Vault Wallet Pushes Importance of User Experience for Mainstream Adoption of Blockchain
Original Post here.
Even the most vocal fans of blockchain-based applications will admit that, 9 years after the introduction of Bitcoin to the world, it’s still difficult to set up cryptocurrency wallets where coins and tokens can be stored. We have yet to see digital wallets (supporting cryptocurrency payments) which are as easy to use as credit cards, PayPal or other digital money exchanges.
With over 70 wallets in existence, it’s overwhelming for even the savviest consumer to figure out which wallet to choose and how to set it up.
As is the case with many new technologies, the User Experience, or UX, may only be implemented after several years for second and third generation adopters. As Apple and other great brands have taught us – how humans interact with technologies should be at the forefront of development.
If the UX is no good, we simply won’t achieve significant adoption.
Whether consumers are trading Bitcoin (BTC), Ethereum (ETH) or Ripple (XRP) (amongst many others), they need to find a way to make sense of it all and secure it. This is especially important considering the extensive fraud and thefts in the cryptocurrency space.
This week, a Texas-based start-up, Vault Wallet, announced a strategic investment from Bicameral Ventures (a cryptocurrency investment firm), to launch their crypyo wallet, partner with paylight energy and integrate the AION Coin.
Let’s break down what’s happening with Vault Wallet.
Bicameral is a venture capital fund focused on finding and funding the top blockchain projects. As part of the transaction, Bicameral, will be joining the Vault Wallet board of advisors
Paylight, whose audacious goal is to become the preferred payment platform of energy companies, will use Vault’s “user-friendly, mobile first interface to allow their customers to seamlessly pay bills, manage contacts and transact in Paylight tokens.”
Lastly, Bicameral invests in projects leveraging the Aion Networks interoperable blockchain platform and to this end, Vault Wallet has also announced the Beta launch of an integration of Ethereum, the AION Coin, and future support of the Aion Token Standard, tokens (similar to Ethereum’s ERC-20 token standard) into the suite of products supported within its platform.
“Aion’s interoperability is essential to bridge the gaps in scalability and inter-chain communication” said Daniel Arulraj, CEO of Vault Wallet. “Our team at Vault is thrilled to support the Aion Foundation to accelerate infrastructure development.”
Vault is engaged in discussions with several other Bicameral portfolio projects including ClanPlay, a social gaming platform with over 2 million users. Vault’s unique ability to enable exceptional user experiences embedded natively within its innovative decentralized application was the primary driver of Bicameral’s investment in the project.
“As an investor in a diversified portfolio of blockchain projects across industry verticals, Vault’s ability to be a plug-in solution to consistently solve one of our portfolio companies’ most pressing pain points was a huge motivator for us as it allows us to realize tangible synergies within our portfolio” said Alex McDougall, CIO of Bicameral Ventures. “Further we believe that Vault’s long-term vision of being a complete digital identity and asset storage and transaction solution is a key component to unlocking the real potential of blockchain enabled platforms.”
Paylight aligned with Vault, as they recognize that Vault’s solution allows them to focus on their core business services while Vault provides expertise, enterprise grade security, and plug-n-payment solutions. Bicameral also noted that this ease of use, was excellent in incenting adoption amongst potential future business clients.
“We are extremely excited to be working with these partners in laying the foundation for scalable decentralized applications and future thinking services.” said Corey Segall, President of Vault Wallet.
Arti Loftus is an experienced Information Technology specialist with a demonstrated history of working in the research, writing, and editing industry with many published articles under her belt.