The Cryptonomist conducted an interview with Matias Olivera, CTO of Exodus, with whom we discussed how Exodus is streamlining blockchain for everyday users through simplified UX, scalable wallet integration, and a robust security approach. He also offered us some insights into how efforts like ENS can accelerate Web3 adoption.
As PayPal and Venmo’s integration of Ethereum Name Service (ENS) signals the next wave of mainstream crypto adoption, the focus on user experience and security is crucial.
With the rise of Ethereum Name Service (ENS) and similar innovations, how do you see these integrations simplifying crypto adoption for non-technical users?
ENS and similar services are a leap forward in the direction of crypto for the mainstream. Wallet addresses are intimidating, error-prone, and virtually impossible to remember. Being able to send crypto like you send an email or a DM is a necessary step for people to seamlessly exchange value online. We need crypto to be more intuitive and less intimidating for people who aren’t tech-savvy.
Security is a major concern for crypto users. How is Exodus enhancing wallet security without compromising on ease of use?
Security is always top of mind for us. At Exodus, we believe that it’s possible to offer strong security without sacrificing the smooth experience users expect these days. Achieving both is not easy, and it usually means we have to navigate a lot of complexity when building our products, but we do so so that our users can experience a simple and intuitive product, with peace of mind. Innovation is also key. Adopting technologies like Passkeys, which enhance security while providing users with experiences that feel as familiar as unlocking their phones, is critical to keeping up with the trends and expectations of users. We also prioritize transparency—we are open-sourcing our wallets piece by piece, so anyone will be able to verify the code. Our ultimate goal is to create trust, we want our users to feel safe using crypto on all of their devices, knowing that if they lose their phones their funds are safe., but you don’t want it to get in the way of people using crypto.
As mainstream platforms like PayPal and Venmo adopt ENS, what role do you see Exodus playing in this growing ecosystem?
The fact that big payment platforms like PayPal and Venmo are getting involved in Web3 is a huge validation for the space. Exodus is well-positioned to be a leader in this ecosystem because we’re focused on bridging the gap between Web2 and Web3. We want to ensure that users can seamlessly move between platforms and manage their assets without friction. Whether it’s integrating ENS or supporting other innovations, our goal is to make the experience of using crypto as smooth and seamless as possible, no matter which platform you’re using.
What specific innovations or upcoming features in Exodus are you most excited about, particularly in terms of making crypto more accessible?
One of the things I’m most excited about in the realm of making crypto more accessible is the wide spectrum of possibilities that our Passkeys Wallet opened up. This new product we created is more than just a wallet. It’s a money network (the “Passkeys Network”), a platform where other people can build experiences bringing web3 to web2 in a seamless way. Through an SDK, any developer can embed crypto in their websites and their visitors can have a user-controlled wallet in a fraction of a second, without needing to install nor manually back up anything. The wallet stays out of the way, and the user can benefit from the utility (or fun!) they were after originally.
Looking ahead, how do you envision the role of blockchain wallets evolving as part of the broader Web3 ecosystem, and what steps is Exodus taking to lead in that space?
Blockchain as a technology has a huge potential to fix the internet, to give control back to people by transforming the way they interact with digital products and services. We believe that wallets are vehicles for accessing crypto’s utility and that they should ultimately be invisible, where interacting with web3 becomes almost second nature—you don’t even know that’s happening.