A brand new cryptocurrency wallet on WhatsApp is set for release as early as next month if reports are to be believed.
In a move aimed at bolstering the widespread adoption of digital assets, Wuabit is launching a cryptocurrency wallet tied to WhatsApp. The wallet will reportedly be accessible to about 1.5 billion WhatsApp users via a chat interface. Direct access to crypto-related services will enable people to send and receive cryptocurrency payments.
If true, this should help virtual assets to go mainstream with one of the world’s most popular messaging apps.
When Blockchain Meets Instant Messaging Services
Wuabit is positioning itself as a project aiming at allowing the general public to easily access innovative blockchain services right from the familiar chat app.
On its official website, it promises that chatting with a Wuabit assistant will be “as easy as you chat with a friend.” Users would just type chat commands asking the assistant to perform necessary payments, and Wuabit will carry them out.
The developers describe their service as a software agent powered by specialized artificial intelligence and stress that its usability will be key in user adoption. The company plans to launch the public Beta version of the WhatsApp wallet as soon as next month. As Wuabit’s spokesperson commented to the tabloid media outlet Express.co.uk that the company is “near completing the wallet core service starting with [Bitcoin] BTC.”
According to Wuabit, it will add more functionality to its product in the future — like price checking and trading options. It also plans to provide support for other crypto assets, including Litecoin (LTC), Bitcoin Cash (BCH), and Ethereum (ETH). What is more, the company claims it will extend its service to other popular instant messaging platforms, such as Telegram, Facebook Messenger, and Viber.
It’s All For Better Public Awareness
Wuabit first announced the upcoming WhatsApp wallet in September 2018. As the company’s founder and CTO, Manuel Polo, explained, “it’s a matter of network effect.” He said the company had chosen WhatsApp as the world’s most ubiquitous chat platform, with the user base currently amounting to about 1.5 billion. Importantly, it may dramatically increase in the near future if Facebook merges its three messaging platforms — WhatsApp, Instagram, and Facebook Messenger — in early 2020.
The general problem now is that, although more and more people get to know about cryptocurrencies, they still don’t widely use them. The team behind Wuabit believes that cryptocurrency services within familiar traditional applications might encourage people to try it. The company hopes this will convince many more new users that crypto payments are a secure and fast way to move value across the world.
As a result, this move will help promote cryptocurrency mass adoption.
The Steady March to Cryptocurrency Mass Adoption
Notably, there have been a number of similar positive signs lately.
Recently, Tippin launched a new Chrome and Firefox extension that allows users to send and receive Bitcoin (BTC) micropayments on Twitter via the Lightning Network.
Furthermore, Samsung recently announced that its Galaxy S10 series, the flagship lineup for 2019, will come with a built-in private storage solution for blockchain-based assets.
Do you believe that the world’s most popular messaging apps, with their vast user bases, are able to encourage cryptocurrency mass adoption? Let us know your thoughts in the comments below!