Svalkey

Demo

About

The problem it solves **Why Web3 Wallet Are Not for Everyone (Yet)** Web3 Wallet are still not suitable for everyone, especially non-crypto users. Here’s why. 1. Lack of knowledge (Entry Barrier) We conducted a simple survey among non-crypto users who actively use mobile banking and payment apps. When we asked about Web3 or blockchain, none of them were familiar with the terms. This shows that the entry barrier already exists even before users interact with a Web3 Wallet. 2. Negative stigma (Mental Barrier) Interestingly, when we asked about Bitcoin, most people recognized it, but with very different interpretations. Some saw it as crypto, investment, or trading. Others associated it with money laundering or scams. Once a stigma is formed, users develop a mental barrier that prevents them from understanding what a Web3 Wallet actually is and how it works. This insight is one of the reasons we intentionally use the term **DeWallet**, avoiding words like Web3 or crypto and focusing on wallet functionality. 3. High complexity (Usability Barrier) For first-time users, using a Web3 Wallet can feel overwhelming. Recovery phrases, gas fees, bridges, chains, and unfamiliar interfaces create confusion. Learning how to use a Web3 Wallet often requires trial and error, which involves real financial risks. As a result, many users give up early. 4. Language (Language Barrier) Most Web3 Wallet use English and are filled with technical terminology. Not everyone is comfortable with English, which further limits adoption among non-crypto users. **Our Solution** 1. Localization first We are building a DeWallet that uses local language, starting with Bahasa Indonesia. Clear and familiar language helps users feel confident and reduces the fear of making mistakes. 2. Familiar approach Instead of positioning DeWallets as investment or trading tools, we introduce them in a way that feels similar to e-Wallet. And what make it different is users can hold stable currencies (like USD or EUR via stablecoins) while comparing the experience to traditional banking. This significantly lowers psychological resistance. *> Note: While stablecoins are not currently a regulated payment method in Indonesia, Svalkey is built with flexibility in mind, ready to support future innovations like Bank Indonesia’s Digital Rupiah (CBDC).* 3. Reduced complexity Rather than offering many entry points into Web3, we focus on one clear door as the first experience: Base Chain. This enables: - Simple onboarding for beginners - No chain confusion - Consistent user experience - Strong security from on-chain infrastructure Additional features include: - IDRX as the main token for deposits, exchanges, and withdrawals - Built-in fiat on-ramp and off-ramp - Support for future digital assets, including CBDC By limiting unnecessary choices, users focus on usage rather than technology. 4. User security and safety Security should not feel complicated or intimidating. - Smart wallet with recovery options Smart wallet system with two recovery methods. Users can access or recover their wallet using email or a private key. - Transaction confirmation with PIN Before confirming any transaction, users must enter a PIN. This adds an extra layer of protection and prevents unauthorized transfers, even if someone gains access to the user’s phone. - Transaction limits Users can set transaction limits to reduce risk. This helps protect against theft, scams, or accidental transfers, such as sending funds to the wrong address or entering an incorrect amount. - Restricted token visibility Only selected and verified tokens can be searched and used inside the app. This reduces exposure to fake tokens, scam assets, and phishing attempts that often target new users. - No External Wallet Connections Does not connect to third-party platforms, dApps, or external wallets by default. This significantly reduces exposure to phishing, malicious contracts, and wallet-draining attacks that commonly affect new users.