On October 31, Lisk, the Swiss-based Web3 infrastructure company, will shut down its blockchain network and move what remains of its products and developers to Celo, a rival network.
A blockchain is the infrastructure that enables digital assets, such as cryptocurrencies and stablecoins, to be transferred between users without relying on a conventional bank or payment processor.
Lisk’s decision marks the end of a blockchain project that began in 2016, first as a foundational blockchain network built from scratch, before later shifting to Ethereum. While the company announced the wind-down in August, the strategic reset began months earlier, when co-founder and chief executive officer Max Kordek returned to the business in December 2025 alongside former chief technology officer Oliver Beddows, who became chief strategy officer. Kordek stepped down as CEO of Lisk in 2024 as the Lisk Foundation expanded its focus beyond blockchain.
Their first move was consolidation. The Onchain Foundation, Lisk’s parent entity formerly known as the Lisk Foundation, discontinued several initiatives, including Onchain, its research arm, and Pass App, its wallet product, to focus resources on Lisk’s pivot away from blockchain infrastructure.
Originally published by TechCabal.