Toward a Universal Digital Wallet

Report Overview

Author: Don Tapscott
Release Date: November 13, 2020

Abstract:

For cryptocurrencies and other blockchain technologies to scale in adoption as the Internet did, people need more human-friendly ways to use them. We believe that the digital wallet is one such way. Digital wallets are pieces of software that hold digital things of value for us, such as money, ID cards, and documents such as receipts. They enable us to make payments, prove our identities, record and verify our actions and transactions, and aggregrate and manage our cryptoassets such bitcoin, ether, or derivatives of cryptocurrencies. Eventually, we expect them to capture and protect our Internet browsing, online shopping, and other streams of data for us, to own and license as we choose. This research explores the state of the digital wallet, provides a taxonomy for analysis, poses three scenarios for the future, and suggests what enterprise leaders might do to prepare for wallet-driven business opportunities.

Related Content

Decentralized Finance Analysis

In this project, our research leaders develop a method of formal analysis of the value of decentralized finance (DeFi) initiatives. Inspired by Vitalik Buterin’s writings on the intrinsic worth of projects in the crypto economy—that they must solve legitimate human problems on a macro scale—our researchers mirror the approach of Benjamin Graham and David Dodd in Security Analysis. For several different applications within the DeFi space, they identify the business metrics as well as the financial and social key performance indicators (e.g., staking yield, fees generated) that will help investors distill signals from the noise—that is, the inherently valuable projects from what Graham and Dodd protégé Warren Buffett called “rat poison.” Although this research is by no means as detailed as Security Analysis, we think it will “shake readers from the memetic psychosis that has propagated crypto booms and busts over the past decade,” to quote the authors.

Read More

Non-Fungible Tokens – Part II: An Enterprise View of Programmable Digital Assets

In recent months, popularity of non-fungible tokens has soared again, at a new level of maturity in tools, infrastructure, and proven use cases. These advances have catalyzed the interest of enterprise leaders seeking to understand the value of NFTs in their businesses. This project focuses on what companies should know about this fledgling industry for unique digital assets. NFTs present opportunities to tokenize intellectual property, reputation, conversations, tangible assets, and new ways to engage customers, employees, and communities. From social media and online gaming to enterprise software and physical goods, organizations should find use cases worth pursuing.

Read More
Blockchain Research Institute™ Europe