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Exploring the Future of Blockchain: Insights from 5ireChain and FoxWallet
Recorded: Jan. 16, 2025 Duration: 0:24:57Space Recording
Short Summary
The transcript is a conversation between representatives from Fox Wallet and FireChain, discussing their collaboration and future plans. Fox Wallet is a decentralized Web3 wallet supporting over 80 networks, offering features like cross-chain swaps and staking. They plan to enhance technical aspects and user experience by 2025, including integrating AI technologies. The discussion also highlights the importance of partnerships, with plans for joint marketing initiatives and community engagement. The conversation touches on the need for better user education and simplified user experiences in the crypto space.
Full Transcription
Hello, guys. I'm assuming I can't hear the host from FireChane.
Hey, guys.
Can you hear. Can hear now? Sorry.
There was a bit of a technical issue, but I hope you can hear me now.
Let's give it a few minutes and then get kick started.
Great. In the interest of time, thank you very much to the officials from Fox Wallet for joining us.
Could you tell me a bit about yourself and...
what you do at the company and then we can go on to understanding what Fox Wallet is.
Sure, yeah, of course.
Thank you so much for inviting me here.
So my name is Natalie.
I do business development at Fox Wallet.
As a matter of fact, now I'm a chief business development officer,
which is still hard to say because, you know, the easiest and the best thing that you,
how you say it, you know, in the Web3 is just you say,
I do business development at a certain project.
So that's what I've been doing at Fox Wallet for...
Over three years, not over three years, sorry, three years will be exactly tomorrow, because tomorrow is the 17th, right?
Yeah, that will be exactly, sorry, I just got lost for a second, yeah, it'll be exactly three years that I'm with Fox Wallet and actually generally in Web3 space, because before that I was more in the Web 2 world.
Let's put it that way.
Okay.
So, yeah, and a little bit about myself.
So I have been living in Asia for the past 10 years, though I'm originally from Europe.
And, well, I like to read about Web 3.
I also like to read the third, sorry, English left chat thrillers, as well as watch them.
I have a beautiful cat who very often appears on my Twitter or sorry on my telegram.
I'm not sure about Twitter.
And yeah, very happy to be on the space today, talk about Foxwallet, talk about fire chain, because we have integrated you guys for, I don't know, it was more than half a year ago for sure.
So yeah, very excited about the new initiatives that's going to happen with fire.
Like, I'm assuming you're having big plans for 2025, same as us.
So, yeah, glad to chat today.
Thanks very much.
I really appreciate your time.
I'm the CMO of the company.
And I'm really interested in understanding a bit more about your cat and what made you move from Europe to Asia.
And what have you learned about the difference in the ecosystem?
So let's start with the cat.
Yeah, so my cat is Mamba.
He was found on the street at 3 a.m. by my friends who were clubbing.
So, yeah, that's why his name is Mamba because he's a little crazy and he likes to attack.
But overall, I love him, obviously.
Yeah.
Um, other than that, um, well, the move was, uh, very simple. I just had to go for an, not had to. Um, I was offered to go for an exchange by my university and, uh, it was the best decision in my life. I absolutely love Asia. You know, how.
Sort of how free you feel, I think. And actually, same, I think, applies for the web free space.
You know, I think it's much more free in Asia. You know, there's so much more, I don't want to see potential because potential is absolutely everywhere.
But I feel like Asian community is extremely young and extremely ambitious.
slash in like they're very uh what's the word uh enthusiastic like in my opinion generally the Asian
community is extremely enthusiastic you know um and they're happy to try new things they are not scared
of trying new things you know and they're happy to also develop new things as well which um we
have seen in Web3 space as well you know because let's be honest a massive chunk of
Web3 projects actually come from Asia, you know, and the community is extremely active.
That's why most of the Web3 projects actually are trying to get into the Web3 space, right,
in Asia specifically.
So, yeah, I guess that's the whole, that's my take on that.
Amazing.
Even we here at Fire have a totally decentralized team.
A bunch of people are based in Asia, some in Europe.
some in the Middle East,
and it really helps to have such a decentralized workforce,
many of us in mind.
But about what's your mission and vision.
Why do you guys exist?
