- Eowyn Chen took part in the online marathon from Incrypted.
- She talked about why industry acceptance is growing during a crisis.
- And how the threshold for entering the segment can be made much lower.
Online crypto marathon from Incrypted continues. The next speaker is Trust Wallet CEO Eowyn Chen. She talked to our community about how to lower the Web3 entry threshold and accelerate the mainstream adoption of cryptocurrency through accessibility and usability.
Trust Wallet is perhaps the most popular cryptocurrency wallet. Incrypted has a guide for this project, we recommend that you read it. Also, Trust Wallet analysts are involved in the fight against cybercrime and promote security measures in the cryptocurrency community.
At the beginning of the speech, Eowyn noted that the service has “Ukrainian roots”. This is the pride of the Trust Wallet team. She also thanked the community for supporting the project.
Cryptocurrency is an “island of calm” during significant shocks
Here Eowyn appeals to the concept of “antifragility”. It was introduced by the philosopher Nassim Taleb. Briefly, the concept of this movement can be described as follows – the ability to confront the unknown.
Eowyn refers to the “anti-fragile” concept of cryptocurrency due to a number of factors:
- market resilience under growing pressure;
- cryptocurrency unites market participants into one community;
- it is able to develop in an aggressive external environment. An example is the war in Ukraine.
“Web3 gives people freedom, but there is a nuance”
These are barriers to mass-adoption. One of them is the issue of data security. Eowyn referred to the Atomic Wallet hack, noting that custodial service providers are required to keep safeguards up to date.
The CEO of Trust Wallet considers the human factor to be the main problem in this matter. As an example, she cited statistics on ragpools in May, emphasizing that the organizers of such schemes know how to “play” on the emotions of traders.
T.W. Security Scanner
This is the tool the service team is currently working on. The scanner allows you to monitor and notify the user about “red flags”, suspicious projects.
Also, the tool will receive the function of “transaction simulation”. It is intended to inform the user of possible potential damage. The application supports EIP-6865.
Eowyn also singled out the factor of “accessibility” among the barriers to mass-adoption. To overcome it, Trust Wallet will add support for the Binance P2P platform, which is designed to simplify mutual settlements.
Another feature that the Trust Wallet team is planning to introduce in the near future. This is a tool through which beginners can “offer” a seed phrase to a provider if they have doubts about the security of their device or connection.