AMA RECAP — “From Innovation to Everyday Use: How RingWallet and Uquid Transform the Game”

Uquid
14 min readJun 10, 2024

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Host: Diego (Uquid)

Speakers: Lola(Uquid Speaker), Chris (RingWallet Speaker)

Location: X Space

At Uquid, we recently hosted an engaging AMA session brought together thought leaders from Uquid and RingWallet to explore how these platforms are making cryptocurrency more accessible and practical for daily use. The session, hosted by Diego from Uquid, featured Lola from our Business Development team and Chris, the CMO of RingWallet.

Introduction to RingWallet

Chris from RingWallet kicked off the session by introducing the RingWallet project. RingWallet is a wearable hardware wallet designed to offer security and portability. Unlike traditional hardware wallets, RingWallet doesn’t require a battery, making it always ready for use. Chris highlighted that the design inspiration came from a desire to create a hardware wallet that is both secure and stylish, allowing users to carry their crypto assets discreetly.

Unique Features of RingWallet

Chris explained the inspiration behind RingWallet’s unique design. The team aimed to combine beautiful design with top-notch security. The wearable format addresses the inconvenience of traditional hardware wallets, making it easy for users to manage their assets on the go without drawing attention.

Backup System

One of the standout features of RingWallet is its backup system. Users can back up their wallets using a traditional seed phrase or the innovative AceCards. These cards use Shamir’s Secret Sharing to ensure security. Users receive four cards with their RingWallet and need any two to recover their wallet. This system allows for a reliable backup option without compromising security.

Uquid’s Role in Everyday Crypto Use

Lola from Uquid shared insights into how Uquid integrates cryptocurrency into everyday transactions. Uquid has been at the forefront of integrating DeFi and Web 3.0 into e-commerce since 2016. Our platform supports a wide range of payment options, from cryptocurrencies and fiat to various digital wallets. We offer over 160 million products and ship to more than 200 countries.

Payin3 Feature

Lola highlighted the Payin3 feature introduced by Uquid in 2021. This is the first Buy Now Pay Later service available with cryptocurrency, allowing customers to split their purchases into three interest-free payments over 90 days. This feature provides flexibility while protecting the future value of their crypto.

Extensive Partnerships

Our integration with major platforms like Binance, Crypto.com, and Gate.io, coupled with a user base of 220 million, underscores our significant impact on the Web 3.0 shopping infrastructure. Uquid’s extensive reach enables us to offer exclusive deals and cashback, ensuring a rewarding shopping experience for our customers.

RingWallet’s Security Measures

Chris addressed the security measures in place for RingWallet, emphasizing that the ring includes anti-tamper technology and requires multiple verification steps for any transaction. This ensures that even if the ring is stolen, the assets remain secure.

Upcoming Features

Chris shared exciting updates about RingWallet, including plans to introduce more colors and materials, and the capability to support card payments. These features will enhance the user experience, making RingWallet not just a tool for crypto transfers but also for everyday payments.

Uquid’s Vision

Lola discussed Uquid’s vision for the future of cryptocurrency. We see a future where cryptocurrency becomes an integral part of daily financial transactions, democratizing financial services and providing access to those underserved by traditional banking systems. Uquid aims to simplify the use of cryptocurrency for everyday shopping, driving wider adoption and bringing the benefits of digital finance to people around the world.

Conclusion

The AMA session concluded with a Q&A, where Chris and Lola addressed various queries from the audience. The discussion highlighted the innovative approaches of both RingWallet and Uquid in making cryptocurrency more accessible and practical for everyday use.

For a detailed recap of our engaging AMA session, including all the insights and discussions, check out the full script below, now optimized for easy reading and understanding. Dive in and learn how RingWallet and Uquid are transforming the crypto landscape!

2. Detailed Script

[Diego]

Hello and welcome, everyone! I’m Diego, your host for today’s AMA session on UQUID’s X platforms. Today, we dive into a discussion on the topic “From Innovation to Everyday Use: How RingWallet and Uquid Transform the Game.”

We have an exciting lineup of speakers from UQUID and RingWallet, who are leading the way in transforming how we use cryptocurrency in our daily lives.From RingWallet, we have Chris, and from UQUID, we have Lola from the Business Development Team.Chris and Lola, would you like to say a quick hello to our listeners?

[Lola]

hello everyone, my name is Lola and I’m from the BD team of Uquid and I’m very glad to be here today sharing with you guys and especially with Ring Wallet today and I hope we will have a very insightful AMA today.

[Chris]

hi everyone so like mention my name is Chris. I’m the CMO of Ring Wallet.

[Diego]

Thank you, Chris and Lola, for those warm greetings. Let’s dive right into our discussion.

Our first question is for Chris from RingWallet. Chris, can you provide a brief introduction to the RingWallet project? Additionally, could you explain what sets RingWallet apart from other hardware wallets?

