A widely followed crypto analyst says that smartphones could onboard huge waves of new users to the world of digital assets.
In a new video update, the host of InvestAnswers says that simplified mobile crypto wallets could be what causes the public to embrace virtual assets.
“If you can simplify the wallet, you can change the game, and this is where [Solana co-creator Anatoly Yakovenko] comes in. The big plan for the solution for mass adoption of crypto is a wallet integrated in a smartphone, and that could help with global economic freedom.
In fact, Anatoly said, ‘What does it look like with one billion people using crypto? What do you imagine? It’s in this device, the device that you use everyday. The phone has to be your hardware wallet. That’s just something that we always felt.’”
The analyst says mobile phones already have all the attributes necessary to support crypto wallets for the masses, including built-in security features.
“Why the phone? What’s so special about the phone? Why not just a laptop or the internet? Well, more people have phones than anything else. And also, with a wallet in the phone, it’s better, cheaper, faster. It’s also fully authenticated because there’s a ton of features within a smartphone that are very important…
Fingerprints and retina scans and all that type of stuff which is becoming key and critical. That will give users much more confidence with transacting and crypto going forward.”
In June, Solana Mobile, a subsidiary of Solana Labs, introduced a Web3-enabled smartphone called Saga. Around the same time, Yakovenko said the mobile phone’s goal was to make transacting and managing crypto assets “as amazing as using Apple Pay.”
