In the vibrant city of Dubai, a rapidly emerging global hub for blockchain innovation, we sat down with Algorand CEO Sean Ford. Our conversation delved into the platform's core technology and recent achievements, its strategic expansion into the MENA region, the state of the digital asset market following recent industry turmoil, and where Algorand stands amidst it all.
Good-natured yet candid, Sean doesn't mince his words. Early in our discussion, he addressed the elephant in the room. Despite the palpable excitement and continuous development within the Algorand ecosystem, no blockchain project is immune to market forces. After a challenging year for the crypto industry, marked by the collapses of Terra/LUNA, Three Arrows Capital, and FTX, he acknowledged that the entire sector was in need of a reset—and spoke about how to move forward as a united industry.
“Honoring our promises,” he stated, is one of the most significant ways for Web3 to build lasting credibility. He reinforced that Algorand, unlike some other ventures, has always prioritized this commitment—focusing on advancing the technology without speculative hype. Since its launch in 2019, Algorand has engineered a scalable protocol that delivers security, rapid transaction finality, and (as Sean emphatically points out), “zero downtime.”
Operating on a version of Proof-of-Stake (PoS), Algorand's Pure Proof-of-Stake (PPoS) mechanism prioritizes true decentralization. It selects validators randomly and anonymously, ensuring that all network participants have equal opportunities regardless of their stake size and preventing any single group from gaining disproportionate control.
Transactions finalize in under four seconds, and unlike some other Layer-1 blockchains, Algorand emphasizes accessibility. As a result, developers can build on Algorand using popular programming languages from Java and C++ to Go, Python, and Rust—without needing to learn an entirely new, proprietary language.
Why doesn't the Algorand name dominate the conversations of VCs or crypto influencers? Because its team has always avoided overpromising and underdelivering. According to Sean, the era for vaporware projects and reckless marketing is firmly behind us.
“Today is the time to move forward,” he states. “Our time is now.”
The background music begins to play a little too loud for a quiet conversation, but Sean remains unfazed; he leans closer to the microphone as I ask him to elaborate on some of the promises Algorand has kept. Self-described as the “world's most powerful and sustainable blockchain,” Algorand has attracted major attention this year, including partnerships with the global football governing body, FIFA, and the well-known music distribution platform, Napster.
Sean explains that Algorand only pursues partnerships where a solid technological foundation is at the core. For him, the FIFA collaboration is about “bringing new and advanced opportunities to its fans and the sport's broader community.”
As the official blockchain partner, Algorand has so far developed a platform for FIFA's digital collectibles. But Sean explains the vision is much broader:
“There are many ways the partnership could evolve,” from supply-chain bonds to creating composable tickets that “take on a life of their own.”
As FIFA embarks on its journey to embrace greater openness and transparency, Sean believes the partnership will be pivotal:
“It's the first step on its innovation journey to integrate modern technology and drive benefits to engage more closely with fans.”
Regarding Napster, which Sean refers to as a “pioneer ahead of its time,” Algorand's technology now allows the company to finally realize its mission to empower musicians—while properly rewarding its creators. Napster is one of several projects in the Algorand ecosystem that is championing the creator economy, enabling artists to tokenize and fractionalize their music and capitalize on the value of music royalties. Sean enthuses:
“Platforms like Napster are giving revenue back to big-name artists and independents struggling to make an income, not just in Western countries but all around the world.”
Beyond high-profile initiatives for retail users, Algorand has made significant inroads in traditional institutional circles. Interestingly (and in stark contrast to many Web3 projects), Algorand differentiates between “blockchain” and “crypto.” “Those are two very different things,” Sean states. Talk to anyone at Algorand, and you'll rarely hear discussion about its native ALGO token or its position in market cap rankings. Instead, the emphasis is on the underlying technology and building blockchain applications with the potential to transform industries on a massive scale.
Given the current market turmoil, we asked Sean whether Algorand has witnessed any pullback from institutional investors. He shook his head and reflected:
“Traditional finance institutions have been more lost and are demanding to understand the technology and the benefits, and are conducting deep due diligence on the capabilities of technology partners. They are more demanding because they have a fiduciary duty and can't accept things like downtime, a lack of security, or a lack of finality.”
While some of these institutions “don't move as quickly as we would like,” Sean believes their presence in the industry is a sign of what's to come. He gives the example of behemoths like Fidelity announcing a move into digital asset custody:
“I haven't seen a major pullback if you consider adopting new tech—at least in our world. Our partners worldwide, like Koibanx in Latin America, are working with dozens of financial institutions and banks to implement blockchain and Algorand for their operations. They're very active even in this climate.”
Algorand has established a significant presence in Latin America and Europe (Italy, where its Turing Award-winning founder, Silvio Micali, is from). Now, the team is setting its sights on the emerging MENA region. Already active in Nigeria, where the group is building a nationwide CBDC with its technology, Algorand is looking to establish a strong foothold in the Middle East, thus opening an office in the United Arab Emirates' most dynamic city.
“We chose this region [for our office] because we saw a tremendous opportunity. We know this region is disciplined and focused on the quality of a project, and we felt a great alignment between what we bring to the table and the UAE's vision for Dubai to be the first global city powered by blockchain technology.”
Algorand recognized the potential in this part of the world early on. In 2019, the team worked with UAE authorities to achieve Shari'ah compliance as a blockchain. He explains:
“We were one of the first chains to receive [Shari'ah compliance certification].”
He says that the Dubai office is “a great foundation to build relationships in this region and reignite conversations more formally as we head into the new year.”
Sean had earlier described Algorand's outlook as “pragmatically optimistic.” Still, when we ask if he's concerned about the regulatory fallout from the FTX/Alameda collapse, he chooses his words carefully:
“Concern is not the word I would use. I hope there is a proactive approach to providing clarity and security for people using blockchain.”
He says there is a tendency to “lump everything into one bucket” despite the vast differences between various industry players. “Above all,” he says:
“My hope is that innovation is still welcomed in the blockchain space and that the appropriate levels of assurance are put in place around the exchange of value.”
What else is on the horizon for Algorand as we move into the new year? Sean pauses. “There are a number of things I’m most excited about,” he says:
“First of all, I’m looking forward to an end to tribalism in the industry. I’ve never liked that. There needs to be a more collaborative, ‘wins are shared’ approach and a greater desire to create simple, interoperable tools so people aren’t forced to choose one tribe over another.”
In the Algorand ecosystem, these tools are known as “Algorand state proofs,” which Sean describes as “truly transformative technology” and “the first step into a fully decentralized, trustless bridge that will allow assets on any chain to be exchanged and be interoperable with assets on any other chain without using centralized points of failure. That is pretty revolutionary. I am excited about interoperability and state proofs on Algorand in particular.”
A boat glides past in the waterway below, and the ancient-world-themed souk behind us forms a stunning contrast against the backdrop of one of the world’s most iconic buildings, the Burj Al Arab, rising from the sea like a giant sail. Sean shakes my hand and thanks us for our time, and we wish Algorand all the best for the year ahead as interoperability solutions in the crypto—sorry, “blockchain”—space begin to open up in earnest.
