Microsoft has reportedly experimented with blockchain technology for many years and added code that integrates a non-custodial cryptocurrency wallet into the company’s default Edge browser, according to screenshots shared on Twitter by Albacore, a pseudonymous software researcher from central Europe.
The screenshots depict a user interface for a cryptocurrency wallet, a decentralized application explorer, a news feed and the ability to buy cryptocurrency through Coinbase and MoonPay. The enhancement is already baked in to recent releases of the Microsoft Edge browser, but it is hidden and not accessible to users.
Albacore cautions that Microsoft builds and tests a lot of things that never see the light of day. However, she said the Edge wallet functions correctly and added that she would hope that if it was a tiny trial they wouldn’t bother deploying the services to production.
Microsoft’s foray into crypto wallets may be an attempt to offer similar products to Brave Browser, the privacy-focused browser that also provides Web3 functionality, however, Microsoft has not confirmed any aspect of its Edge crypto wallet development.
Beyond its own blockchain designs, Microsoft has also worked with others to move into this emerging industry, including leading a $20 million strategic round into Space and Time, a Web3 data warehouse, in September.
If Microsoft decides to launch its own cryptocurrency wallet, it would be joining a crowded field of established crypto wallets that includes Coinbase, Exodus Wallet and Ledger Wallet, among many others.
The addition of a cryptocurrency wallet to the default settings of a mainstream web browser would give millions of people easy access to the world of cryptocurrencies, and would undoubtedly provide a further boost to the adoption of this innovative technology.
In general, there is a growing realization that blockchain technology, and the cryptocurrencies that it powers, will underpin a new, decentralized global financial system that is more secure, efficient and transparent than the current fiat-based system.
This shift towards decentralization is already well under way, with cryptocurrencies now being used for everything from online shopping and remittances to efficient and versatile fundraising mechanisms for new startups and entrepreneurs.
As the adoption of cryptocurrencies continues to grow, more and more big players are entering the space. Global companies such as Visa, PayPal, Mastercard and now Microsoft are successfully integrating cryptocurrencies into their existing services, which is further boosting the mainstream acceptance and adoption of this exciting technology.
It is likely that we will see even more big players enter the cryptocurrency space in the coming months and years, and the future of money, finance and banking is certainly set to be very interesting indeed.
