Tokens can do a lot of things, but AlphaWallet founder Victor Zhang thinks they can do more. His company has built a mobile wallet that supports traditional uses of Ethereum tokens, but they’ve also built a scripting engine that can take tokens and make them “smart.”
Victor Zhang, CEO of AlphaWallet:
“I hope the Web3 space focuses more on other benefits that can be introduced to users beyond privacy. I don’t think privacy will be a real selling point to normal consumers. But frictionless markets are real benefits that can be sold to normal users.”
The token economy is a major part of what drives Ethereum. We’ve seen tokenized versions of trading cards, shoes, and even sports contracts. We’ve also seen tokens developed to represent a stable currency. This has helped create the decentralized finance (DeFi) market. Tokens can do a lot of things, but AlphaWallet founder Victor Zhang thinks they can do more. His company has built a mobile wallet that supports traditional uses of Ethereum tokens, but they’ve also built a scripting engine that can take tokens and make them “smart.”
Founded in November of 2017, AlphaWallet offers both their mobile wallet and a scripting language that enhances the existing capabilities of smart contracts. TokenScript, as they put it, “makes tokens smart.” TokenScript extends the capabilities of tokens by integrating into the underlying smart contract and offering rich features that end users and developers can use in addition to simply paying for things and representing real-world assets. AlphaWallet has raised $2.3 million to help them achieve these goals.
We had the chance to talk with Victor about his experience in Web3. We discussed DeFi, blockchain, and building for businesses versus building for end users.
How do you define growth?
For us, we tried three different growth paths. This is because we deal with three parties: the mobile consumer, the developer, and the business. The businesses are the people who have the authority to tokenize the rights. When we started focusing on developers, we didn’t have much luck. When we focused on consumers, trying to use existing smart contracts and make them more user friendly, writing a TokenScript file, we also didn’t have a lot of success. The user base was too small. So in the middle of last year, we started focusing on businesses to help them tokenize the rights to things they have the authority to tokenize. By doing that, we create a b2b2c platform and their users become our users.
What has been the most difficult part of growing your company so far?
I think everyone in the industry is facing a similar issue. It’s the construct of blockchain technology itself. For blockchain, if I’m the only person using the technology, there’s no benefit. It requires the involvement of multiple parties and that makes it more difficult to grow a company. When we partnered with businesses, we realized there were built-in users there for us.
The main challenge for us is we cannot develop all the technology in one run. So, we have to gain market share while also continuing to build.
What do you think needs to happen to overcome these issues?
I think the best thing is focusing on the token itself rather than the dapps. Dapps just use tokens, so if you don’t have good value to tokenize, there won’t be useful applications. All we will be left with is crypto-native tokenized rights like cryptocurrencies themselves. We need to try to bring in more businesses that can tokenize rights and that will help grow the market.
What tools do you wish were there to help you grow?
Messaging is definitely a must-have tool. It’s high up on our technology wish list but we haven’t decided what protocol to use.
What are your predictions for Web3/Blockchain growth in 2020?
I hope the Web3 space focuses more on other benefits that can be introduced to users beyond privacy. I don’t think privacy will be a real selling point to normal consumers. But frictionless markets are real benefits that can be sold to normal users. For example, after you tokenize rights, each token can become an open API. This gives anyone the ability to integrate without going through a gatekeeper.
Do you think the average user will be interested in the additional benefits of tokens beyond privacy?
As a translator, I have observed that users are often more interested in the practical and convenient aspects of technology rather than just privacy. I agree with Victor Zhang that privacy may not be a significant selling point for normal consumers. However, the potential for frictionless markets and other benefits can definitely attract the attention of average users.
I hope the Web3 space focuses more on other benefits that can be introduced to users beyond privacy. I don’t think privacy will be a real selling point to normal consumers. But frictionless markets are real benefits that can be sold to normal users.
I hope the Web3 space focuses more on other benefits that can be introduced to users beyond privacy. I don’t think privacy will be a real selling point to normal consumers. But frictionless markets are real benefits that can be sold to normal users.
“I believe Victor Zhang has a valid point. Instead of solely focusing on privacy, the Web3 space should emphasize other benefits that regular users can appreciate, such as frictionless markets. This approach will have a better chance of attracting normal consumers.”
“I totally agree with Victor Zhang. Privacy may not be a strong selling point for normal consumers, but the concept of frictionless markets is something that can really attract them. It’s important for the Web3 space to focus on creating user-friendly experiences.”
“I completely agree with Victor Zhang. While privacy is important, normal users are more likely to be attracted to the convenience and efficiency of frictionless markets. The ability to seamlessly trade and utilize tokens is a major selling point for the Web3 space.”
I hope the Web3 space focuses more on other benefits that can be introduced to users beyond privacy. I don’t think privacy will be a real selling point to normal consumers. But frictionless markets are real benefits that can be sold to normal users.
I appreciate Victor Zhang’s perspective on the Web3 space. I agree that privacy may not be the main selling point for normal consumers, but the idea of frictionless markets is definitely appealing. It would be great if the token economy can bring more benefits to everyday users.
