- Eowyn Chen participated in an online marathon from Incrypted.
- She talked about why industry adoption is growing in times of crisis.
- And how the threshold for entering the segment can be made much lower.
The Incrypted online crypto marathon continues. The next speaker is Trust Wallet CEO Eowyn Chen. She spoke to our community about how to lower the entry threshold into Web3 and accelerate mass adoption of cryptocurrency through accessibility and ease of use.
Trust Wallet is arguably the most popular cryptocurrency wallet. Incrypted has a guide on this project, we recommend reading it. Trust Wallet analysts are also involved in fighting cybercrime and promoting security measures in the cryptocurrency community.
In the beginning of the speech, Eowyn noted that the service has “Ukrainian roots.”. This is a source of pride for the Trust Wallet team. She also thanked the community for supporting the project.
Cryptocurrency is an “island of calm” in the face of great upheaval
Eowyn refers here to the notion of “anti-fragility.. It was introduced by the philosopher Nassim Taleb.
Eovin describes the movement briefly as resisting the unknown.
Eovin describes cryptocurrency as “anti-fragile” because of a number of factors:
- Market resilience under growing pressure
- Cryptocurrency unites market participants into a community;
- It can grow 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 providers have an obligation to keep security measures up to date.
The main problem on this issue, the CEO of Trust Wallet believes, is the human factor.. As an example, she cited statistics on ragpolls in May, stressing that the organizers of such schemes know how to “play” on traders’ emotions.. The scanner allows you to track and notify the user about “red flags” and suspicious projects.. It is intended to inform the user of the possible potential damage. The app supports EIP-6865.
Eovin also highlighted the “availability” factor among the barriers to mass-adoption. To overcome this, Trust Wallet will add support for the Binance P2P platform to simplify settlement.. This is a tool by which newcomers can “reassign” a seed phrase to a vendor if they have doubts about the security of their device or connection.
It is a tool by which newcomers can “reassign” a seed phrase to a vendor if they doubt the safety of their device or connection.