Expanding the utility of crypto wallets: DotWallet

In an exclusive interview with Lin Zheming, the co-founder and chief executive officer of DotWallet, The Coin Republic’s community manager Abhiruk Bhattacharyya aimed to explore the journey of the wallet’s success.

DotWallet is a non-custodial wallet built on the Bitcoin Satoshi Vision (BSV) protocol. It is described as a safe, stable, and convenient blockchain wallet. The wallets support multiple assets to store and allow its users to transfer cryptos instantly. Few highlighted features of the wallet include stable protocol, multiple login methods, multiple ways to transact, and handling huge user volume worldwide. For the reasons above, the wallet has attracted many users becoming one of the most trusted choices worldwide.

Abhiruk: What are the current challenges that DotWallet faces and what are the areas you want to work upon?

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Lin: The wallets currently in the market are used to hold your funds. I am seeing the blockchain technique or the immutable logic can create much more value than just coins and exchanges. I will consider DotWallet, as not only a wallet, but key chain management. The wallet can help you to manage your assets and all your data. Imagine that you can manage all data you create by manipulating the wallets, and that data contains your privacy data that only you have access to. And you can authorize others or third parties to access the path of your information, and take control over your data. 

So, that is not a challenge, in future I will try to explore, as it is not about casinos or gamblings between crypto assets. It is all about creating more value to the users, how to help the user to have a better life. So, the main challenge here is to invite more developers to come with us, and use our infrastructure to provide more utility to the users. But right now the utility is limited, so we will explore more features or more infrastructure that will enable our developers to be more creative.

Abhiruk: Where do you see DotWallet in the next five years? How do you see the growth of DotWallet? What are the future goals of your company?

Lin: I will consider that there may not be a DotWallet printing in the next five years. Right now the wallet is in its nascent stage, but in future the key management system will be the most essential part. And that can help the users to gain more control over their data. So, it might not sound like centralizing the parties, like DotWallet or some wallets to control your data. You can have multiple choice, and those wallets were competing to serve you much more services. And you are paying for their services, but the data is controlled by the users, and that should be easily migrated from the Bitcoin wallet system. I don’t see synchronization, like if we get mass adoption, then everyone will have DotWallet installed in their mobile phones everywhere. However, that is not possible and it will hurt the user’s value. 

So, I will focus more on the protocol things and help the interoperability between different wallets to help the users to control their data. So, we have several ways of doing that, ,but it may take several years to achieve that. Although we are small now, I believe our future is bright.

Following the current scenario, it seems like DotWallet is getting more mainstream acceptance. However, according to the perspective of Lin Zheming, the team behind the wallet will need to focus on more improvements. Currently, going by the present market scenario, crypto wallets need to offer more solutions and services to their users aside from storing their crypto assets in it. So the primary focus of the team is currently to add the interoperability features with more crypto wallets; a task that DotWallet seems to be aware of and is already working on implementing. 

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Ahtesham Anishttp://www.thecoinrepublic.com
Ahtesham Anis is a Computer Science undergrad student currently based out of India. Coming from the business background and his keen interest in Cryptocurrency and Blockchain technology is what Ahtesham brings to the table. He is always an eager learner when it comes to exploring the new technologies and topics in the crypto world.

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