What does Coinbase Wallet’s latest DM feature mean for the ecosystem?

Date:

Share post:


Crypto exchange Coinbase has launched a direct messaging feature on its wallet app, negating the need to copy-paste 42-character wallet addresses to and from other messaging platforms to send or receive digital assets, the company exclusively told TechCrunch+.

The feature also lets NFT and POAP holders connect with others who own the same asset by directly messaging their address.

All messaging is encrypted, Coinbase says, and is powered by XMTP, the open-source messaging network. The inbox is also portable, meaning that messages, interactions, transactions and profiles can be transferred to platforms that are compatible with the network.

But that’s just the news. What is this new feature really good for and how will people use it? We had a few thoughts:

Jacquelyn Melinek: Alex, you’ve been covering crypto for more than a decade now. What does this news mean to you?

Alex Wilhelm: I find it pretty bullish! One complaint that I have had with crypto in general is that it has long felt too financial. As someone who doesn’t really love spending time doing accounts, I have never really wanted an entirely new way to make my life more accounting-based.

I have to say, though, that adding messaging to wallets seems to transform them into something far more? So much so that calling them wallets seems like a bit of a misnomer. Perhaps we should call them identities?

Regardless, I am very curious to know if this is a feature that the crypto community writ large has been asking for or working towards. From my limited vantage point as someone who spends more time in meetings than breathing, it’s de novo!

Jacquelyn: I think this feature isn’t necessarily something that has been asked for, but it would be helpful. Kind of like when I order takeout, I don’t always think to get cutlery (it’s not always necessary), but when I do, I’m like, “Great! A fork! I don’t have to do dishes!”



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related articles

French billionaire Xavier Niel pledges to invest up to $210 million in AI

Xavier Niel, the founder, CEO and majority shareholder of telecom company Iliad, has announced several new projects...

Gringo’s super app for Brazilian drivers adds insurance, financing with $30M Series C

Brazil has over 75 million drivers, and Gringo wants to be the super app support for all...

Resourcify, a platform to digitize waste management, raises €14M

Resourcify, a waste management and recycling platform, today announced that it raised €14 million ~($14.94 million) in...

Akamai launches new cloud computing regions in Asia, Europe and the Americas

Akamai today announced a major expansion of its cloud computing presence around the world. While you might still...