What is a cryptocurrency wallet?
To make transactions in cryptocurrency, you need to set up a so-called cryptocurrency wallet – with eng. “crypto wallet” (you can do it here for example). Its primary function is to store your unique “key” for cryptocurrency transactions. But this is just the beginning of the dynamic development of this solution. Ultimately, our cryptocurrency wallet is to be the main functionality in verifying your ownership of both digital and physical goods – and even confirm our own identity. It is said to replace the current solutions in this area.
Why is it important for your business?
Please note that currently, in order to use various services on the Internet, you need to verify or confirm your identity. One of the solutions you use include “log in via …” – a function provided by big players such as Facebook, Apple, Google, TikTok or Linkedin. Of course, in return, you provide these companies, more or less consciously, with your private data and information about your activities. This is what most consumers do. Often, to make our life easier, we give up our privacy, giving control of our data to large companies. Thanks to this, they can now sell brands access to the consumer’s and himself’s data for a lot of money. Well, but you already know it, it’s our everyday life.
How will the relationship with the consumer change?
And how about a world where you get the opportunity to fight for the customer’s attention and interact directly with him, where you do not have to use intermediaries such as the aforementioned Facebook or TikTok? When a person’s cryptocurrency wallet becomes the primary form of authentication of their identity – your company and other brands will no longer need external solutions (e.g. those from social media companies). This opens up a new path to a direct and “verified” relationship with customers.
🔔The cryptocurrency portfolio is indicated as one of the key foundations for building new forms of consumer engagement. The others include NFT and metaverse. If you skip a deeper understanding of this knowledge – you run the risk of losing your business.
See the latest news about how (and why) brands invest in metaverse.
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