Yeah, so actually why we exist is a pretty interesting thing.
sort of story, backstory or something, if I may say, because we started as just a bunch of
sort of hardcore devs, you know, very early people, people who were very early in Web3,
who, you know, were very into L1s as well initially. So we started as a Filecoin wallet,
before that our team developed a few other products. One for them was also for FileCoin, but after that,
the industry itself started really evolving.
You know, there were so many more networks and stuff, and it didn't really make sense to just, for a wallet, to keep building on one network only.
That's why we decided to go multi-chain, almost since the beginning, actually, like after just a few months of our existence.
And for now, we have over 80 different networks.
When I say over 80, that's probably like 84, 85.
And that's including EVM, obviously, fire.
Okay.
Tron, Tons, Solana, Bitcoin, Space Mesh, like, quite a few other layer ones as well.
So, yeah, just being multi-chain, you know, gives you an opportunity to work on a very
comprehensive platform in general, because obviously you want to give people access to all
these different networks, but at the same time, you want to be able to be.
when I try to create a very smooth experience of jumping to different networks and having
them all at once on the wallet, which is a difficult thing in general, because obviously
there's no infrastructure for that when it comes to networks with very different mechanisms
or how they operate. But yeah, I mean, hoping for some more things happening in 25 in that sense
and as well as trying to work on it ourselves in terms of the UI and the U.S.
So, yeah, just went too far, but yeah, so Fox wallet is a decentralized Web3 wallet, has over 80 different networks.
We have inbuilt cross-chain swaps and same chain swaps as well, powered by LeFi and then one inch.
We're going to be a new one inch.
We have a staking available for ETH, for Phil, for ALEO, and a few other options as well.
And we are also, you know, kind of trying to introduce a few more staking options for 2025, you know, so that this way it will be very beneficial for our users as well, you know, who obviously want to.
You know, get some benefits from holding their assets right on the wallet.
Also, we have over 10,000 different digital assets supported on Fox Wallet across all those networks,
as well as we have a discovery page that, you know, represents different apps or daps from different networks that we have integrated.
And the same one I'm hoping we're going to have full fire.
Because basically what we do, we have like a colon for every single of those networks.
You know, we users can scroll through different apps.
and connect to them within FoxWallet,
which is obviously fantastic
because you don't have to jump to any external browser
and instead stay within Fox Wallet
but still enjoy the network that you want to enjoy
and the depth that is building on that certain network.
So obviously I'm hoping that this is something
we can do with Fire very, very soon.
And, yeah, apart from that, we are primarily a mobile app.
We do have a browse extension, but it's only on a one network at the moment.
But we'll be adding EVM networks there within the next month.
So, you know, hoping the fire will be available there too,
which will make it even easier for users, you know, to use the wallet either from the mobile app
or from the browse extension, you know, whatever is convenient for them.
Also, we have some...
access to certain NFTs, as well as on ramps and off-ramps on Fox Wallet,
as well as we are protected by obviously an audit, as well as GoPlus API, you know,
for like protection from different fraudulent addresses or websites and stuff, you know,
so that users are 24-7 safe and, you know, protected by...
different monitor like monitorings if I can call it that way.
I hope I covered everything, but yeah, that was basically in a nutshell about Foxwallad.
That is so interesting.
Tell us a bit about your big plans for 2025 and what are some things that you'd like to do with fire.
Yeah, so some of the things that we have, so for 2025, obviously we're going to be focusing a lot on the technical parts as well, because it's just, because while you have a wallet with so many different networks and stuff, it's a lot about also the something that is happening at the back end or the front end as well, you know, but more like from the technical perspective.
So we'll be very much focusing on a lot of technical details that will make.
Box wallet even more comprehensive, even more like smooth, you know, make the whole experience much better.
So it's one of the things that we are focusing on at the moment.
Second thing is obviously something that we have, sorry, that I have just mentioned about the whole depth interaction situation because...
with Fires ecosystem developing, obviously we'll be super happy to create a separate
colon for FIRE chain ecosystem on Fox Wallet on our discovery page where users can connect to
ecosystem daps, you know, and enjoy them while still being on the wallet without the need,
you know, to jump to any external links or anything there.
which is obviously thing number two, number three would be super happy to participate in any
of the marketing initiatives. I mean, I'm hoping fire change is having any. And if you can share
some kind of things that you also have planned for 2025, I'll be happy to hear about that.
