Bitcoin has undoubtedly had a significant impact on the cryptocurrency industry. It not only kick-started the entire industry but also drove the establishment of an alternative financial system.
Its substantial market value speaks for itself. Additionally, Bitcoin has been making waves in areas like NFTs on the blockchain and programmability, capturing the attention of many.
As a result of these ongoing developments, managing Bitcoin assets across multiple platforms has become a challenge for users. This challenge prompted Wallby to take action and develop an innovative wallet management system.
This system aims to assist users in ensuring the security of their Bitcoin holdings across various platforms. Alessandro Olivo, the BDO and Head of Product at Wallby, shared insights about this exciting development during the Bitcoin Amsterdam event.
Why Wallby
From the start, Alessandro made it clear that Wallby is fully dedicated to Bitcoin and its ecosystem. With a background in Bitcoin dating back to 2013 as a researcher and educator, he expressed his strong commitment to spreading awareness and knowledge about Bitcoin.
He explained that Wallby is a unique project with two key concepts: it serves as an all-in-one wallet for Bitcoin and aims to become a super app for Bitcoin.
Wallby’s all-in-one wallet enables users to manage various assets from different Bitcoin-based networks, such as Bitcoin’s main chain, Liquid Network, and the Ethereum Virtual Machine (EVM) on Rootstock.
Additionally, Wallby has plans to support the Lightning Network in the future, showcasing their dedication to Bitcoin scalability solutions.
The development of Wallby
He shed light on the birthplace of the project at BeCademy, a company focused on Bitcoin education and services.
However, due to the absence of a comprehensive Bitcoin wallet solution, Wallby came into existence. The project has been shaped by experienced individuals deeply involved in the Bitcoin community.
Furthermore, he revealed that Wallby is exclusively financed by its founders, which demonstrates their unwavering dedication to both Bitcoin and the success of their product.
By forging strong alliances and fostering collaboration with prominent figures in the Bitcoin realm, such as Blockstream, and IOV Labs, Wallby sets itself up for a future brimming with potential.
The development phase of Wallby has spanned approximately eight months, culminating in the open beta release for Android in July 2023.
Features and future plans
Moreover, according to the BDO, Wallby offers users a unique feature: “full visualization of NFTs on the Liquid Network,” which is uncommon for a mobile web3 wallet. Additionally, users can perform various actions on Wallby, including swaps, providing liquidity, and earning a return on their provided liquidity.
Furthermore, the audience was informed that the full version of the wallet would be released within 12 months. This release aims to simplify the process of moving bitcoins from the main chain to Layer One and Layer Twos.
Although Wallby is already available on Android, the team is working to launch the iOS version. Wallby is also keen on integrating with Boltz, a solution that enables users to move funds across Bitcoin, RSK, Liquid, and the Lightning Network using the Lightning Network.
Additional developments encompass the incorporation of a Fiat Gateway, enabling users to effortlessly shift between conventional fiat currencies and cryptocurrencies.
Furthermore, there are plans to create a comprehensive “super app” that provides a diverse array of Bitcoin-based products and services, along with the integration of a complete DeFi suite on the Bitcoin platform.
