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The Foundation for Interwallet Operability and the FIO Protocol, a new protocol that seeks to remove the complexity, risk, and inconvenience of moving coins and tokens recently announced a new member. The Trust Wallet has joined the foundation today. This is the official crypto wallet of the Binance exchange.
The Trust Wallet is a popular mobile wallet and DApp browser. It joins KeepKey, ShapeShift.io, BRD.com, Mycelium, Coinomi, and Edge. It reinforces the growing focus in the blockchain world to solve issues of usability in order to aid the mass adoption of crypto.
How This is Beneficial
By bringing together leading wallets in the crypto sector, FIO Protocol hopes to transform the wallet usability. It also hopes to make it easier to use exchanges and make payments. This will be made possible via an open-source, decentralized, and self-sovereign blockchain protocol that will offer an enhanced connectivity layer. It will also offer extra features for usability, which will make crypto payment on blockchains easy. The aim is to achieve the same ease of use as mainstream payment processors such as Venmo and PayPal. As a result, this will lead to mass adoption of crypto.
The FIO Protocol
This protocol will not just create human-readable wallet addresses, which work across all tokens and coins. It will also allow improved workflow. This will include the ability to send payment requests across wallets. The request can be denied or confirmed, which will eliminate various errors that occur when sending funds. This protocol is a blockchain, which sits alongside the other chains. It will enable a wide array of features. The features will include ease of refunds, subscription payment models, secure routing, and much more.
What the Experts Had to Say
David Gold, the CEO of Dapix and the man behind the FIO protocol said that this would be the year of making interoperability a reality. As a result, it will make it possible for crypto and the blockchain to fulfill their vision to the masses. In short, it is a huge step in making the use of crypto for ordinary transactions possible.
He added that the FIO protocol was happy that Trust Wallet had joined them. Gold was positive that the entire foundation is going to benefit from the talent and experience that the wallet brings to the table. The Dapix CEO said that the foundation had a firm belief in getting rid of risk, complexity, and inconvenience from the crypto world when it comes to receiving or sending funds. They have a belief that this is what will help crypto reach its full potential.
The Trust Wallet CEO also had something positive to say. He said that this was a great opportunity for the Trust Wallet to deal with the issue of interoperability. He believes that this is one of the main issues, which are preventing mass adoption of crypto. Viktor Radchenko concluded by saying that they were happy to work with FIO, which had a similar vision of mass adoption as them.
Disclaimer
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