Xellar: The anti-wallet wallet company
What exactly is a wallet? By legal definition if we were to call ourselves a wallet company in Indonesia, we would be required by the ministry of finance to have a electronic money license. They would categorise us as a money transmitter, which to some extent weare, but not in the conventional way.
At Xellar we have been working very hard to figure out how we add value to this world (our mission). In some senses, too hard that we sometimes get lost in the details.
But one thing remains true, Xellar is a wallet company, whatever that means - which advertantly requires us to (1) Ensure security is the utmost priority, and (2) advance the web3 usecase.
If I were to explain to you all the nuances about wallets, we would be sitting for hours talking about seed phrases, private keys, multisig and why cold wallets are important. As a builder, I take pride in what I build, but when my close friends and family (who know nothing about crypto) download my app, to support me - we always come to where after they download, they say “ok whats next?” - and I reply “now you can hold tokens!”.
Which is almost pointless for someone new who has no tokens. So we end up discussing the theoretical use cases - which even as a founder of wallet company, I think is a moo-point.
For some reason wallet is the most important technology in Crypto, but you can download a wallet and almost have no reason to use it. For someone who has no idea about Crypto - whats the point.
As a Web3 native, I can’t think about a more important mission than to bridge Web2 into the web3 industry. But the Web3 world is filled with technocolour and thus even then wallet (the gateway into web3 world) can be useless to a uneducated user.
Personally, I think its naive to believe that people need to become more educated about web3, rather I believe it is our responsibility as builders to dumb down our products so that people can use it.
And so overtime, I realised that this is what Xellar’s mission is. To advance the wallet use case, by creating simple, dumb wallets. I like the catch phrase “the anti-wallet wallet company” - I hope I don’t get sued for stealing this. But I think it’s a true description of who we are. Sure we do create wallets, but not the wallets that Web3 people think (ergo Anti-wallet), but rather the wallets that need to exist to advance the Web3 use case - in the hope that one day someone who knows nothing about Crypto will download (or login to) a Xellar wallet and be blown away with everything they can do with Web3, without needing to understand a thing.
