Digital Wallets of the Future

Digital Wallets
The new multi-platform digital wallet of the future is expanding privacy and convenience. It is an encrypted multi-use wallet that is altering the way people shop and manage their lives. Generally speaking, digital wallets of previous generation are capable of holding much more content than conventional ones often tucked away in a purse or back pocket. The digital wallet is, in fact, an application that connects to the internet and is capable of storing digital items like concert tickets, shipping info, bank records, gift cards, a digital certificate that identifies the user, and much more.

Large tech companies, like Apple and Google, have their own form of digital wallets in the marketplace today that work through apps on a smartphone. However, a majority of these types of wallets reside on a personal computer and generally do not integrate well with competitors. With the addition of the emerging crypto-technology markets, digital wallets are getting a face-lift. More than that, digital wallets are expanding their scope of reach where people from any country can hold assets, coins, and even share and trade across multiple platforms in real-time.

Take, for example, the VPNcoin wallet, a new addition to the SuperNet offerings. The new VPNcoin wallet offers virtual private network services in places where internet restrictions are prevalent. It also has the ability to break through network restrictions and reduce network delay. Also, VPNcoin gives users a way of earning tokens by acting as a server. These tokens can then be redeemed later when acting as a client for a wanted service.

Further, with crypto-technology making its debut across multiple integrated platforms (like the integration of SuperNet with Nxt), the newer decentralized, peer-to-peer multi-platform digital wallets of the future go beyond today’s current understanding. They allow users to have a marketplace of options like instant messaging (similar to Google and Skype), group messaging (similar to IRC), community forums, and asset exchanges (like a decentralized stock market). It is even possible to create crypto-coins for creative offerings. To some, this may sound far out. However, mass adoption may be closer than people realize.

While big corporations are vying for greater market share of the new multi-platform digital wallet revolution, the centralized single source competitive business model still being used by big corporations is part of the reason the digital wallet revolution has been slow to catch on. Open source collaboration, with innovations like free peer production, based on proof-of-stake methodology, benefits the general public. The key features of the new crypto-tech are the encrypted peer-to-peer decentralized transfer of the information being distributed. This opens up a wave of potential that could replace just about anything that can be done on the central internet today. The new crypto-technology is relying on the expansion of peer-to-peer networks.

Until now, it has not been easy for the non-technical person to have a quick and simple install or set up of crypto technology. Previously, a fairly good degree of technical know-how was needed to understand the prompts that would initiate a decentralized encrypted digital wallet. Luckily programs like SuperNet and Nxt are changing the game. An idea like the Nxt digital wallets of the future that is tied in with SuperNet (a constantly evolving open source multi-use platform) is a perfect storm of technology and collaboration paving the way for mass adoption and super convenience.

By CryptoMama

Sources:

NYTimes

How Stuff Works

SuperNet

Gates Notes

Photo By Nora Ligorano – Flickr License

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