1:
Have a secure mode function for the app:
So have like 3 factors of authentication, apart from your pin/login ask for a biometric(thumbprint) and 2FA authentication code (Google/Microsoft Authenticator).
Have a section of your wallet be able to be secured by these extra levels of protection.
This way you could have 1000 ETN in secure mode and 10-20 ETN in basic wallet mode so that way the extra secured ETN can only be spent/transferred with both a biometric and 2FA code.
This will improve security.
2:
Link security of electronem wallet to blockchain record of electroneum. (I.E: If a major loss occurs on the online wallet a hard fork of the blockchain or online transaction records can be done. This provides extra security and makes it possibly one of the most secure cryptocurrency solutions as any hack can be corrected. Also as hackerone help secure Electronem having state of the art security as much as possible & having the 3FA secure mode would reduce the likelyhood/frequency of ever having to do this by a great margin. This is a real selling point. This would only be for the official electroneum wallet.
3: Turn the wallet into a way to purchase ETN from your bank account (BPAY, Bank Transfer, etc…):
This would give purchasing access of ETN to millions of users and also with ultra low fees it would save ETN users costs of purchasing ETN as they dont have to pay the BTC/USD(Or Other Fiat) fees and then transfer fees & other trading fees to finally get ETN and store it safely. Just one low 0.1% or 0.05% or less fee.
-
Allow hedging of ETN in the wallet against USD or other major national currencies:
Allow users of the Electroneum wallet to hedge some of their funds against the USD/EUR etc to avoid volatility. No fees would be in places to trade your ETN for USD and back again. Only fees would be charged if you sell your ETN and not hedge it. -
Zero Fees:
Have zero fees for transactions via the official electroneum hybrid online wallet. Having zero fees is a bonus and good selling point for this cryptocurrency. This is absolutely neccesary to convince merchants to sign up as it will save them more money over Credit Card and other types of payments. -
Convince merchants to discount their products if people pay via ETN. And also allow real time settling of ETN to USD via the implemented ETN exchange that has been added to the app. By convincing merchants to discount their products if payed in ETN and offering real time settlement the advantages are clear. We can then have a goal of putting a pay with ETN for 2% discount on every ecommerce site on the web. This is what mass adoption is about.
All of these ideas are 100% crucial and not having them would not make sense in my opinion.
Thank you for your time.
From:
- An Unofficial Electroneum Team Member:
Nigell Lai
