Interview With Victor Zhang, CEO of AlphaWallet

Tokens can do a lot of things, but AlphaWallet founder Victor Zhang thinks they can do more. His company has built a mobile wallet that supports traditional uses of Ethereum tokens, but they’ve also built a scripting engine that can take tokens and make them “smart.”

Tokens can do a lot of things, but AlphaWallet founder Victor Zhang thinks they can do more. His company has built a mobile wallet that supports traditional uses of Ethereum tokens, but they’ve also built a scripting engine that can take tokens and make them “smart.”

Victor Zhang, CEO of AlphaWallet:

“I hope the Web3 space focuses more on other benefits that can be introduced to users beyond privacy. I don’t think privacy will be a real selling point to normal consumers. But frictionless markets are real benefits that can be sold to normal users.”

The token economy is a major part of what drives Ethereum. We’ve seen tokenized versions of trading cards, shoes, and even sports contracts. We’ve also seen tokens developed to represent a stable currency. This has helped create the decentralized finance (DeFi) market. Tokens can do a lot of things, but AlphaWallet founder Victor Zhang thinks they can do more. His company has built a mobile wallet that supports traditional uses of Ethereum tokens, but they’ve also built a scripting engine that can take tokens and make them “smart.”

Founded in November of 2017, AlphaWallet offers both their mobile wallet and a scripting language that enhances the existing capabilities of smart contracts. TokenScript, as they put it, “makes tokens smart.” TokenScript extends the capabilities of tokens by integrating into the underlying smart contract and offering rich features that end users and developers can use in addition to simply paying for things and representing real-world assets. AlphaWallet has raised $2.3 million to help them achieve these goals.

We had the chance to talk with Victor about his experience in Web3. We discussed DeFi, blockchain, and building for businesses versus building for end users.

How do you define growth?

For us, we tried three different growth paths. This is because we deal with three parties: the mobile consumer, the developer, and the business. The businesses are the people who have the authority to tokenize the rights. When we started focusing on developers, we didn’t have much luck. When we focused on consumers, trying to use existing smart contracts and make them more user friendly, writing a TokenScript file, we also didn’t have a lot of success. The user base was too small. So in the middle of last year, we started focusing on businesses to help them tokenize the rights to things they have the authority to tokenize. By doing that, we create a b2b2c platform and their users become our users.

What has been the most difficult part of growing your company so far?

I think everyone in the industry is facing a similar issue. It’s the construct of blockchain technology itself. For blockchain, if I’m the only person using the technology, there’s no benefit. It requires the involvement of multiple parties and that makes it more difficult to grow a company. When we partnered with businesses, we realized there were built-in users there for us.

The main challenge for us is we cannot develop all the technology in one run. So, we have to gain market share while also continuing to build.

What do you think needs to happen to overcome these issues?

I think the best thing is focusing on the token itself rather than the dapps. Dapps just use tokens, so if you don’t have good value to tokenize, there won’t be useful applications. All we will be left with is crypto-native tokenized rights like cryptocurrencies themselves. We need to try to bring in more businesses that can tokenize rights and that will help grow the market.

What tools do you wish were there to help you grow?

Messaging is definitely a must-have tool. It’s high up on our technology wish list but we haven’t decided what protocol to use.

What are your predictions for Web3/Blockchain growth in 2020?

I hope the Web3 space focuses more on other benefits that can be introduced to users beyond privacy. I don’t think privacy will be a real selling point to normal consumers. But frictionless markets are real benefits that can be sold to normal users. For example, after you tokenize rights, each token can become an open API. This gives anyone the ability to integrate without going through a gatekeeper.

Samantha Brown

Author: Samantha Brown

A writer on SimpleId.

26 thoughts on “Interview With Victor Zhang, CEO of AlphaWallet”

  1. Do you think the average user will be interested in the additional benefits of tokens beyond privacy?

    1. As a translator, I have observed that users are often more interested in the practical and convenient aspects of technology rather than just privacy. I agree with Victor Zhang that privacy may not be a significant selling point for normal consumers. However, the potential for frictionless markets and other benefits can definitely attract the attention of average users.

  2. I hope the Web3 space focuses more on other benefits that can be introduced to users beyond privacy. I don’t think privacy will be a real selling point to normal consumers. But frictionless markets are real benefits that can be sold to normal users.

