The Web3 Wallet’s ‘Shopify’ Moment

TL;DR

• Coinbase just announced their ‘wallet as a service’ developer tool.

• It’s a tool that allows developers to add custom branded Web3 wallets to their apps, that are stupidly simple for customers to set up/use.

• Coinbase have said “The goal is to make setting up a wallet as easy as creating a username and password”.

Full Story

“The goal is to make setting up a wallet as easy as creating a username and password”.

We’re not ashamed to admit it, we teared up a little reading that.

So what exactly turned on the waterworks?

Coinbase just announced their ‘wallet as a service’ developer tool.

Basically, it’s a tool that allows developers to add custom branded Web3 wallets to their apps, that are stupidly simple for customers to set up/use.

No 12 word seed phrase – just a username and password.

Coinbase’s Patrick McGregor told Decrypt:

“It’s basically eliminating this huge source of friction for getting Web3 adopted,

Effectively, we’ve created a system to give wallets to literally every human on the planet.”

You can almost think of this as the ‘Shopify Checkout’ moment, for wallets.

Shopify’s checkout feature allowed site owners to add a checkout to their existing website.

No having to rebuild everything using a Shopify website template, no redirecting backlinks, no changing their backend provider…

Just the same old systems they were used to, now with an embedded checkout.

It’s a beautiful thing.