Brian Friel, Developer Relations at Phantom, shared at Breakpoint 2022 by Solana that the browser war in Web2 shows that user experience is the most important element for browsers. People always want to connect with the products they use.
Maximilian von Wallenberg, co-founder and CEO of Ultimate also agreed with Brian by saying that in Web3, people will choose a wallet based on what they want to do. However, these users will want to take their data to any platform they deem fit, which is different from what browsers like Chrome support.
While browsers were used for accessing the internet Web2, wallets will do so much more than help access the internet, Filip Dragoslavic, co-founder of Solflare, explained. Wallets are the “gateway” to the world of crypto and will become more important as users trust them more.
One wallet or multiple?
Max added that the focus of Ultimate is to make it easier for users to access the Web3 world using wallets. A wallet is a “digital friend to explore the digital economy,” Brian said.
When Sarah Kopit, Editor at The Block, asked if there would be one wallet in the future, Brian explained that there would be a lot of experimentation along the way. Filip also answered that the presence or absence of one wallet would be determined by the number of blockchains that will be relevant in the future; thus, multichain wallets will be the order of the day.
Regulations and the future of wallets
Victor Pontis, the co-founder of Glow, shared that the regulation of wallets will be affected most by digital stores like App stores and Google Play Store. Their restrictions and permissions will affect how wallets will operate. Filip added that users would control the evolution of how wallets will be developed and used too.
For the future, Brian said that the focus would be on helping devs create better products that are user driven. Cross-collaboration between Web2 and Web3 ecosystems will enhance adoption and development, Filip explained.