eXo Wallet Delivers New Enterprise Option in Cryptocurrency-based Mobile Payments

November 9, 2018         By: Steven Anderson

While there’s a growing number of use cases for cryptocurrency, getting it mainstream can be a little difficult. After all, you might have plenty of bitcoin, but how do you spend it? You send a wallet message from an exchange, perhaps? That’s cumbersome by most any standard, especially when you’re out on the road. For enterprise users looking to get into cryptocurrency exchange, eXo Platform’s new eXo Wallet may be the solution.

With eXo Wallet, users get access to a secure mobile wallet platform built around the Ethereum blockchain standard. Plus, users can both send from and receive payment to the wallet in any cryptocurrency or utility token that uses the ERC20 format. There are nearly 500 such tokens out there, ranging from Ethereum itself to CANDY, currently trading at a rate of about $4 per 100,000.

Offering up a mobile wallet system specifically for the enterprise user will hopefully help mainstream cryptocurrency, at least, that seems to be eXo Platform’s hope here. Since eXo Wallet is a free add-on module that can be integrated with installations staged by eXo Platform, it should be comparatively easy to put in place. It’s currently only available as a beta version, but since the code is open source, it should be fairly easy to contribute valuable new insights to the operation.

At least, that’s the hope. The problem here is that there’s no real reason for enterprise users to turn to cryptocurrency, at least, not yet. Ransomware actually provided a more compelling reason to keep cryptocurrency on hand, if for no other reason than the criminals in question were always demanding bitcoin–later other currencies like Litecoin once bitcoin proved too sluggish in the exchange–to free up files. It’s clear eXo Platform hopes that making cryptocurrency easier to trade will prompt more users to actually trade in it, but when there are so few potential takers, there’s a serious issue right out of the gate.

While it’s a novel trick of infrastructure for a future with plenty of cryptocurrency use, it’s putting the cart before the horse just a bit. After all, what point is there in being able to readily trade cryptocurrency when there’s no one willing to make the trade?