Malta has been called blockchain island in the past as the small country embraced blockchain and was one of the first countries to introduce regulation and frameworks for distributed ledger technology to follow. Once again the country has proven this to have been a good step as we have more news from one of the biggest blockchain companies based there, Elrond. In under 3 years this fascinating blockchain startup has surpassed a market valuation of over $800 million dollars but this looks like it is only a milestone for the business which is set to go on to do much bigger and better things. Based out of beautiful St. Juliens in Malta, this company has gone from strength to strength over the past number of years. In this article we discuss the company’s most recent achievement along with some of their achievements to date.
The Maiar Wallet Launch
The most recent successes of Elrond is the announcement of the launch of its Maiar wallet. The purpose of this wallet is to facilitate the onboarding of the next billion users into the cryptocurrency and blockchain ecosystem. The maiar wallet is set to compete with some of the existing giants in the payments industry such as Google Pay, Paypal and Revolut. The real unique selling point of this application is how secure it is, even more so it is entirely private and inexpensive so it should act as a real alternative in the blockchain space for some of the giants in the industry. If the hype is to be believed about the Maiar wallet application the only thing standing between Elrond and world domination is a marketing budget to onboard the users they need to be successful.
Elrond have already successfully completed their other goals so when they talk about onboarding the next billion people to crypto and blockchain it is probably wise to take this at face value. If they can be the company that starts to attract the masses to crypto and blockchain perhaps we are looking at a billion dollar unicorn in the making. In this case we will have to wait and see how the launch goes and how successful the Maiar wallet is on the open market but in the end of the day there is no harm getting behind a company who is trying to bring crypto and blockchain technology to the masses.
About the Maiar Wallet
The Maiar wallet application is a mobile wallet and global payments integrated application that will use the Elrond blockchain. What this means is that by using Elrond’s blockchain it is gaining internet-scale performance that can scale well beyond one hundred thousand transactions per second. The goal of Elrond when releasing this wallet is to reimagine how any value transfer occurs, including but not limited to the transfer of assets, the transfer of money, the transfer of titles of ownership or really anything with value being transferred from one person or entity to another.
Why launch another payments application?
The advantages of blockchain technology have been out of reach for the general public over the past number of years and as a result mass adoption of blockchain technology has not occurred yet.
The launch of the Maiar mobile application will mean that the masses can adopt blockchain technology simply and easily just by downloading a mobile application. The advantages of the application therefore go way beyond providing a service to the user, in essence the application is providing a service to the entire blockchain community and the world as it is opening the doors of usability in a feasible way. Once the masses can adopt this new technology it will open the doors for other companies to start doing the same thing.
“Billions of people are able to send direct messages to their contacts because it’s convenient, intuitive, and inexpensive.” said Beniamin Mincu, Elrond CEO. “Maiar and the Elrond blockchain now offer them the same experience when it comes to sending money.”
Getting the users interested
Users don’t tend to care if something is blockchain or not so getting them interested and engaged in using the application is one of the other key strengths of the Elrond Maiar Wallet. The wallet itself has a slick design and has incorporated everything from gamification to user experience and user interface honing that results in the user being able to start using the application in a matter of seconds after download.
It seems from what Elrond is saying that no expense has been spared in creating this next generation wallet application and hopefully the mass market will see the time and effort that has gone into creating it and embrace the new technology with open arms.
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