And apart from that, obviously going to try to focus on bringing as many benefits sort of like
rewarding benefits for the users in a sense like so they can make money if to be very direct but
just to make it sound very cool and formal yeah it's just like trying to do we'll try to
introduce more ways for users you know for the for the wallet to to be more beneficial so
different staking options um maybe some other defy um
Defi projects, Defi, how do you call it, DAPs as well.
And another thing that everybody is crazy about now is obviously AI and AI agents.
So we're hoping to introduce both the technology of that on Fox Wallet as well as the tokens themselves.
I mean, it's a hot topic at the moment.
So obviously, you know, if the user wants it, we're going to introduce that.
Yeah, and I'd love to collaborate with you on marketing and cross-promotion activities for both our communities.
Because at FIRE, we are building a digital playground and layer one ecosystem for us like yourself.
And we essentially win only when our partners succeed.
So our partnership initiatives could include stuff IRL,
which is offline meetups, community meetups in Asia,
Europe, Middle East and so forth.
We could also do more Twitter spaces.
This one had a bit of a technical issue,
but in future, hopefully Elon Musk will help us more.
And we have a thriving newsletter.
We have very active telegram channels,
Discord channels.
So we can cross-pollinate important ideas,
product insights, and the works.
Most importantly, there is this issue of deeply embedding your technology
and giving you the even more tools to succeed,
even more than you're doing, because that's what makes us successful.
Our mission is to essentially
really democratized conscious capitalism,
enable people and enterprises to be sustainable,
as well as do better business model development,
better profitability models and new frameworks.
And we are really excited about 2025,
both from the policy perspective,
and the new sense of excitement that we are seeing all across the world.
I mean, I do hope the whole excitement is justified in a way.
Because, you know, it's like everything is, obviously, the market is much better than it was previously for certain reasons and stuff.
But at the back of my mind, I'm like, what if something goes wrong?
You know, what if there's a black swan there or something?
You know, like, it's always...
it's great, it's like exciting, but also just a little scary because you still have to
keep your head cool, yeah, like not to get lost in this whole, in this excitement and stuff like that.
But yeah, generally hoping that 2025 will be nicer to us, as well as, you know, hoping for more,
like, cooler technology, you know, much better development for Web3 in general, right?
And as same as you said in terms of...
regulations, I guess it's going to be much more friendly to us.
And you've seen a bear cycle, you've seen a bit of a bull cycle.
What are your suggestions and insights and reflections from the bear market?
Oh, well, hard to say.
I mean, I prefer listening to other people, especially my colleagues,
whom I think are experts in this.
And there's not a single unified...
opinion because some of the people, you know, just look at the graphs, obviously, and they judge
by the graphs. Some people say it's going to be like that. Some people's going to, honestly,
and at the same time, you never know when the Black Swan comes, right? Like, things can happen,
drastic things can happen. You can't really predict them even by looking at the graphs, right?
So in this case, I don't really want to be...
sort of giving, obviously, this is not advice, this is not of any financial advice or anything,
but generally, obviously, it's important for the users not to keep all of their eggs in one basket,
you know, so kind of try to diversify their portfolio and be extremely cautious.
And one of the things that I always say to the users, because when, not only to the users,
but in general, it's a great thought that I read maybe a year ago or something, and I think
it was on Twitter, is that
Whenever the bear market comes, well, sorry, the bull market comes, users obviously get extremely excited and they all move to exchanges, especially centralized exchanges, to do trades and stuff, to do different activities.
And unfortunately, they forget the fact that an exchange is not a wallet.
Right.
You know, because exchanges for exchanging, yeah, for doing that, for doing trading.
But a wallet is where you actually store your assets.
And this is the thing that they forget about.
And that's where, you know, that's where they get sort of, how can I say, lost and might unfortunately suffer losses in many different ways.
So it's very important for the users to remember that there is an exchange for one thing and there's a wallet for a different thing.
So yeah, that's my take on that.
I really thought that you structured your answer really well and provided very important insights.
In this industry, I think we need to do a much better job of both educating the market as well
of empowering the market. So we've also launched a blockchain academy of sorts where we partner with
education institutions and governments to enable more people to understand the basic terms and techniques of blockchain.