“I believe Victor Zhang is right. Privacy may not be a strong selling point to regular consumers, but the benefits of frictionless markets can definitely attract them. I think focusing on those benefits will drive more adoption in the Web3 space.”
Do you think the average user will be interested in the added benefits of tokens beyond privacy? Isn’t privacy a major concern for most people?
I believe the average user will be more interested in the added benefits of tokens beyond privacy. While privacy is important, I think there are other benefits that can be more appealing to normal consumers. Frictionless markets, for example, would be a real selling point for them.
Do you think privacy is not important for normal consumers? Can you explain why?
I believe privacy is indeed important for normal consumers, but it may not necessarily be the main selling point. While some users highly value privacy, the majority of normal consumers are more interested in frictionless markets and seamless user experiences. These benefits have a more significant impact on their everyday usage and adoption of tokenized technologies.
I hope the Web3 space focuses more on other benefits that can be introduced to users beyond privacy. I don’t think privacy will be a real selling point to normal consumers. But frictionless markets are real benefits that can be sold to normal users.
I agree with Victor Zhang. While privacy is important, focusing on other benefits and frictionless markets will have a stronger appeal to normal users in the Web3 space. Excited to see what AlphaWallet can do!
Do you think the mass market will be interested in the benefits beyond privacy that tokens can offer?
Yes, I agree with Victor Zhang. I don’t believe privacy will be a significant selling point to ordinary consumers. However, frictionless markets are real benefits that can be marketed to normal users.
I hope the Web3 space focuses more on other benefits that can be introduced to users beyond privacy. I don’t think privacy will be a real selling point to normal consumers. But frictionless markets are real benefits that can be sold to normal users.
I agree with Victor Zhang. Privacy may not be a real selling point to normal consumers, but frictionless markets are definitely something that can attract them. The token economy has the potential to revolutionize various industries and improve user experiences.
I hope the Web3 space focuses more on other benefits that can be introduced to users beyond privacy. I don’t think privacy will be a real selling point to normal consumers. But frictionless markets are real benefits that can be sold to normal users.
Does the scripting engine in AlphaWallet make tokens more secure and efficient?
Yes, the scripting engine in AlphaWallet not only makes tokens more secure but also significantly improves their efficiency. By enabling smart contract functionality, our scripting engine allows tokens to perform complex transactions and operations autonomously, eliminating the need for manual intervention and increasing the overall security of token interactions.
I hope the Web3 space focuses more on other benefits that can be introduced to users beyond privacy. I don’t think privacy will be a real selling point to normal consumers. But frictionless markets are real benefits that can be sold to normal users.
I hope the Web3 space focuses more on other benefits that can be introduced to users beyond privacy. I don’t think privacy will be a real selling point to normal consumers. But frictionless markets are real benefits that can be sold to normal users.
I hope the Web3 space focuses more on other benefits that can be introduced to users beyond privacy. I don’t think privacy will be a real selling point to normal consumers. But frictionless markets are real benefits that can be sold to normal users.
Do you believe that the focus on benefits other than privacy in the Web3 space will truly attract regular users? How do you envision making frictionless markets appealing to a wider audience?
I believe shifting the focus in the Web3 space towards other benefits, rather than solely on privacy, is crucial for attracting regular users. Privacy alone might not be convincing enough for the average user. Promoting frictionless markets as a real benefit that can simplify transactions and enhance user experience could potentially draw in a wider audience.
“I hope the Web3 space focuses more on other benefits that can be introduced to users beyond privacy. I don’t think privacy will be a real selling point to normal consumers. But frictionless markets are real benefits that can be sold to normal users.”
“I hope the Web3 space focuses more on other benefits that can be introduced to users beyond privacy. I don’t think privacy will be a real selling point to normal consumers. But frictionless markets are real benefits that can be sold to normal users.”
“I hope the Web3 space focuses more on other benefits that can be introduced to users beyond privacy. I don’t think privacy will be a real selling point to normal consumers. But frictionless markets are real benefits that can be sold to normal users.”
“I hope the Web3 space focuses more on other benefits that can be introduced to users beyond privacy. I don’t think privacy will be a real selling point to normal consumers. But frictionless markets are real benefits that can be sold to normal users.”
“I believe the potential for Web3 to offer additional benefits beyond privacy is essential. Privacy may not be a significant selling point for average consumers, but the convenience of frictionless markets can truly appeal to them.”
“I hope the Web3 space focuses more on other benefits that can be introduced to users beyond privacy. I don’t think privacy will be a real selling point to normal consumers. But frictionless markets are real benefits that can be sold to normal users.”
I hope the Web3 space focuses more on other benefits that can be introduced to users beyond privacy. I don’t think privacy will be a real selling point to normal consumers. But frictionless markets are real benefits that can be sold to normal users.
“I believe the Web3 space should prioritize exploring other advantages that can be introduced to users beyond privacy. I don’t see privacy as a significant selling point for regular consumers. However, seamless markets provide tangible benefits that appeal to everyday users.”
Do you believe the scripting engine can revolutionize token usage? How user-friendly is it for non-tech-savvy individuals?
