Savl Wallet does everything you’d expect from a self-custodial crypto wallet i.e. the ability to buy, sell, swap and store all with complete asset control and private key ownership, In an exclusive interview with BitcoinWorld, We discussed what is its Savl Wallet is all about, & How it is different from other wallets ?

 

As COO of Savl, could you give us an overview of the platform and its key features that set it apart in the crowded space of crypto and Web3 wallets?

So, at its core, Savl Wallet does everything you’d expect from a self-custodial crypto wallet i.e. the ability to buy, sell, swap and store all with complete asset control and private key ownership, built-in with an exceptionally clean and intuitive user interface (UI) and therefore great user experience (UX). Where our offering differs is the abundance of additional features not found in other wallets. These include a built-in community, end-to-end encrypted messenger, sub-accounts so users can better manage and organize their assets, KYT address risk assessment checks, a multi-blockchain WalletConnect integration giving users access to 1000s of decentralized applications (DApps), staking services, NFT browser lastly, the ability to use your crypto for practical purposes through our goods integration where users can buy over 4,000 products and services in nearly 200 countries.

Savl integrates unique functionalities like an encrypted messenger and Know Your Transaction (KYT). How do these features enhance user experience and security?

Our zero-knowledge encrypted messenger service helps users communicate directly with each other about specific trades or transactions or simply so they can share important information or exchange ideas. Our KYT feature is really about helping users transact more ethically and therefore more securely. It’s an important tool to help augment users' security. Our KYT feature is ultimately about blockchain intelligence whereby we allow users to copy and paste any wallet address to get back a full risk assessment. This ultimately lets the user decide if they want to accept potentially high-risk/tainted funds into their wallets which might lead to exchange blacklisting or have other repercussions.

With robust security measures such as 24-word recovery phrases and FaceID authentication, what challenges does Savl face in balancing high security with user friendliness?

With all matters financial, security is the most important factor. There is always a danger with less experienced users that security can create too many obstacles in terms of ease of use and overall user experience. So the balance is really about having enough security but ensuring  user interface design that promotes accessibility. By working with native features within say the iOS or Android environments, we can make access seem less daunting while still ensuring security is always present.

Considering your extensive background in digital media and anti-piracy, how do you see decentralized technologies like blockchain transforming content distribution and rights management?

I think blockchain technologies have the potential to make digital rights management (DRM) and distribution far simpler, and this is already happening with start-ups like Flixxo which offer a decentralized content distribution platform, enabling content creators to reach specialized audiences, who pay with cryptocurrency tokens to both fund and access content.

Blockchain technologies have the potential to revolutionize the way digital content is created, distributed, stored and consumed, and can potentially revolutionize the landscape for content creators by granting them unparalleled oversight and authority over the usage and distribution of their media assets.

By leveraging blockchain technology, creators can effectively eradicate piracy and copyright violations, ensuring their intellectual property remains safeguarded while enabling the seamless peer-to-peer management and distribution of their content while fostering a more equitable ecosystem for all stakeholders involved.

From a DRM perspective, blockchain is ideally suited for verifying who has the permission required to view, stream, or download certain content. Additionally,  content owners can easily set and modify permissions on a case-by-case basis. Blockchain was the solution we always needed from as far back as the late 1990s when DRM was the biggest challenge for content creators and owners.

Of course, BitTorrent is still an ideal decentralized technology for the distribution of large files or any type of content. When merged with blockchain technology, you get the killer solution for storage, distribution and DRM.

You’ve had a pioneering career in digital media and now crypto. What motivated your transition from digital media to the blockchain industry?

It was never intentional. I just like to be where the innovation is and unfortunately, with the music industry, I was too early. I have always loved the fact that technology makes decentralization possible and my experiences with peer-to-peer technology and anti-piracy seemed to lead me towards other decentralized technologies.

As COO, what are your primary strategies for driving growth and adoption of the Savl wallet globally?

We are very heavily focused on product development and having the best UI and therefore, UX in the business. Additionally, we want to have the most feature-packed self-custodial wallet on the market, and we are pretty sure that we do already – nobody packs as much into a single wallet app as we do. We want our app to appeal to newbies and seasoned enthusiasts alike and in the case of the former, making transactions as simple as possible is key in respect to the latter, offering users the tools and features they need to do more with their assets is essential.

How does Savl’s advanced WalletConnect integration work, and what opportunities does it open for users in the Web3 ecosystem?

With WalletConnect, we have gone above and beyond to integrate with different blockchains to offer users maximum choice within the decentralized application (DApp) ecosystem. For example, we have a full Ethereum integration including with layer 2 (L2), Polygon, Optimism, Base, Arbitrum, and more recently, Solana. With WalletConnect, users can securely connect thousands of applications to their wallets within Savl wallet and add extended functionality. For example, there are DApps for DeFi borrowing and lending or for NFTs and games and virtual goods. Simply put, our WalletConnect integration offers limitless possibilities within the Web3/DeFi ecosystem.

Are there any upcoming features or partnerships for Savl that users should be excited about?

We’re adding new currencies all the time, and we have some very exciting features in the pipeline. Watch this space!

For users new to cryptocurrency and Web3, what advice would you give them when choosing and using a crypto wallet?

The single most important piece of advice is to make sure that your wallet is self-custodial i.e. you actually own your crypto assets and private keys (security). This is vital. The other piece of advice is to ensure your wallet offers a great selection of the leading cryptocurrencies, stablecoins and support for the most important fiat (traditional) currencies like USD, GDP and EUR for example.

How do you envision the future of digital asset management evolving, and what role will Savl play in this landscape?

It is likely, as with all nascent industries, that consolidation will take place. So we think the strongest players, currencies and platforms will survive, and many will go away. In other words, survival of the fittest. We also believe that the space will continue to face regulatory challenges and scrutiny, but in the end, the regulators must and will prevail if crypto is to be truly accepted and adopted and bad actors vanquished.

As for Savl’s role in this space, we want to help democratize crypto by making it easy for everyone to participate and we also want to ensure that our ethos resonates with users i.e. that is to say that ethics matter in terms of who you transact with and ownership is a right and not a privilege.

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https://bitcoinworld.co.in/an-interview-with-savl/