If you have ever bought an NFT or interacted with DeFi applications, you have probably used MetaMask by now. The company behind the famed self-custodial wallet, ConsenSys, has been building products for the blockchain since 2016.
Thankfully, their Defi and Wallets Director, Marouen Zelleg, has agreed to share with us on what it takes for a decentralized world to succeed.
A Better User Experience
Despite the steps we have taken in Web3.0, it is still obvious that user experience is not the best.
A quick look at some of the top protocols by total value locked and you can see why the average user may not want to go on-chain.
“Good UX/UI is fundamental to ensure mass user adoption of Web3“
At ConsenSys, Marouen believes that having a seamless interaction is imperative to ensure “safe, error free user interactions“. To unlock this, the power of communities should be tapped into.
And while ConsenSys champions decentralization, they believe that steps have to be taken by MetaMask to minimize scams.
They do this by helping users scan sites for malicious activity, additional confirmation windows before signing transactions, and partnerships with anti-phishing companies.
However, they are not stopping there.
Last year, ConsenSys launched a partnership with LivePerson a to “provide conversational AI support ” for its blockchain and crypto communities, and aims to launch VillageDAO, the first decentralized customer care platform by the end of 2022.
They hope to build a resource that’s accessible from anywhere, and at anytime. With an increased emphasis on self-service, user experience will be taking a step forward in Web3.0
MetaMask Goes Institutional
Web2 companies have been entering the space at an unprecedented rate.
To address this, ConenSys launched MetaMask Institutional (MMI) in February 2021, “to serve the large number of leading crypto funds, market makers, and now, DAOs” that have been eyeing exposure to DeFi.
With “hundreds of organisations” onboarded, MMI has received positive feedback, and helps institutions keep track of their portfolios, as well as track NFTs.
Specifically, they have partnered with seven custodians that assist these organizations and DAOs in different jurisdictions.
To expand on the use cases for both the average participants as well as institutions, ConsenSys is expanding Infura, the leading Node access provider for Web3 builders.
It will eventually support non-EVM chains such as NEAR protocol and Starknet.
Educating The People
While ConsenSys is taking steps to prevent hacks and ensure quality, there will also be attack vectors present.
“Metamask is implementing several major programs to educate users around Web3“
And while it is the responsibility of the wallet owner to keep funds safe, they are taking steps to educate on how exactly to do that.
With a strong belief that “blockchain is a revolutionary technology” and that the world “increasingly relies on digital interactions” Marouen has his sights set on finding solutions for interaction without the fear of malicious behaviour.
And while we may not be exactly there yet, complementing existing web2 technologies to solve multiple use cases is an exciting step forward.
[Editor’s Note: This article does not represent financial advice. Please do your own research before investing.]
Featured Image Credit: Chain Debrief