Web3 Will Reach Mass Adoption When Tech Becomes Invisible, Says Trust Wallet CEO

Eowyn Chen, CEO of Trust Wallet, emphasized that the path to mass adoption of Web3 lies in creating a seamless user experience where technology becomes invisible to users.

In an interview with Benzinga, Chen highlighted that the key to widespread Web3 adoption is abstraction, ensuring users engage with applications without grappling with technical complexities.

"When we stop talking about technology, then it's where the fast adoption is happening," Chen said. "People don't feel the tech underneath there. Like when I'm browsing the internet, I don't say that this is through TCPIP, right? I don't even care about which chain or protocol that this is accessing through."

Chen stressed that the industry must move beyond technical jargon to focus on applications that deliver tangible value.

She noted that current user experiences, such as key management and gas fees, are improving but are not the primary barrier.

Instead, the lack of compelling use cases and the perception of crypto as speculative deter mainstream users.

"Blaming on the user experiences is an easy way of saying scapegoat, but how do we fundamentally create values that actually brings benefits to people in the world that can appeal to different types of the needs will be very, very important," she said.

On what's still missing, Chen pointed to the need for applications that resonate with diverse user needs, particularly in underserved regions.

She cited Trust Wallet's stablecoin yield feature, which allows users in financially unstable regions to earn yields on stablecoin assets, as an example of addressing real-world needs.

"There are so many people of our users that are coming from the disadvantaged parts of the world that their financial systems might not be that stable," Chen explained. "So the value proposition for crypto for them is to access for stablecoin assets, like a US dollar backed assets."

Chen also addressed the role of account abstraction and smart wallets, expressing cautious optimism.

While Trust Wallet has experimented with smart contract wallet features, adoption remains low due to high gas fees and underdeveloped use cases.

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"The potentials of the smart wallet to unlock what will be the use cases hasn't been fully shown with the potential yet," she noted, urging developers to leverage these technologies to create innovative applications.

Regarding safety in self-custodial environments, Chen underscored that decentralization inherently enhances security by eliminating single points of failure.

However, she acknowledged the challenge of balancing user experience with compliance, as centralized systems often provide simpler interfaces but compromise on decentralization.

"It's more about user experiences as a sacrifice to security and decentralization is the balance between these two that we need to worry about," she said.

As wallets evolve to include features like staking and identity management, Chen emphasized the importance of simplicity in product design to avoid overcomplication.

"Sometimes I think the space challenge is that technologists are using an engineering way to design a product, then you get a lot of jargon," she said, advocating for designs that assume no technical background from users.

Looking ahead, Chen envisions Web3 wallets integrating AI agents to manage tasks like yield optimization and trading strategies, transforming wallets into "trust agents" that empower users. "Our mission is to empower the people to be able to have control and explore opportunities," she said.

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