orget about tracking votes from decentralized autonomous organizations, decentralized finance transactions, or data breaches across multiple channels and platforms. Your Web3 mailbox will handle it without mandating your phone number or legacy email address. Instead, all of this data will be received and organized by your wallet address.
These are a few of the promises that were made by Web3 telecommunication companies attempting to create the first development of blockchain-based messaging platforms: Web2 experience combined with Web3 security and privacy and, most interestingly, concentrating on the problems.
Monthly statements from a wallet, transaction notifications, and hack updates, for example, are among the contents that users could obtain in their inbox, according to Swapnika Nag, co-founder of Hashmail. This India-based startup debuted in beta on Oct. 1.
The startup now allows users to exchange emails using their established wallet addresses. "That's essentially an inbox that feels like email," Nag explained, "but on the backend, you just link with your wallet address and messages."
For native businesses, the technology offers an alternative to Telegram and Discord communication channels and a potentially valuable marketing tool. It provides users with the addition with a layer of security against cyber scams and may offer token rewards through paid ads and subscriptions.
EtherMail, a platform that offers encrypted wallet-to-wallet communication, is another firm aiming to address the industry's communication friction. It announced a $3 million seed funding round led by Fabric Ventures and Greenfield One in August.
Just like HashMail, it aims to provide a paywall to filter spam and incentivize readers’ attention to profit from any ads received, as well as subscriptions and other resources for businesses.
Despite their potential, Web3 emails do not appear to pose a threat to Web2 massage services in the near term, according to Nag. However, as users seek fundamental benefits such as decentralized storage and privacy, we may see a rise in the adoption of native emails in the long run.
Web3 is a hypothetical future internet version that uses public blockchains, a record-keeping system known best for assisting cryptocurrency transactions. According to Emergen Research, the industry will be worth $81.5 billion by 2030, but it still faces challenges such as security and interoperability.
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