Building a wallet? Here’s what you need to consider | Kevin Healy, Liam Missim | #LDNBlockchain23

Blockchain Security

Building a secure, reliable, and user-friendly wallet requires careful consideration of security, scalability, regulation, and more, learn from the experts at #LDNBlockchain23.

Key takeaways

Key considerations for building a wallet: security, user experience, scalability, and regulation.
Development of a wallet: creating an app or service that interacts with the blockchain, managing private keys, and providing user interfaces.
Concerns about the security of wallets: private keys, vulnerabilities to hacking, and potential loss of funds.
Importance of user experience: ease of use, intuitive interface, and reliability.
Scalability issues: limitations of wallets in terms of transaction processing and storage capacity.
Need for regulation: compliance with existing regulations, such as anti-money laundering (AML) and know-your-customer (KYC) requirements.
Role of banks: providing financial services and custody solutions for digital assets.
Comparison with traditional finance: differences in transaction processing, security, and regulation.
Future of wallets: advancements in technology and agreements among industry players.
Development of new standards: open-source wallets, interoperability, and shared protocols.
regulations and standards: need for clarification and consistency.
Focus on building a robust system: security, scalability, and user experience.
Concerns about competition: fragmentation and duplication of efforts.
Building a consensus: coordination and collaboration among industry players.
Education and awareness: importance of understanding blockchain technology and digital assets.
Growth and maturity: blockchain technology and digital assets will continue to evolve and improve.
Financial inclusion: importance of including previously excluded groups in the financial system.
Regulations and standards: need for clarity and consistency.
Development of new standards: open-source wallets, interoperability, and shared protocols.
Focus on building a robust system: security, scalability, and user experience.
Importance of custody: secure storage and management of private keys.
Comparison with traditional finance: differences in custody and regulatory requirements.
Development of new standards: interoperability and shared protocols.
Importance of regulation: compliance with existing regulations.
Development of new standards: open-source wallets and interoperability.
Importance of scalability: need for wallets to handle increased transaction volume.
Development of new standards: interoperability and shared protocols.
Importance of security: need for wallets to be secure and reliable.
Importance of user experience: need for wallets to be easy to use and intuitive.
Comparison with traditional finance: differences in transaction processing, security, and regulation.
Future of wallets: advancements in technology and agreements among industry players.
Development of new standards: open-source wallets, interoperability, and shared protocols.
regulations and standards: need for clarity and consistency.
Building a consensus: coordination and collaboration among industry players.
Education and awareness: importance of understanding blockchain technology and digital assets.
Growth and maturity: blockchain technology and digital assets will continue to evolve and improve.
Financial inclusion: importance of including previously excluded groups in the financial system.
Important considerations: addresses the need for accessibility, affordability, and accountability.

Building a wallet? Here’s what you need to consider | Kevin Healy, Liam Missim | #LDNBlockchain23

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