  3. I hope the Web3 space focuses more on other benefits that can be introduced to users beyond privacy. I don’t think privacy will be a real selling point to normal consumers. But frictionless markets are real benefits that can be sold to normal users.

  4. “I believe Victor Zhang has a valid point. Instead of solely focusing on privacy, the Web3 space should emphasize other benefits that regular users can appreciate, such as frictionless markets. This approach will have a better chance of attracting normal consumers.”

  5. “I totally agree with Victor Zhang. Privacy may not be a strong selling point for normal consumers, but the concept of frictionless markets is something that can really attract them. It’s important for the Web3 space to focus on creating user-friendly experiences.”

  6. “I completely agree with Victor Zhang. While privacy is important, normal users are more likely to be attracted to the convenience and efficiency of frictionless markets. The ability to seamlessly trade and utilize tokens is a major selling point for the Web3 space.”

  7. I hope the Web3 space focuses more on other benefits that can be introduced to users beyond privacy. I don’t think privacy will be a real selling point to normal consumers. But frictionless markets are real benefits that can be sold to normal users.

  8. I appreciate Victor Zhang’s perspective on the Web3 space. I agree that privacy may not be the main selling point for normal consumers, but the idea of frictionless markets is definitely appealing. It would be great if the token economy can bring more benefits to everyday users.

  9. “I believe Victor Zhang is right. Privacy may not be a strong selling point to regular consumers, but the benefits of frictionless markets can definitely attract them. I think focusing on those benefits will drive more adoption in the Web3 space.”

  10. Do you think the average user will be interested in the added benefits of tokens beyond privacy? Isn’t privacy a major concern for most people?

    1. I believe the average user will be more interested in the added benefits of tokens beyond privacy. While privacy is important, I think there are other benefits that can be more appealing to normal consumers. Frictionless markets, for example, would be a real selling point for them.

    1. I believe privacy is indeed important for normal consumers, but it may not necessarily be the main selling point. While some users highly value privacy, the majority of normal consumers are more interested in frictionless markets and seamless user experiences. These benefits have a more significant impact on their everyday usage and adoption of tokenized technologies.

  11. I hope the Web3 space focuses more on other benefits that can be introduced to users beyond privacy. I don’t think privacy will be a real selling point to normal consumers. But frictionless markets are real benefits that can be sold to normal users.

  12. I agree with Victor Zhang. While privacy is important, focusing on other benefits and frictionless markets will have a stronger appeal to normal users in the Web3 space. Excited to see what AlphaWallet can do!

  13. Do you think the mass market will be interested in the benefits beyond privacy that tokens can offer?

    1. Yes, I agree with Victor Zhang. I don’t believe privacy will be a significant selling point to ordinary consumers. However, frictionless markets are real benefits that can be marketed to normal users.

  14. I hope the Web3 space focuses more on other benefits that can be introduced to users beyond privacy. I don’t think privacy will be a real selling point to normal consumers. But frictionless markets are real benefits that can be sold to normal users.

  15. I agree with Victor Zhang. Privacy may not be a real selling point to normal consumers, but frictionless markets are definitely something that can attract them. The token economy has the potential to revolutionize various industries and improve user experiences.

  16. I hope the Web3 space focuses more on other benefits that can be introduced to users beyond privacy. I don’t think privacy will be a real selling point to normal consumers. But frictionless markets are real benefits that can be sold to normal users.

    1. Yes, the scripting engine in AlphaWallet not only makes tokens more secure but also significantly improves their efficiency. By enabling smart contract functionality, our scripting engine allows tokens to perform complex transactions and operations autonomously, eliminating the need for manual intervention and increasing the overall security of token interactions.

  17. I hope the Web3 space focuses more on other benefits that can be introduced to users beyond privacy. I don’t think privacy will be a real selling point to normal consumers. But frictionless markets are real benefits that can be sold to normal users.

  18. I hope the Web3 space focuses more on other benefits that can be introduced to users beyond privacy. I don’t think privacy will be a real selling point to normal consumers. But frictionless markets are real benefits that can be sold to normal users.

  19. I hope the Web3 space focuses more on other benefits that can be introduced to users beyond privacy. I don’t think privacy will be a real selling point to normal consumers. But frictionless markets are real benefits that can be sold to normal users.

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