Cryptocurrency is set to go mainstream with the release of a wallet tied to WhatsApp – the most popular messaging app in the world.
Wuabit is a cryptocurrency wallet accessible via a chat interface in WhatsApp.
The developers describe it as a ‘software agent’ powered by specialised AI. Users simply type in commands like ‘send 0.05BTC to Vera’ and Wuabit will send the cash.
By using a service as popular as WhatsApp, Wuabit hopes to propel crypto payments further into the mainstream.
A spokesman told the Express: “We have nearly completed the wallet core service starting with BTC.
“By using WhatsApp/SMS/Telegram you can access that wallet easily.
“Crypto payments via WhatsApp can introduce greater numbers of new users who only know how to chat to this complicated space.
“Usability is key in user adoption and a great enabler.”
Beta incoming
The public beta is due to start next month.
Mainstream use of cryptocurrencies like Bitcoin is growing, but many experts say a lack of understanding among the public is hampering adoption.
This article explores what factors are stopping people using crypto – which is a secure and speedy way to move cash around.
Mass adoption will be helped by news that an upcoming Samsung smartphone will feature a built-in cryptocurrency wallet, as well as rumours social media giant Facebook is creating its own coin.
A form of digital money, cryptocurrency uses encryption to secure transactions and control the creation of new units.
The digital cash uses cryptography, a form of secret coding originating from the Second World War, to process transactions securely.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.