From diverse cultures to delectable food to friendly locals, there’s a lot to love about Southeast Asia. But even stronger than RedFOX’s adoration for the region is the territory’s devotion to connected mobile devices.
Now, if you caught our previous article about the RFOX mobile crypto wallet, you know how critical it is for us to maximize crypto security. And lucky for us, we’ve got Hacken on our side to help maintain constant vigilance against bad actors.
In addition, the article hinted at Southeast Asia’s prolific rate of mobile Internet connectivity. And in case you’re still wondering how a group of countries can have a mobile adoption rate that climbs above 100%, we’ll fill you in.
How is this possible? Because the calculations factor-in the people employing more than one SIM card. For example, if you have two SIM cards, your score is 200%.
The globe’s average mobile Internet connectivity was 108% in January 2017. In contrast, Southeast Asia’s average reached 133%.
While SEA surpassed the rest of the world by 19% only two years ago, the region shows no intention of slowing down. Plus, as technology continues its rapid global evolution, handset prices decrease.
And lower prices throughout emerging markets lessen the gap between the connected and the disconnected. Which, in turn, provides RedFOX with additional opportunities to introduce people to our ecosystem of blockchain-powered products.
You see, our aim is for most residents of Southeast Asia to walk around with our mobile crypto wallet in their pocket. We willingly concede all — very few businesses can ever expect to achieve a 100% penetration rate.
Although our wallet is currently undergoing security checks, that has no bearing on our plans for the future. In other words, we have big ideas for our upcoming product.
Because let’s face it, there are plenty of crypto wallets available today. We must set ourselves apart by making a consumer-friendly product that people want to use on an everyday basis. And we intend to rise above the noise by packing our wallet with an irresistible set of features.
The $RFOX Mobile Crypto Wallet
Our digital stashbox lets everyone store, send, and receive almost every cryptocurrency in existence. And while hold, give, and get are the core functions of most crypto wallets, most limit themselves to a small subset of digital assets. For example, some stash a single coin or token only.
But the RFOX wallet goes beyond traditional functionality. You see, in addition to deposits and withdrawals, what sets our digital purse apart from the rest is the ability to trade.
However, we’re not talking about the ability to trade $RFOX coins. Limiting the wallet to a single currency would be a disservice to the technology we have on tap. And that ability comes courtesy of Komodo Platform.
The Atomic DEX
The primary difference between centralized exchanges (CEX) and their decentralized counterparts (DEX) boils down to private keys. On a centralized exchange — Liquid, for example — you have zero true ownership of your wallets.
Why? Because the exchange owns the private keys and you don’t. It’s as simple as that. Do you remember writing down a 24-word seed phrase when opening an account on any given CEX? No, you don’t because the CEX essentially did that for you.
But with our solution, you own the private keys. And, KMD tech allows us to bake a DEX right into the RFOX wallet.
Secure, Universal Crypto Trading
One of Komodo Platform’s core technologies is interoperability. Because KMD’s ecosystem supports atomic swaps and cross-chain smart contracts, most crypto networks are linked together.
95% of digital assets flowing throughout the cryptocurrency industry — literally 1,000s of coins and tokens — are swappable from within the RFOX wallet.
And because they communicate, these networks can exchange assets. That means that every token, coin, and NFT (Non-Fungible Token) within our wallet is P2P tradeable. You always maintain control of your private keys, unlike a CEX.
Plus, wallet-to-wallet trades are quick, cost-efficient, and as safe as possible. Our mobile DEX essentially turns your smartphone into a hardware wallet — widely considered the gold standard of crypto security.
Blockchain Gaming Integration
Games and blockchain tech go together like curry and rice. And with Arclegger heading up our gaming division, as well as a partnership with Komodore64, the RFOX wallet will soon make its way into videogames.
The first official RedFOX venture is in the gaming space. And we can’t reach the next level without in-game wallets. How else can gamers swap their NFTs?
Coming soon to a blockchain game near you : in-game transactions taking place on the RFOX network. Swap gear and characters and abilities, without leaving the game to trade within an external marketplace.
Mobile crypto wallets are the bridge between centralized and decentralized financial systems. Citizens in emerging markets are often unbanked or underbanked.
And a wallet on your phone unlocks the ability to take greater control of your customized financial ecosystem. Transfer value on your terms, without permission from central banks or governments.
We’re excited to see the RFOX wallet connect our network to crypto holders all around the world. And that sentiment is doubly true for the citizens of SEA, who are huge fans of not only mobile connectivity but videogames as well.
Accelerating blockchain adoption involves targeting methods in which people are already interacting with technology. Most everyone using a smartphone knows how to download an app.
And since vast numbers of SEA’s smartphone users are also gamers, we aim to make them feel right at home using our wallet, whether gaming or not.
The idea is to create a mobile wallet that runs on blockchain but feels so familiar that the user has no inclination they’re even transacting on a crypto network. Then and only then will we consider the RFOX wallet a success.
We’re building an intuitive, user-friendly product acting as a simple gateway to cryptocurrencies. And no matter if you’re a crypto novice or veteran trader, we can’t wait to get our wallet in your hands.