Corporate Finance, DeFi, Blockchain, Web3 News
Corporate Finance, DeFi, Blockchain News

Foundation for Interwallet Operability (FIO) protocol successfully integrates ShapeShift, Coinomi, ChangeNOW and Mycelium

Support from leading industry service providers aims to remove friction and improve security for cryptocurrency transactions.

• Integration with mainstream service providers set to improve cryptocurrency usability and increase adoption
• Integration will create the potential for millions more people to use FIO protocol

The Foundation for Interwallet Operability (FIO) has today announced the game-changing integration of leading wallets and non-custodial service providers, ShapeShift, Coinomi, ChangeNOW and Mycelium. The use of FIO protocol will now be extended to over a million more cryptocurrency users and enables people to participate in the blockchain ecosystem without needing complex public addresses.

Research conducted by FIO identified that of those people who had used cryptocurrencies for transactions, 55% had at least one or multiple concerns regarding the security of their transfer. The most common issue for concern was the accuracy of complex public addresses where 35% of respondents cited concerns and 24% expressed worry that the public address for their transaction could be manipulated, overall 17% of users felt a general level of anxiety regarding a sent transaction.

Luke Stokes, Managing Director, FIO: The FIO protocol aims to make cryptocurrency transactions as easy and reliable as online fiat transactions currently are. The future of finance should be a joyful experience for the mainstream public. Although interest in cryptocurrencies has grown enormously, legitimate concerns regarding security, ease of use and accountability continue to prevent mass adoption. As an asset class, cryptocurrencies are viewed as complex, insecure and owned by elites, FIO was designed to change this.

The integration of FIO by Mycelium will only be on the testnet and go live in November, for ShapeShift, Coinomi and ChangeNOW the integration is live. The integration of FIO by ChangeNOW ensures exchanging crypto is easier and more secure as there is no need to copy blockchain addresses and worry about problems recognising different ledgers as they are linked to a human-readable FIO name. FIO’s crypto domain solutions ensure all transactions between users are private, encrypted, traceable and easy to remember for third parties.

About FIO
The Foundation for Interwallet Operability (FIO) Protocol is a protocol that enables easier crypto services so anyone can integrate products and enjoy a consistent user experience leading up to a transaction. The FIO protocol underpins FIO addresses to a human identifiable wallet consisting of a user domain and a wallet that anyone can read and remember. Addresses are automatically mapped to every cryptocurrency linked to your system. Secure and encrypted, only the info exchanged between users is readable. Many of the industry’s leading service providers such as Mycelium, ShapeShift, Coinomi and ChangeNOW have integrated the FIO protocol.

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Jeudi 5 Novembre 2020