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Tag: wallets

How Will Crypto Wallets Lead Us To The Wild World of Blockchain Apps? 

We’re a long way from the wallet becoming the next browser. But there’s more than one way to get there.

I wrote another article that was published on the week-end in Fortune, entitled The growth of Web3 depends on crypto wallets—and how we choose to use them.

The article discusses the question, Will the popularity of wallets lead users to a Web3 world, or will current web apps move more quickly in that direction by first incorporating built-in wallet functionality?

It’s a bit of a trick question because both paths will be valid, in my opinion.

Having more built-in wallets inside apps is inevitable, and that trend is going to increase. In these cases, the app itself is the main attraction, and the wallet takes a second-class position to it. In these cases, there is tight integration between the app and wallet experiences.

Then what happens when you own a variety of cryptocurrencies? You will need a multi-currency wallet to hold them. That’s where the standalone wallet comes in. In that standalone category, there is more than just holding currency. These wallets also function as a bridge to “decentralized apps”, ones that use the wallet as a user login or for authentication and pseudo-identity purposes, such as for Decentralized Finance.

Today, we have an abundance of choices in standalone wallets, while there is a shortage of useful apps that use the built-in wallet in a significant and essential way.

With that backdrop as a set-up, I invite you to click on the link and read (no paywall) the full article, The growth of Web3 depends on crypto wallets—and how we choose to use them.

P.S. The image above was generated by starryai with the prompt “A bridge depicted by cryptocurrency wallets.” I was pleasantly surprised that it also included the hamburger menu alluding to apps, although I didn’t give it that directive.

The Crowd is Always Right: ICOs, Regulation and Crypto Wallets in Your App

PAFF_101116_WisdomofCrowds_newsfeature-300x250I’m taking a liking to Twitter surveys, and would like to highlight the past 3 that I recently conducted.

Following a cue from the first one that was prescient, I’m a believer in the wisdom of the crowd.

ICO or Token Sale?

In early 2017, some people started to dislike the term ICO. I’ll admit being torn between naming our conference ICO Summit or Token Summit (I had already privately registered the domain icosummit.com last year). Token Summit won, as it was the overarching theme. But the crowd was right that the term ICO had a lot of legs to it, and sure enough, we have seen the flurry of ICOs take off in the May/June timeframe.

Whither ICO Regulation?

To regulate or not regulate is not the question, but rather: to what degree, when, by whom, and for whom? In this survey, the time horizon is very important. The crowd doesn’t believe that regulation will come to ICOs within the next 90 days. This is a survey that is likely to be repeated.

Is That a Wallet in Your App?

Only a few decentralized apps have a built-in wallet that can hold your cryptocurrency tokens. Steemit is a well known example. If a token is part of your product or app, then the next logical functionality is to build a wallet to keep track of these tokens as you interact with the product or service. There is no doubt that more and more apps are going to include wallets inside of them.

While I can’t wait to see blockchain prediction markets like Gnosis and Augur take full shape at tackling the wisdom of the crowd on a larger scope, I think a few surveys can give a good picture.


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