Tectum’s Vision: Rethinking Blockchain for Real-World Utility
Are we misusing the blockchain? Rethinking Blockchain for Real-World Utility with CEO Alex Guseff
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Are we misusing the blockchain? Rethinking Blockchain for Real-World Utility with CEO Alex Guseff
Blockchain technology, once hailed as a digital revolution, now faces critical scrutiny. Alexander Guseff, CEO of Tectum, is leading this reevaluation, advocating for a fundamental shift in how we perceive and use blockchain. In a recent appearance on the Stonks Go Moon Podcast, Guseff shared his journey from engineering in Russia to pioneering blockchain solutions in the United States, offering insights into the technology’s challenges and future potential.
Guseff emphasizes that “blockchain isn’t a product; it’s a tool.” This mindset has shaped Tectum’s approach, viewing blockchain not as an end but as a means to address specific problems. While Bitcoin and Ethereum have popularized blockchain, they are becoming less practical for everyday transactions. “Bitcoin is becoming a store of value rather than a unit of account or method of payment,” he notes, pointing out high transaction costs and slow speeds. “I don’t see myself buying a $1 cup of coffee with Bitcoin and paying $30 in fees.”
Initially, Tectum sought to compete in the race for faster and more scalable blockchain solutions, achieving over one million transactions per second in laboratory settings. However, by 2021, Guseff recognized the limitations of this approach. “You cannot win that race,” he admits. “There’s always going to be a faster guy, a smarter guy, or a better-funded competitor.” This realization led to a strategic pivot and the development of SoftNote.
SoftNote is Tectum’s innovative response to blockchain’s challenges. Rather than focusing solely on speed, Tectum prioritized efficiency and utility. Built on Tectum’s proprietary blockchain, SoftNote enables the secure transfer of wallet ownership without constant on-chain transactions. “Bitcoin promised anonymity, security, and transparency—not speed or low cost. We preserved those promises while adding speed and flexibility,” Guseff explains. By implementing a passcode-based system atop existing Bitcoin wallets, SoftNote facilitates instant, secure, and anonymous transactions, making cryptocurrency more accessible and scalable.
Beyond technological advances, Guseff highlights the hurdles to widespread crypto adoption, particularly from governmental resistance. “Crypto isn’t being mass adopted because of its technology—it’s about capital circumvention,” he observes. Governments rely on taxes to fund essential services, and unregulated money flow threatens this system. “You cannot blend two systems—traditional finance and decentralized crypto—without replacing one of them entirely,” Guseff asserts.
Guseff’s journey mirrors blockchain’s evolution: from an exciting concept to a mature understanding of its true purpose. His message is clear—blockchain must prioritize utility over hype, addressing real-world problems rather than chasing trends. Leaders like Guseff remind us that innovation is not just about moving fast but moving in the right direction.
