Google Wants to Make Bitcoin Wallets as User-Friendly as Web2 Apps

Google is working to make Bitcoin wallets as user-friendly as web2 apps, as well as adding security features that promote mainstream adoption

Google is reportedly aiming to enhance the user-friendliness of Bitcoin wallets, making them comparable to Web2 applications, and is also adding security features to encourage broader adoption. This news was shared by Kyle Song, APAC Web3 Specialist at Google Cloud, during a speech at the Bitcoin Tech Carnival in Hong Kong.

The goal is to lower the barriers to entry for cryptocurrencies. In addressing the technical challenges involved in bridging the gap between traditional and blockchain-based finance, Song highlighted Google’s focus on improving security.

Several Asian publications covered the news from the Four Seasons Hotel in Hong Kong.

"With the launch of Exchange-Traded Funds (ETFs) last year, Web2 giants like Google have opportunities to enter the Bitcoin industry," said Song. "Google has been collaborating with the Bitcoin ecosystem since last year," he added, and the company is exploring ways to lower entry barriers so Web2 users can easily use Bitcoin.

Song used cryptocurrency wallets as an example. He explained that Google is looking to improve Bitcoin wallets to match the Web2 experience with a goal to enable users to log in to Bitcoin wallets through their Google accounts and trade Bitcoin as easily as existing Web2 payment systems.

To advertise certain products they must be certified. These products include complex speculative financial products such as contracts for difference, rolling spot forex, financial spread betting, and synonymous products.

Cryptocurrency exchanges are on the list, along with cryptocurrency software wallets and hardware wallets designed to hold the private keys for cryptocurrencies, NFTs, or other crypto-based assets.

Google is also exploring solutions in blockchain technology to address trust issues between on-chain transactions or activities that occur on the network and off-chain systems, such as transactions that occur outside the main blockchain or on secondary networks.

The company also wants to address ways to enhance reliability using advanced encryption technologies like Zero-Knowledge Proofs (ZKsP). The report also includes Song's discussion on the impact of Exchange Traded Funds (ETFs) on the cryptocurrency industry.

According to Crypto Briefing, Google Cloud introduced an Ethereum-compatible Blockchain Remote Procedure Call (RPC) in September, a service designed to facilitate blockchain development for Web3 developers. It was meant to make it easier for developers to interact with blockchain data. The service initially supports the Ethereum mainnet and testnets, with plans to expand to others in the future.