The brave browser is expanding its scope beyond adtech, according to the company’s CEO. He made the comments during the Web Summit that took place in Lisbon a week ago. According to him, the company is seeking to move into the e-commerce sector but with a strong focus on cryptocurrency.
The Brave Browser is a privacy-focused web browser that has a major focus on the cryptocurrency space. It has done exceptionally well lately and it now has over 9 million active monthly users. The browser recently rolled out its ad platform to 20 new countries around the world. It is already causing waves in the adtech sector, where it claims it aims to give power back to content creators.
How It Works
Brave is based on Google Chrome and is powered by a native token called Basic Attention Token (BAT). It comes with an in-built blocker that blocks tracking scripts, ads, and any technology used to spy on you while you are online. As a result, almost all ads will be blocked. However, Brave does allow you to receive optional ads as desktop notifications. If you opt to view those ads, you will get a share of the revenue that Brave is paid. You can then opt to tip the content creators with your BAT tokens.
Entering the E-Commerce Space
According to the company’s CEO, the company has managed to grow an ecosystem based on the BAT token. The CEO noted that they had plans in place to facilitate the sending of various cryptocurrencies to merchants using the native Uphold wallet that already supports cryptocurrencies such as BTC, BAT, and ETH. Ultimately, the Brave browser wants to allow users to not just tip content creators but also do other things like being able to buy premium products.
According to the CEO, the Brave Browser plans to implement e-commerce capabilities on the platform in full. As a result, they will be able to get rid of credit card fraud as well as the interchange charges by credit card companies.
The Brave Crypto Wallet
Brave Browser announced a native crypto wallet at the start of this year. It will allow users to interact with DApps and work in a similar manner to the current MetaMask wallet used inside the wallet. According to the CEO, they will create accounts for wallet users on both sides of the ecosystem. Besides that, they plan to add as many currencies and tokens as they can to meet the needs of their publishers and users and help to scale crypto. According to him, this scale is only currently available in South Korea and various other parts of Asia.
The CEO also had something to say to big Silicon Valley tech firms. He said that these companies were ripe for disruption. He noted that most of them were too hooked to what he called “surveillance capitalism.” In his opinion, this would not end well for them since they were already in trouble with antitrust agencies.
He added that the Brave browser was part of a new online economy, which is based around placing users first. It is also focused on privacy. Recently, Brave Browser proposed a decentralized crypto-based VPN that has a major focus on user anonymity.
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