According to an article on news website ZDNet last December 2018, Opera is taking a leap of faith on blockchain technology to extend its market and get hold of new audiences interested in cryptocurrencies such as Bitcoin and Ethereum.
Previously, one of the preeminent browser operators of today launched a private trial version of the Opera for the Android crypto-wallet last July 2018, as noted in the Opera Blogs website. The said crypto-wallet can be utilized to store Ethereum and have the opportunity to use ‘Dapps’ or Ethereum-based decentralized apps.
Charles Hamel, Opera’s crypto product lead, stated:
“Our hope is that this will accelerate the transition of cryptocurrencies from speculation and investment to being used for actual payments and transactions in our users’ daily lives.” (Charles Hamel)
In less than three months after announcing its intention to delve more into blockchain technology, Opera has finally incorporated an element to buy crypto into its Android app as mentioned on CCN’s story a few days ago.
A partnership with Safello, a European crypto exchange, turned their plans into reality. Users are now able to purchase cryptocurrencies directly from the Opera browser.
The CEO of Safello said:
“With Safello brokerage on the Opera mobile browser for Android, both new and experienced users can now easily transact cryptocurrencies in the most secure and fastest way possible. The functionality to purchase crypto is right at their fingertips.” (Frank Schuil)
Based on CCN’s report, Opera’s announcement comes in a particular time wherein other substantial technology corporations such as Samsung are reported to be in the action of incorporating native crypto support into their digital devices.
Based on CCN and Bitcoin Exchange Guide’s article, considering the bearish market for most of the premier cryptos over the past months, some hacking attacks, security breaches, and issues like the QuadrigaCX catastrophe where $150 million in digital assets was lost when the key person apparently died holding the private keys to it, it seems like the investors as a whole has lost some of its confidence in this still-emerging industry.
Additionally, even some of the actions to strengthen the foundation of the industry made by top crypto companies like Coinbase, Gemini, Kraken, and Binance have not been able to completely shift the perception of crypto in the mainstream yet.
Initiatives of Technology Conglomerates are Pivotal For Mainstream Bitcoin Adoption
With announcements of big-name players such as Opera and Samsung entering the industry, Bitcoin Exchange Guide mentioned in its report that the crypto industry has taken another small but essential step towards increasing its overall visibility across the globe. Samsung and Opera currently shows off a user base together of around 200 million people, to boot. Consequently, their introduction into the market could possibly draw on a larger number of customers — specifically those who have been hesitant to utilize or be even interested in cryptocurrencies in the past.
As stated in CCN’s article, for the long-term development of the crypto industry, it is critical to have giant and well-known institutions and companies to incorporate into the crypto ecosystem and escalate the awareness of the asset class.
Moreover, the recent integration of Opera’s crypto buying feature introduces a small step in the direction of improving digital assets’ adoption in major markets. However, improbable in the short-term, some analysts feel it may also lead other prime browsers in the long-term to integrate crypto provided that, as Twitter CEO Jack Dorsey thinks it likely that, Bitcoin or any other digital currency turns into the native currency of the internet.
SamMobile and other news outlets claim that South Korea’s largest company, Samsung, is reported to add a crypto wallet, possibly led by the Samsung Pay app.
On top of that, if there is a continuation on Opera’s initiative to add features on its platform relevant to cryptocurrency and Samsung Pay organizes the application of a crypto wallet, the asset class would gain mainstream attention to two large markets in the browser operator and digital device markets.
Charles Hamel, in an official statement, said:
“We think that the next important phase for crypto will come from usage and that for it to reach wider adoption, it has to be easy to buy and easy to use. We believe that the browser will be the entry point for these use cases.” (Charles Hamel)
Lastly, another crypto-centered browser called ‘Brave’, is expected to have active users in the millions and content creators who are given incentives for the use digital assets.
Do you also believe in the power of these big names for the mainstream adoption of Bitcoin? Tell us what you think in the comment section below!