Web 3.0 Initiatives Can Drive Crypto Adoption Across the Globe

In October, web browser developer Opera Software AS launched added support for in-browser transactions with Bitcoin (BTC) and Tron (TRX). This follows the company’s initial launch of an in-browser Ether (ETH) wallet in 2018. The latest announcement is part of the company’s grander plan to make the “Web 3.0” easier to access for the average consumer.

Opera, based in Norway, is the first major browser to develop and integrate a native crypto wallet, which also supports direct transactions. The company started testing the in-browser payment feature in July through a beta version of the Opera for Android browser.

Opera’s move fits into a larger narrative of companies integrating cryptocurrency into existing systems and networks that people already use. Brave Software Inc., another web browser developer, had first incorporated wallet technology into its browser to allow web users to earn cryptocurrency for performing or permitting certain actions that they already do with traditional browsers without earning anything. Other platforms looking to implement similar Web 3.0 features are also active.

A first step?

Cryptocurrencies are still more popular in the developed world than in developing markets, where most of the world’s financially excluded people live. Opera’s moves to enable Web 3.0 can potentially bring cryptocurrency to several financially excluded people.

That’s thanks to the browser’s popularity in the developing world, especially Africa. Opera browsers are popular for their data-saving features. The company claimed that data savings in its products helped users in Africa save nearly $100 million in 2018.

Therefore, making crypto wallets easily accessible to this group of consumers could be a big step toward using cryptocurrencies to offer financial services to the unbanked and underbanked. In addition to Bitcoin, Ether and Tron, the Opera crypto wallet also supports ERC-20 and TRC-10 tokens. Multiple decentralized financial, or DeFi,…

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