[Chris]

So Ring Wallet is a wearable hardware wallet. it’s shaped as a ring as you might expect from the nam. What sets us apart from other hardware wallets is a few things firstly: it’s a wearable device and it’s truly portable. It doesn’t require a battery so it always works and no charging ever required. And it’s also very easy to set up and use, it takes less than a minute to set up and get started with your ring wallet once you get the box open. So that’s a very brief introduction and a few of things that set us apart. There’s more but we’ll have time later on in the space to get into them of course

[Diego]

Thank you, Chris, for that insightful introduction to the RingWallet project and for highlighting its unique features. It’s fascinating to see how RingWallet is shaping the future of hardware wallets.

Moving on to our next question for you, Chris. What inspired the unique design of RingWallet as a wearable crypto wallet?

[Chris]

Yes so there’s a few things, first of all our team loves beautiful design and we wanted to find a way to bring beautiful design to hardware wallets while maintaining the security that everyone needs in the space. it also came from personal frustration like when I go on holidays or events and stuff, I always had to consider quite lengthyif I should bring my hardware wallets with me

What if I’m caught off guard, what if I need to sell something, what if I need to buy something, what if I need to transfer more funds. Because the holiday is going over budget you know uh so just having it as a wearable device that goes everywhere with you solves those issues and it’s also very very like hidden in plain sight so you don’t have to worry, for example at the airport getting question like why do you have a hardware wallet with you and stuff. It’s just a normal ring very unlikely to raise any eyebrows anywhere.

[Diego]

Thank you, Chris, for sharing the inspiration behind RingWallet’s unique design. It’s clear that innovation drives your approach to making cryptocurrency more accessible and secure.

Now, let’s delve a bit deeper into the practicalities. Chris, could you explain how users can backup their RingWallet? This is a critical aspect of ensuring security and peace of mind.

[Chris]

Of course, so there’s two backup system: firstly you can back it up with a seed phrase

like you would any other hardware or softer wallet, but that’s not the exciting part. The exciting part is we offer these cards called AceCards. When you order your ring, it comes with four of these ace cards basically when you set it up using your phone, when you set up your ring wallet, you have the option to back up your wallet.

Using these ace cards and what it does uses a cryptographic principle named Shamir’s secret sharing we didn’t invent it, we’re not claiming we did but we are the first ones to apply it in this way where each card contains a unique secret that’s encrypted and send the NFC to the card what that means for you as a user

Your ring comes with 4 card, basically you need 2 of them to recover your ring, if you lose one of them that’s fine you can’t actually recover it using only one card. So as long as you don’t lose two of your cards in the same place you’re good. It also makes it easy to rely on a friend or a family member as a backup option

Because you can give them one card and then basically that doesn’t give them the chance to recover your wallet by themselves and steal any funds if there’s a misunderstanding between the two people but it does like you message that person “hey I need that extra card to recover my wallet”.

You know the system also goes much further than this, there’s uh not really a limit on how many cards you can order. If you wanna order 200 cards and you wanna use 150 out of the 200 to recover it you can do that. There’s really no limit you can customize it to your needs if you want to you could think of it as a sort of multi 6 solution but it’s offline instead of for signing transactions for recovering your wallet

[Diego]

Thank you, Chris, for explaining the backup processes for the RingWallet. It’s reassuring to know that users have robust options for safeguarding their assets.

Now, shifting our focus to UQUID. Lola, could you share with us how UQUID facilitates the use of cryptocurrency in everyday transactions and activities? This integration into daily life is crucial for wider adoption.

[Lola]

Hello again, everyone! I’m Lola from the Business Development team at UQUID. Thank you, Diego, for the question. Just attentively listening to the sharing of Christ, I was really impressed by how RingWallet addresses several key issues that users face with current hardware wallets. it really makes me to own one for myself and ofc gonna introduce my friends about this too

At UQUID, we’ve been at the forefront of integrating DeFi and Web 3.0 into e-commerce since our inception in 2016. Our mission is to enhance the shopping experience by incorporating cryptocurrencies into everyday transactions seamlessly.

To ensure everyone can use our services, we’ve streamlined the process by making our platform intuitive and accessible, regardless of users’ technical skills. This approach has helped us serve a diverse customer base across the globe effectively.

UQUID has pioneered several innovative solutions, including the introduction of the Payin3 feature in 2021, which is the first Buy Now Pay Later service available with cryptocurrency. This service allows customers to split their purchases into three interest-free payments over 90 days, providing flexibility while protecting the future value of their crypto.

Moreover, our platform supports a vast range of payment options, from cryptocurrencies and fiat to various digital wallets, ensuring that our users have the utmost convenience. With over 160 million products, ranging from physical goods, digital items, to NFTs, and shipping to over 200 countries, UQUID offers a comprehensive shopping solution that caters to a global audience.

