According to the latest study by Juniper Research, by 2026, their total number of users worldwide will exceed 5.2 billion – an increase of about 53% compared to 3.4 billion in 2022. The study’s authors predict that digital wallets will continue to spread in developing countries where payments are currently mostly made in cash.
Native Web3 wallets are so-called super apps. They are based on traditional wallets that provide access to more than 3.7 thousand applications in the crypto ecosystem.
They are a string of numbers in the blockchain and allow us to maintain anonymity to the extent that users see fit. Every transaction a person makes using the wallet is recorded on the blockchain, creating a digital record – similar to a Google search history.
At the same time, in Web3, the data belongs to the users themselves and not to any private company. They cannot be passed on to advertisers or adjust algorithms for selling products and services based on this information.
Shortly, blockchain wallets will not only store crypto keys or provide access to DApps, but also integrate data from passports, resumes, social media pages, certificates of achievement, and more. They will become the universal key to the world of Web3.