Because right now, a very small percentage, some of say less than 1% of the world,
engages with the crypto ecosystem.
And this number can grow and expand the GDP of the goods and services in the world.
So education and empowerment are boths really crucial.
So let's also work together to scale something on those lines.
But actually, it's a very interesting thought in the sense that, because obviously I have quite a few friends who know nothing about Web3, or they know the word Bitcoin.
That's as much as they know about it, right?
And even in this case, so when...
when obviously Bitcoin hit 100K and everybody was super excited and stuff, most of them were like,
oh, you know, but it's too late now because it's too expensive and stuff.
You know, what's the point of buying it right now or whatever?
What's the point of actually jumping in?
So it's either this, you know, like they feel a little lazy and to even try.
And I think I know why.
It's mostly the, it's still the user experience, obviously, because it's,
Also, one of the examples that I really like to bring up is, I think about half a year ago,
a friend of mine came to me and they needed like, basically they needed my help with understanding
how crypto works. And I remember, I was like, how do I start? You know, what do I say, like, to a person
who has no idea about it? Like, how do I start? And I was like,
maybe it's just easy if you go to a centralized exchange and I don't have to go through all of this, you know?
It was like kind of, I felt bad and I even feel bad saying this right now, but it was extremely difficult to explain to them once.
why or how it works, you know? And then for her to understand how it works would be even
harder than for me to explain. It was just, it was just too much, too complex, too complicated.
So yeah, we definitely need to also work ourselves, as you said, like the academy that you launched,
you know, to explain to the users, but also, you know, work ourselves on building a better
user experience and user interface.
Much better.
And this is something the entire industry should do a lot better off,
which is complexity for the sake of complexity is a weakness, not a strength.
And when we speak in terms and buzzwords and say things that the normal person doesn't understand,
it doesn't mean that normal person is wrong.
It's just as an industry, we have made the experience, the barrier to entry needlessly complex.
So, uh,
that has negative repercussions.
I mean, we understand, like, why it sort of happened, obviously,
because it's a very new technology in the way, right?
It's about decentralization.
It's about making it as protected as possible.
It's also about the fact that people who started it were extremely...
you know, they knew how to understand these complex mechanisms and stuff.
Yeah, but this is not the only complicated technology that exists.
And if the people in the industry want widespread participation, the barrier to entry in that
needs to be lower.
If it has to be, you know, download 20 wallet, do this, do that, like get here, get
that like nobody's ever going to like to do that and it'll it'll remain a niche movement so we have to
as an industry both you me other organization have to do a lot more but you're right like there are
reasons why it existed this way they are not good reasons but uh i do take your point and you know
really enjoying this chat so far me too me too i want to close just by asking like you know
What were some areas that you really excited about in 2025?
And what are some things that you're cautious about as we close?
The areas I'm excited about are obviously AI.
Another thing is something for the wallet specific is more like how to create an account,
like something like MPC wallets.
that's for sure, you know, just making it, the user experience that we just talked about as smooth as possible, you know, with no frictions at all for a wallet that has very different networks.
I'm super excited about that and we'll be super happy if somebody comes up with some really cool idea there.
And obviously excited about the market.
I'm hoping that it lasts and, yeah, already preparing to go to the conferences in February to consensus and to Denver.
So yeah, excited about that too from my own BD perspective.
How about yourself?
I'm also really excited about ESC at the service, a product that we are working on,
which looks at offering a standardized service for organizations to calculate carbon footprint
and then bring them on to fire chain.
From further collaborations between marketing and BD,
I'm quite interested.
There are some of my colleagues on the call,
which will be in touch with you as we plan new stuff.
And technologically, I'm really interested in how public policy
perception changes.
as different government elect different leaders.
How does that change the way the world perceives crypto?
And where can the economic and social tailwinds take the movement?
In terms of conferences, we hope to see you at some of them.
And if many of our team members are based in Asia,
I'm sure they'll meet them.
And if you ever come to Europe, I'll meet you.
Absolutely, that would be fantastic.
Yep.
Hey, it was such a pleasure. Thanks so much for doing the incredible work that you do.
I appreciate your time and look forward to catching up.
Likewise. Bye.
