Cardano ($ADA) Founder: Lace Wallet is IOG’s view of how crypto should be done

In a recent interview, Charles Hoskinson, co-founder and CEO of Input Output Global (aka “IOG”), the blockchain technology firm behind Cardano’s R&D, explained what’s special about the $ADA “Lace” wallet.

Lace, which is a Cardano wallet developed by IOG, is currently in beta stage. According to IOG, it “brings together a wealth of Web3 features, from digital asset management, to access to NFTs, DApps and DeFi services, so you can discover and enjoy a new world of digital experiences.”

Hoskinson’s comments were made with Peyton Winget, co-founder and CEO of Bloom Pool LLC (as well as founder and CEO of Atirum Lab), at the “Rare Bloom” event in Denver, Colorado (October 14-15, 2002) ) , which was hosted by the Cardano community at the Gaylord Rockies Resort and Convention Center.

When asked about Lace, Hoskinson said:

“I thought a lot about how do we get Cardano to a billion users? How do we make the ecosystem become the world’s financial operating system?…

“What is the consumer interface? What’s the portal that a billion people want to do things on, whether they’re playing with NFTs, they’re issuing assets, they’re doing DeFi stuff, they’re playing video games, there’s identity components, estate planning components that manage billions of dollars, security tokens, all these kinds of thing.

“So, about last year, we said let’s start a research project to imagine what a portal and interface to all these use cases would look like to go beyond what a regular cryptocurrency wallet does. So, an identity-first wallet with full node security, but light enough to be on a phone…

“We put some of our best people together. We took a lot of great new technologies like Mithril and Atala PRISM and a lot of older stuff that we found in the cardano ecosystem and we brought it all together and now Lace as a product is starting to come to market.

“It is one of our first commercial B2C products and therefore it is not a reference client. It’s not like Daedalus, which is a neutral playground, but rather this is IO’s view of how crypto should be done, and our hope is that it will kind of push the standards for our whole ecosystem, make every wallet Mithril-enabled , get people to really start getting identity seriously, talk about certified wallet standards and these kinds of things.

“It is a browser-based interface. It will eventually come to your cell phone and desktop and every step of the way. It is innovative as much as it can be. So we’re really excited to demonstrate that, build a beta movement around it with some pioneers, and hopefully we’ll be able to translate that into a very successful ecosystem that can bring in everyone, not just the crypto enthusiasts, but the whole space.

“There will also be cross chain. So it’s not just Cardano. It will support Bitcoin, Ethereum and many other ecosystems and showcase what we have created as an ecosystem for the rest of the cryptocurrency space in that regard.“