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Are Blockchain Wallets The Killer App Of Web3?

  • 13 days ago

The killer app for Web1 and Web2 was so fundamental that today we take it for granted: email.

It’s how we identify ourselves to do nearly everything a user can do online: sign up for social media accounts, subscribe to content, make online purchases and more.

Similarly, consumers’ Web3 wallet enables them to have a presence in the metaverse and do everything from accumulating digital tokens or NFTs (non-fungible tokens) from their favorite artists or brands to doing all kinds of things. This is the nature of all killer apps in technology: They’re never about hype. They’re always about a basic utility that unlocks a new type of user behavior.

Blockchain wallets have the potential to be the killer app for Web3 and are fundamental to the future of identity. Your wallet keeps your user behavior and most valuable digital assets safe. And just as digital tokens can be used as currency for an exchange of value, users will be able to receive value in exchange for the consent to access their behavioral data.

To scale, wallet adoption must be fast, safe and easy.

Identity matters even more in Web3 because Web3 promises to give consumers real control over which businesses can access their data. Instead of intermediaries and walled gardens like Facebook or Google capturing that data and selling it to marketers, individual consumers can decide where, when and with what companies they are willing to share their data.

Continue reading: https://www.forbes.com/sites/forbestechcouncil/2022/11/09/are-blockchain-wallets-the-killer-app-of-web3/?sh=692bb943d287

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