According to a press release and the Foundation for Interwallet Operability website, Mycelium is the latest addition to the the foundation’s membership.

Other members are currently: ShapeShift, Coinomi, KeepKey, BRD, and Edge. The majority of these are wallets, but ShapeShift, as readers are probably aware, is an exchange which allows users to instantly “shift” between cryptocurrencies. It used to require no account but in more recent days user accounts have become a requirement.

FIO Introduces Human Readable Addressing

The Foundation for Interwallet Operability is a standard body of sorts and it governs the FIO Protocol, a protocol that “will provide an enhanced layer of usability features for existing and future wallets and exchanges.” Its goal is to increase blockchain adoption and the userbase of cryptocurrencies generally by encouraging ease-of-use of lack of friction in wallet and exchange designs.

The FIO protocol is being developed by Dapix. What it will enable is essentially universal addresses across wallets and exchanges which support the protocol. So two users with different wallets that both support the FIO protocol will be able to send assets between each other simply using FIO addresses. The addresses will be “human readable,” meaning you essentially use your real name as a means of receiving cryptocurrency, if you like.

When users register a FIO address, they are issued a FIO private key, which means it can be transferred between wallets. Just as users who control private keys of cryptocurrencies own those cryptos, users who control the private keys of their identity in the FIO system will own their identity. This means that basic security protocols will need to be followed by users in order to ensure security. The addressing system is just one of the features that FIO will make possible.

Erik Voorhees, CEO and founder of ShapeShift, has tweeted about FIO, calling it a “glimpse of the future.”

 

FIO Demonstrated on BRD for iOS

Here is the video he talked about in his Tweet, in which member wallet BRD integrated the protocol:

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