Wuabit to Offer a Crypto Wallet on WhatsApp

In an attempt to bring crypto closer to a mainstream audience, Wuabit is developing a digital asset wallet for using cryptocurrencies within WhatsApp.

The solution of the England-based firm will allow WhatsApp users to receive, send, trade, and also perform other digital asset related functions within the chat interface.

According to a report by the UK daily The Express, the first stage of development, which includes Bitcoin support for WhatsApp, is almost complete.

“We are near completing the wallet core service starting with BTC,” a spokesperson of the company told the daily.

The report also revealed that Wuabit is planning to release the public beta of the application next month.

Tapping the Lucrative User Base of Messaging Platforms

WhatsApp is the most popular chat app in most developing countries, whereas in developed countries it is the second in line behind its sister platform Messenger. If implemented properly, Wuabit can gain a massive user base in a short period, leveraging the platform’s existing users.

“Crypto Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term via WhatsApp can introduce greater numbers of new users who only know how to chat to this complicated space,” the spokesperson added. “Usability is key in user adoption and a great enabler.”

The Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term-based company also has plans to introduce its service across other messaging platforms including Messenger, Telegram and Viber.

The integration will follow at good pace, first Telegram & SMS then FBM etc..

— Wuabit (@Wuabit) March 26, 2019

Along with cross-platform support, Wuabit is also planning to integrate support for other major digital currencies like Litecoin, Bitcoin Cash, and Ether.

Big Techs Adopting Crypto

Facebook is also working on the development of its native digital coin which can be used across all platforms owned by the social media giant - Messenger, WhatsApp, and Instagram - Finance Magnates reported earlier. Other popular messaging services including Telegram and KakaoTalk also jumped on the crypto bandwagon to introduce blockchain-based currencies on their platform.