- The SEC describes Algorand’s native token, ALGO, as a security.
- Bill Morgan thinks the SEC’s description contributes to ALGO’s slow development.
- ELDAR believes poor marketing strategy is hurting ALGO’s development.
The Securities and Exchange Commission (SEC) describes Algorand’s native token, ALGO, as a security. According to Bill Morgan, a well-known lawyer and digital assets enthusiast, this is a factor in the problems confronting the blockchain platform.
Morgan commented while responding to a post by an analyst identified as ELDAR on X (formerly Twitter). In the post, ELDAR narrowed Algorand’s problems to the project’s inability to execute proper marketing exercises. According to him, the problem is not about Algorand not having the best tech and biggest projects building on its rails.
ELDAR notes that ALGO’s problem stems from the lack of knowledge from the public and crypto media/influencers due to the ‘tame’ Algorand marketing strategy. He believes Algorand’s failure to execute robust marketing and awareness programs hurts the project and ALGO holders.
While making comparisons, ELDAR noted blockchain platforms like BTC, ETH, ADA, MATIC, XRP, HBAR, etc., are better at promoting projects building on their rails. He thinks if it were any of these platforms with the projects on Algorand’s rails, everyone would be talking about them.
Some projects building on Algorand’s rails identified by ELDAR include ISDA, a derivatives market standard for all global corporations. According to him, the estimated size of the derivatives market is nearly $1 quadrillion. He also mentioned the Bank of Italy, a EUR250 billion sureties bond project. ELDAR described it as the biggest debt capital markets tokenization of bonds by a significant margin seen to date on the blockchain.
ELDAR mentioned other projects on Algorand rail like TIPS (Bank of Italy/EU), the European Targeted Instant Payment System. He explained that it processes roughly EUR 1.7 trillion daily, making it the largest payment system globally, and several others, including Agrotoken, Lofty, SIAE, HesapPay, TravelX, and many more.
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