Eowyn Chen, CEO of Trust Wallet, who initially came across blockchain ideas in 2014 while operating in fintech, has actually increased to prominence in the crypto market, signing up with Binance in 2018 before taking the helm at Trust Wallet in 2022.
In a current special interview with BeInCryto, Chen shared insights into the obstacles dealing with the crypto wallet market, keeping in mind that a lot of wallets have a hard time to be rewarding. She likewise exposed her vision for the future of wallets, explaining a principle comparable to “Amazon Web3,” and anticipating that web extension wallets might vanish in favor of dApp-embedded performance.
Why did you select the name “Eowyn”?
It’s from the Lord of the Rings composed by J.R.R. Tolkien. He comprised this name which sounds really Irish. With this name, I advise myself 2 things.
The very first is the style of Lord of the Rings, to bring the most effective ring to the objective, which is to damage the ring so that nobody has a single point of tyranny. In some cases crypto market has great deals of temptations, no matter if that’s the popularity, the cash, or the power. I have actually seen leaders that entered pride and after that simply fall. I wish to advise myself not to get lured by the ring.
The 2nd is this character in the Lord of the Rings passes away. Anybody who wishes to do lasting things requires to ignore herself or himself in the task. The crucial objective is not to develop for remaining in the position permanently however to produce something that remains beyond you.
How does this viewpoint use to the business?
I’m developing my business to endure beyond the creators like me. I inform my group, too, that I do not anticipate Truss Walet to be the last company you’re having.
They will enter into the market to do other fascinating, cool things, however I desire you to have stability and an objective focus, and to gain from the cultural worth and give the market. That’s how we can grow more fully grown and credible since there suffice frauds out there.
Eowyn Chen, CEO of Trust Wallet, at Korea Blockchain Week. Source: Korea Blockchain Week Where are you based, and how is the regulative environment treating you?
Now in Dubai, however formerly in the United States. There was an issue. Coinbase Wallet got the SEC case, therefore far, thankfully, we have not got any cases.
We tend to be way more conservative than all our peers due to the fact that we found out the lessons from Binance. I was Binance and saw how things decrease. There are specific border lines such as how to earn money or where to have business design.
How would you rank the present state of crypto wallets market?
The majority of the wallets do not earn money. The possibly rewarding ones are Metamask and perhaps Coinbase Wallet. All the other wallets are not generating income or losing cash, due to the fact that wallet as a service design is hard to make it through.
