ICX Station is proud to announce Bridge, our latest incubator project focused on growing the addressable market for blockchain-based applications. With Block42 and PARROT9 assisting with development, we will utilize SDKs from both Magic (formerly Fortmatic) and a banking partner to create a seamless user experience when non-crypto users interact with ICON applications. Bridge will offer an SDK to ICON developers for simple integration of the Bridge widget into their application.
The mission of Bridge is simple: remove all friction when using blockchain apps. When consumers are using applications built on ICON, Bridge will hide everything and anything associated with blockchain technology. To the end user, all they will know is that they created an account using an email address and deposited some money into their account.
Unbeknownst to the user, Bridge will create a Magic wallet linked to their email address. When a user deposits fiat currency, our banking partner will take custody of their currency and Bridge will then mint fiat-backed stablecoins for the user. To the end user, all they have done is log-in with their email and deposit money into their Bridge account.
Equipped with fiat-backed stablecoins and an ICON wallet, users are now free to interact with any application using ICON’s technology without ever having to understand what a blockchain is. Bridge brings together several different existing blockchain services (fiat-backed stablecoins, fiat on-ramp, fiat off-ramp, and private key management) into one seamless user experience.
ICX Station hopes to see Bridge open up the door to a different kind of application built on ICON. Some apps will always require a knowledge of blockchain and awareness of ICX (Balanced, for example), however, future ICON applications using Bridge could instead allow users to buy/sell goods and services while still under the impression they are using fiat currency.
At ICX Station, we realize that the current target market of DApps is small. There are only so many people in the word that know about cryptocurrency, let alone how to purchase and use it. Instead of competing for market share in this relatively small market, Bridge allows ICON developers to expand their target market far beyond existing cryptocurrency holders and traders. This is an effort to grow the pie, rather than fighting for slices of the existing one.
We are excited for the launch of Bridge with current expectations of a Q3 2020 launch. If you have any ideas to launch a project built around Bridge, please reach out to us on Telegram or Twitter.
Your Partner in Blockchain,