@0xDesigner: why the term "wallet" is holding web3 back

Submit
@0xDesigner
@0xDesigner

Onboarding the next billion users with words. How the term "wallet" is psychologically limiting web3's growth potential, and a case for abandoning it. 🧵👇

Tweet image
x.com

Why the term "wallet" is holding web3 back

Recommended by 1 curator
avatar
Yes, yes, this is a long standing issue. But the main reason is, not mentioned, is that ‘wallet’ is a misnomer. It is actually a ‘key’ to your address on the blockchain, and for example a Ledger or Metamask is in fact a ‘keychain’. So there you have your new name ;)

What is also interesting, that for example an NFT is not ‘in’ your wallet, in fact it is your address that is written into the smartcontract as the owner address.

Brings me to the next misnomer, ‘smartcontract’ … isn’t that actually just a program running on the world computer? Nothing legal like a contract. (… and the concept of code is law is also largely misunderstood.)

I guess if you go on you can find a lot more dubious words in crypto speak.