Crypto wallets will evolve into ‘filing cabinets’ by 2030 — Crypto exec

According to Reown CEO Jess Hougraves, crypto wallets could transition into “digital filing cabinets” for holding university credentials, medical records, and more in as little as six years.
According to Reown CEO Jess Hougraves, crypto wallets could transition into “digital filing cabinets” for holding university credentials, medical records, and more in as little as six years.

The term “crypto wallet” may disappear within the next six years, as users will begin to rely on the technology for much more than just storing cryptocurrency, according to Jess Houlgrave, CEO of the onchain user experience platform Reown.

Speaking to Cointelegraph at Token2049 in Singapore, Houlgrave said she believes that crypto wallets will evolve into more of a “life hub” by 2030. When asked how she visualizes that in more detail, she compared it to “digital filing cabinets,” where different parts of a user’s life — like medical records, education credentials and tickets — will be securely stored and managed.

Houlgrave says it will be a “collection of wallets”

While she acknowledged that some users may remain skeptical of connecting so much of their lives to a digital wallet, she believes the systems will become far more secure, making it much harder for sensitive information to be swiped like cryptocurrency has in recent times.

“It’s going to be a hub of a collection of wallets and accounts that can interact with each other, share details with one another and manage policies for each other,” Houlgrave explained.

Houlgrave said that the hub’s security will become more customizable, allowing users to control which wallets can interact with other domains.

She added that users may take a hyper-secure approach to some aspects of their “hub” where they only allow it to “interact with very specific whitelisted domains.”

Security remains a strong concern for wallet holders

“Some people in crypto might go that’s not the choice that we’re supposed to have, but actually, that’s a really valid position in the market for a niche of people who want security,” she said.

Related: Consensys acquires Wallet Guard to enhance MetaMask security

Security remains a top concern for wallet holders, but according to Ledger chief experience officer Ian Rogers, as technology to combat hackers becomes more sophisticated, it may not reduce incidents year-on-year as people hope.

Speaking to Cointelegraph at Token2049, Rogers pointed out the broader trend appearing as cybercrime occurrence increases globally and claimed that the frequency and complexity of digital attacks will increase.

“You’ll be able to say this year was the worst year for cybercrime every year for the rest of your life and be accurate,” Rogers said.

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