I believe that the scripting engine developed by AlphaWallet could indeed revolutionize token usage. This technology has the potential to expand the functionality of tokens and bring added value to users. As for its user-friendliness for non-tech-savvy individuals, it is crucial to ensure a seamless and intuitive interface to encourage wider adoption beyond the tech-savvy audience. AlphaWallet’s focus on enhancing tokens to be more “smart” suggests a user-centric approach that aims to simplify complex processes for all users.
“I hope the Web3 space focuses more on other benefits that can be introduced to users beyond privacy. I don’t think privacy will be a real selling point to normal consumers. But frictionless markets are real benefits that can be sold to normal users.”
“I hope the Web3 space focuses more on other benefits that can be introduced to users beyond privacy. I don’t think privacy will be a real selling point to normal consumers. But frictionless markets are real benefits that can be sold to normal users.”
Do you believe the scripting engine in your wallet will revolutionize how people interact with tokens in the future?
I believe the scripting engine in our wallet will indeed revolutionize how people interact with tokens in the future. By enabling tokens to become “smart,” we aim to empower users with new functionalities and possibilities beyond what traditional tokens offer.
Isn’t it fascinating how Victor Zhang believes that tokens can have additional benefits beyond just privacy? Do you think traditional consumers will really be drawn to the idea of frictionless markets?
I believe Victor Zhang makes a valid point in emphasizing the potential benefits of tokens beyond privacy. Indeed, the appeal of frictionless markets could be a significant selling point for ordinary consumers. It’s essential to consider user-centric advantages when exploring the possibilities in the Web3 space.
“I hope the Web3 space focuses more on other benefits that can be introduced to users beyond privacy. I don’t think privacy will be a real selling point to normal consumers. But frictionless markets are real benefits that can be sold to normal users.”
“I hope the Web3 space focuses more on other benefits that can be introduced to users beyond privacy. I don’t think privacy will be a real selling point to normal consumers. But frictionless markets are real benefits that can be sold to normal users.”
Do you think smart tokens can revolutionize the way we interact with cryptocurrencies in everyday life?
“I believe smart tokens have the potential to significantly transform how we engage with cryptocurrencies in our daily routines. The innovative technology behind smart tokens opens up new possibilities for seamless transactions and enhanced utility, paving the way for a more user-friendly and efficient crypto experience.”
I believe Victor Zhang makes a compelling point about the future of tokens. While privacy is important, I agree that the real game-changer will be the ability to create frictionless markets. If we can make transactions smoother and more accessible for everyday users, the adoption of blockchain technology will skyrocket. It’s exciting to see where innovations like AlphaWallet can take us!
I’m really excited about what Victor Zhang and AlphaWallet are doing! The idea of making tokens “smart” opens up so many possibilities for users. I agree that focusing on frictionless markets is key; it’s all about making things easier for everyone. Privacy is important, but usability and convenience will really drive adoption. Looking forward to seeing how this evolves!
I completely agree with Victor Zhang’s perspective on the Web3 space. It’s true that while privacy is important, average users are more likely to be attracted by the smoothness of transactions and the new possibilities that smart tokens can offer. The focus should really shift towards how these technologies can simplify our lives.
I completely agree with Victor’s perspective on the future of tokens. The potential for creating frictionless markets is a game changer for everyday users. We need to move beyond just the privacy features and focus on real-world applications that can greatly enhance user experience and accessibility. It’s exciting to think about how much more can be achieved in the Web3 space!
I completely agree with Victor’s vision! The potential of tokens goes beyond just privacy; it’s about creating seamless experiences for users. The idea of frictionless markets is what will truly appeal to the average consumer. If we can make transactions easier and more intuitive, we’ll see a much wider adoption of these technologies.
I completely agree with Victor Zhang’s perspective on the Web3 space. While privacy is important, I believe that making the user experience seamless and showcasing real-world benefits will truly attract mainstream users. The potential of smart tokens is exciting, and building frictionless markets is the way to go!
I completely agree with Victor Zhang’s perspective on the token economy. It’s exciting to think about the potential of tokens extending beyond just privacy features. By highlighting frictionless markets, we can attract regular users who may not yet understand the full range of possibilities that Web3 can offer. It’s all about making the technology accessible and beneficial for everyday life!
I completely agree with Victor that we need to move beyond just the conversation around privacy. While it’s important, the potential for creating frictionless markets is what will truly resonate with everyday users. Making the experience seamless and beneficial is key to wider adoption of Web3 technologies.
I completely agree with Victor’s perspective on the token economy. While privacy is important, it’s the usability and practical applications that will attract everyday users to the Web3 space. Frictionless markets open up a whole new world of possibilities, and I’m excited to see how AlphaWallet continues to innovate in this area.
I’m really excited about the potential of AlphaWallet and how it can innovate the token space. Victor Zhang’s vision for smart tokens is groundbreaking! I agree that focusing on practical benefits like frictionless markets will attract more users. Privacy is important, but everyday consumers want solutions that make their lives easier. Can’t wait to see how this evolves!