Credit Cards can connect Web2 and Web3
The past year shown that the Web3 domain is the future of digital interactions rather than merely a passing fad. Despite how commonplace the space has grown, many people are still unsure of how it may and will affect their lives.
Many programmers are looking for solutions to connect these two web versions. Bruno Guez, CEO of Revelator, share his thoughts o why he thinks credit cards and other Web2 financial instruments can serve as gateways for new Web3 consumers.
Recently, Revelator announced the integration of Stripe to let fans to easily buy digital collectibles with their credit cards. Revelator works in the music industry to provide labels and distributors the infrastructure to operate their companies.
Guez asserted that building a bridge between these two versions of the digital reality requires making these new digital tools accessible through Web2 technologies consumers are already accustomed to using, such credit cards.
“The majority of the developed world uses credit cards for everyday purchases. If we want to usher new users onto Web3, we must provide these Web2 users with a familiar and ‘safe’ payment method.”
He also mentioned how leveraging well-known Web2 financial tools might assist the sector overcome obstacles like a lack of knowledge about decentralized money management.
The user’s knowledge of self-custody procedures will enable them to “completely embrace Web3, run their digital wallets, and never lose access to their digital assets,” the speaker stated. Lack of information has caused obstacles to self-custody, and because centralized exchanges are more accessible and user-friendly, they are frequently preferred. However, as Guez noted and as recently saw in instances like FTX, when centralized exchanges shut down, customer trust and industry confidence suffer.
See Also: Can Web3 address Web2’s issues?