FIO Protocol to Fix Crypto Users’ Fear Hesitating BTC Payment


Over the last couple of months, a good number of the Cryptocurrency wallet and exchange providers have joined the Foundation for Interwallet Operability (FIO protocol). The foundation focuses on improving the digital currency operability as it believes the user experience (UX) for the cryptocurrencies is poor and the majority of the wallets cannot handle payment requests between wallets. On 12th of March 2019, a published research study by FIO suggested that 60 percent of the crypto users are still under utmost fear to make a Bitcoin payment and roughly 11 percent of the surveyed who used crypto last year did use crypto over once a week.This is indeed an eye opener as the currency have made quite inroads into a lot of industry.

Back in November, the Foundation for Interwallet Operability introduced the FIO protocol in order to make the sending and receiving of the crypto payments as seamless as possible for the users. A lot of wallets and exchanges have then joined the initiative of FIO such as BRD, Edge, Mycellium, Mycrypto, Keepkey, Coinomi and Trust Wallet. The FIO protocol is in the attempt to make the existing actions easier, more versatile and data rich. In the survey, over 200 Cryptocurrency holders were surveyed where the participants were asked about the frequency of their Cryptocurrency

transfer as well as their experiences dealing with the assets. The report is a part of the FIO’s ongoing research for discovering the trends on blockchain usability and overall user experience. The study noted that though 60 percent of the respondents were pretty uncomfortable using Bitcoins as their payment method still there was a steep rise in the percentage of the individuals using the Bitcoins as their payment method. After the study has been published, the foundation noted that the blockchain usability requires deliberate improvements while FIO is just a piece of the puzzle.


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