Web 3.0 ecosystems have evolved. So much so that the cycles of change are much faster than previous iterations. Walle messaging, a known feature, hasn’t reached adoption and recognition levels. All that may change with new platforms integrating with corresponding protocols.
Shant Kevonian, CEO at Ethermail explains.
Shant Kevonian, Founder and CEO at Ethermail
E-Crypto News:
- How has Web3 messaging changed how people interact?
At EtherMail, we’ve been ideating around creative and customized ways for Web3 projects to directly interact and engage with their users and asset holders. Our encrypted email solution can be leveraged by any Web3 project, helping them establish a secure line of communication to asset holders at any given time. Valid email addresses are linked to the user’s wallet address.
Now, with Web3 messaging, we want to enable users to interact directly themselves without relying on centralized platforms. The underlying blockchain technology ensures secure, tamper-proof messaging, building stronger levels of trust and transparency at a critical juncture in the Web3 industry’s evolution. Web3 messaging enables users to engage in peer-to-peer, trustless transactions, redefining the dynamics of online communication and personal data control.
E-Crypto News:
- What impact have Web3 messaging protocols had on the adoption of decentralized technologies?
Web3 messaging protocols can accelerate the adoption of decentralized technologies by enhancing user privacy, security, and control. These protocols reduce reliance on centralized intermediaries, which may encourage privacy-centric and digital-savvy users to embrace decentralized apps and services. Additionally, secure Web3 messaging can serve as an attractive option for users to engage with decentralized technologies, ultimately driving their adoption. Historically speaking, blockchain has had a complexity problem, in that many mainstream users have been reticent to explore applications due to a perceived inaccessibility and overly complicated user experience. For example, the prospect of creating a digital wallet and engaging with unfamiliar financial instruments has been a deterrent to exploring the Web3 space for many. By introducing services that mirror everyday user activities such as an SMS messaging technology equivalent, we can break down adoption barriers and entice more users into the Web3 ecosystem.
E-Crypto News:
- How do Web3 messaging protocols differ from say SMS and MMS?
Through end-to-end encryption, Web3 messaging has the potential to address many of the security challenges associated with legacy SMS services, reducing reliance on central authorities. As we know, traditional SMS messaging suffers from a range of security vulnerabilities and is susceptible to interception by malicious actors, exposing sensitive information. Smishing, a term that combines “SMS” and “phishing,” is an evolving and nuanced cybersecurity threat that poses a significant challenge to user privacy. Smishing involves cybercriminals sending fraudulent text messages to individuals, often impersonating legitimate institutions like banks or financial organizations, tricking customers with a precise and familiar tone of voice. These messages contain links to malicious websites or request sensitive information, aiming to deceive recipients into disclosing personal or financial data. The increased prevalence of sophisticated smishing activity is a growing concern. As more sophisticated tactics are deployed by cybercriminals, the importance of curtailing nefarious activity and upholding the highest standards of cybersecurity has never been more pronounced. Web3 messaging protocols can potentially provide the tools to greatly improve security standards but it will take time for solutions to be refined and brought to market.
E-Crypto News:
- How does EtherMail Chat deliver a seamless Web3 SMS experience?
As part of our mission to bridge the gap between Web2 and Web3 for users and companies, we’ve partnered with XMTP to deliver a streamlined Web3 SMS equivalent style experience for users, think Facebook Messenger or Google Chat. EtherMail Chat combines the convenience of traditional text messaging with the anonymity, privacy and resilience of blockchain technology, in which users can send and receive messages directly with their crypto wallets, enabling instant communication while keeping sensitive transaction details private. This peer-to-peer interaction allows for quick, trustless transactions. We feel this user-friendly and intuitive messaging experience will extend the accessibility of Web3 new swathes of users.
E-Crypto News:
- What are EtherMail Dapplets?
EtherMail Chat represents our latest DApplet – these are powerful plug-ins specially designed for the Web3 industry. With these dynamic and versatile tools, brands can gain access to a host of exciting functionalities that enrich the Web3 user experience. We recently unveiled our Moonpay DApplet within EtherMail, which enables users to easily buy cryptocurrency from within their inbox without having to leave the platform, greatly reducing the friction of navigating a digital assets exchange. We’ll be introducing more DAppletss down the road.
E-Crypto News:
- Why build on top of the XMTP protocol?
We’ve built on top of open-source Web3 messaging network XMTP because our platforms share clear synergies when it comes to facilitating secure Web3 communication. By building on top of the XMTP protocol, we’re introducing a new frontier for instant messaging for the Web3 space. Just like iPhones and Androids have different types of text messaging interfaces that seamlessly work in unison, we want to deliver the same messaging inter-connectivity for Web3, with our brand new EtherMail Chat feature.
E-Crypto News:
- What is the significance of enabling encrypted communication between digital wallets?
Enabling encrypted communication between digital wallets is of paramount importance in terms of bolstering user trust in the digital assets ecosystem – particularly at a time when the prevailing public sentiment around the industry has been dampened by black swan events. Encrypted communication is vital for facilitating broader use cases such as secure peer-to-peer transactions, decentralized finance, and the development of a robust, trustless financial infrastructure fit for the digital age.
E-Crypto News:
- What other major milestones have EtherMail achieved so far?
To date, our Web3 email solution has enabled a wide range of Web3 projects to maintain a direct line of communication with current asset holders based on blockchain-synced, real-time information. Considering the frequency with which holders sell their digital assets and NFTs, it is increasingly difficult for projects to maintain direct contact with holders of their assets. We have developed a solution to address this systemic industry problem, establishing a best-in-class framework for Web3 email communication with our growing roster of partners.
Earlier this year, we secured a $4 million funding round led by Tim Draper and Draper Associates. Having previously invested in Ethereum, Tesla, Coinbase, Polygon and SpaceX, Draper has a proven track record in backing bonafide industry disruptors. This round followed a $3 million round in August 2022, led by top Web3 investors Fabric Ventures and Greenfield One. Since our official launch, we have onboarded over 500,000 users, and this figure continues to grow steadily.
E-Crypto News:
- What else does EtherMail have in store for the remainder of the year?
I think 2023 has already been a banner year in the EtherMail story, particularly in terms of user onboarding, introducing new features and partnering with industry leaders. Email isn’t going anywhere, making it the perfect mechanism to democratize access to decentralized applications and reshape how individuals interact with digital assets and blockchain technology. Looking ahead, we’ll be ramping up our recruitment efforts and accelerating solution testing. We will also be formalizing a number of strategic partnerships that will help us extend the reach of our value proposition to large swathes of projects and users globally. Specifically for Q4, we’ll be building on this great momentum achieved throughout 2023, so our community can expect a few more headline announcements pertaining to our roadmap and partnership network – watch this space!
E-Crypto News:
- What are the XMTP protocol’s privacy features?
The new EtherMail Chat feature is built on XMTP (Extensible Message Transport Protocol) – a secure, private Web3 messaging solution. The XMTP protocol enables encrypted communication between digital wallets, ensuring that alerts and updates are received privately and in a decentralized manner. All XMTP messages are end-to-end encrypted and are stored and delivered off-chain for scalability and to preserve privacy.
