Benzinga - Wallet solutions are the cornerstone of Web 3 space. Yet, just like physical wallets evolved over time, digital wallets need to innovate and keep up with the ever-evolving digital landscape.
To find out about recent trends, Benzinga's Editorial Director Of Events Lisa Granatstein interviewed Keith Grossman, president of MoonPay at Benzinga's Future of Digital Assets, today in New York City.
Initially, MoonPay enabled users to conduct simple crypto transactions using debit and credit cards but eventually grew into a provider of crypto infrastructure and started providing seamless on-ramp and off-ramp solutions.
This evolution is most notable through partnerships with household brands such as Mastercard.
"For the past 11 months we have been just heads down, building," Grossman said, emphasizing the company wants to strengthen its position before the market rebounds.
Talking about wallets, Grossman noted they're essential to the digital economy but also clarified the average consumer isn't interested in technological details.
"A Wikipedia article about a toilet has 10,000 words with 82 references, and yet nobody cares how it works," he said, clarifying that many things evolve through their lives.
Still, after Granatstein inquired about the ways that the company can make the customers not worry, Grossman clarified the infrastructure front doesn't require clarification because their sole focus is on the end experience.
Looking back on his rich media experience from companies like WIRED, Ars Technica and Bloomberg, Grossman drew an interesting parallel.
"They'd often ask me if print is dead, and I'd say it is on a downward slope. Every day someone who likely consumed print media dies, and someone who probably won't consume it is born, at least in a 1:1 ratio. If you reverse this, this is how it works with digital assets.
“Every day, someone who's likely going to be friendly toward digital assets is born. This is an upward slope," he noted.
Looking forward a year, Grossman doesn't see a significantly different digital landscape.
"It happens in spurts, but I believe we will have a Bitcoin ETF and maybe an Ethereum ETF, with these becoming normalized among financial institutions," he said adding that he expects Web 3 to become more usable with large data and customer insights.
Photo: Pratya Jankong for Benzinga
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