Multi-Chain Wallet

Welcome again and hope you have a better understanding about Web3.? And I anticipate that identity information, assets, certificates, etc., will be digitized, and wallets capable of storing such digitized information will play the most crucial role in mass adoption.

As I mentioned earlier, we are moving from Web1 (Phase 1) to Web2 (Phase 2), and Web3, and key element is decentralization, and blockchain will play key technology to reach this objective. However, as you could see in below image in Phase 3, there are many blockchain networks, which means each of you needs to have separate wallet in each network to store digitized information. Imagine you are using blockchain services in 10 different mainnet, and it means you have to manage 10 wallets which is not user friendly approach and no one would bother to use it (I would as it is too complicated to manage all wallets).

I cannot predict how many new blockchain networks (mainnet) will be introduced down the road and how many existing networks will be disappeared. But considering the blockchain fundamental philosophy, which is decentralization, we are well aware that a few major networks would not dominate the entire Web3 markets. In other words, in the Web3 environment, existence of various blockchain mainnet based on the free discretion of users or service providers will offer blockchain services.

For mass adoption of Web3 in the real world, a wallet, which serves as the entry point for using all services, needs to lower the entry barrier so that even my grandparents can use the service without a learning curve. As you could see in above diagram, a single wallet that supports multiple networks and their services is the right approach to pursue. That’s why multi-chain wallets like D’CENT and Wepin will play a key role in mass adoption. Of course, not only supporting multi chains and services, but also offering an intuitive user experience without compromising any security concerns, is an ongoing effort that IoTrust has focused on since our foundation.

Thank you for reading.