces a more significant barrier: governments. "Crypto isn’t being mass adopted because of its technology—it’s about capital circumvention," he said. Governments rely on taxes to fund infrastructure, security, and services. Allowing citizens to move money across borders without oversight threatens that foundation. "You cannot blend two systems—traditional finance and decentralized crypto—without replacing one of them entirely," Guseff noted. For blockchain to achieve its potential, it must address not only technological limitations but also systemic resistance. A Vision for the Future Guseff’s journey reflects the evolution of blockchain itself: a promising concept, followed by growing pains, and finally, the maturity to find its true purpose. His message is clear: blockchain must prioritize utility over hype, solving real-world problems rather than chasing buzzwords. As governments, technologists, and businesses grapple with the implications of decentralization, visionaries like Alexander Guseff remind us that innovation isn’t just about moving fast—it’s about moving in the right direction.
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