Our integration with major platforms like Binance, Crypto.com, and Gate.io, coupled with a user base of 220 million, underscores our significant impact on the Web 3.0 shopping infrastructure. This extensive reach not only enables us to offer exclusive deals and cashback but also ensures that our customers enjoy a rewarding and versatile shopping experience.

At UQUID, we are committed to pushing the boundaries of how cryptocurrency is used, making it as straightforward and accessible as traditional money, thus driving wider adoption and bringing the benefits of digital finance to people around the world

[Diego]

Thank you, Lola, for sharing how UQUID is making cryptocurrency transactions not just possible but convenient and flexible for everyday use. Your efforts in transforming the e-commerce landscape are truly commendable.

Now, let’s explore the broader vision. Lola, how does UQUID see the future of cryptocurrency evolving, and what role will it play in that future?

[Lola]

Thank you, Diego, for that question. At UQUID, we envision a future where cryptocurrency is not just an investment tool but an integral part of daily financial transactions.

The evolution of cryptocurrency is set to profoundly impact how we perceive and engage with the global financial system. Our role in this future is central; we aim to be at the forefront of making cryptocurrency accessible and usable for everyone.

As cryptocurrencies become more mainstream, we anticipate they will play a significant role in democratizing financial services, providing access to those who are currently underserved by traditional banking systems. This aligns perfectly with UQUID’s mission to bridge the gap between decentralized finance and everyday consumers.

Looking ahead, we see cryptocurrencies becoming the norm for everyday purchases, much like debit and credit cards are today. This transition will not only facilitate smoother, more efficient transactions but also offer enhanced security and privacy for users.

You know, one of the coolest things about blockchain technology is how it inherently reduces the risk of fraud and cuts down transaction fees. This makes cryptocurrencies really appealing, not just for consumers, but for merchants too. It’s a win-win situation that’s going to drive a lot of interest and adoption in the space.

UQUID’s role in this future is to continue developing solutions that simplify the use of cryptocurrency for everyday shopping. Whether it’s expanding our digital marketplace, enhancing our platform to support a wider range of cryptocurrencies, or advancing our security to protect users’ assets, we are committed to innovating at the pace of this evolution.

By focusing on these areas, UQUID will not only support the growth of cryptocurrency as a stable and trusted medium of exchange but also empower our customers to take full advantage of the benefits that decentralized financial systems offer.

[Diego]

Thank you, Lola, for outlining UQUID’s vision for the future of cryptocurrency and its integration into everyday shopping. It’s exciting to see how UQUID plans to facilitate a broader adoption of crypto in everyday life.

Turning our focus back to RingWallet, I have a crucial question that many of our listeners might be wondering about. Chris, what happens if someone steals my RingWallet? What measures are in place to protect users in such scenarios?

[Chris]

Yeah so the actual ring getting stolen, it’s true it might happen, it’s an accessory that you wear with you everyday. It poses no security threat to your assets so there’s a few steps that we take to make sure your crypto remains safe:

Firstly the ring includes anti temporary technology so if it detects someone is trying to break it open or modify it or access your funds in any unauthorized way, the ring will automatically break itself becoming unusable

Secondly in order for any transaction to actually be approved, you have to bring your ring next to your phone enter your phone passcode or biometric data you know just the regular unlocking your phone get into the app which has a separate passcode like many banking apps it would be the same system and then tap your ring on the back of your phone where you have the NFC chip

So there’s a lot of steps required to make sure that your assets stay safe they’re not complicated steps it sounds like it’s complicated but you know these things are second nature to us at the moment just opening the app scanning your face or your fingerprint. It’s basically takes no time. And that’s what we’re doing to make sure that if your ring gets stolen nothing can happen to your assets.

[Diego]

Thank you, Chris, for addressing the security measures in place for RingWallet. It’s reassuring to know how well-thought-out the protection strategies are for users.

Now, let’s look ahead. Chris, are there any upcoming features or updates for RingWallet that you can share with us today? Additionally, are there plans to offer more color options for the RingWallet to appeal to a wider audience.

[Chris]

so my personally I would love to have the the white color personally, thank you so much 100% and one of the first updates that we’re gonna do is to actually introduce more colors more materials we’ve got tungsten uh as a material we’re gonna add we’ve got titanium as a material we’re gonna add obviously different colors as well, different color combinations uh

There’s gonna be a lot of things you’re gonna be able to customize but uh we’re taking it step by step starting with user security and a single ring and will expand from there in terms of features that we’re going to add one of the first big features that will come as an update is fully supporting cards the chip on the ring is capable of supporting card payments

So you’re gonna be able to use your ring to pay for your coffee but also to do crypto transfers which is huge to many people including myself um so that’s the most exciting update that’s gonna come in the medium term future. Once we launch if users do want to um get in on the action, I would suggest that they sign up for our waitlist because that’s where they will get updates on new features and also a discount on the ring if they sign up before we launch the presale

So definitely if you’re in the audience, you think the ring is a cool idea, go sign up for the waitlist and we’ll keep you up to date with any and all features that we add

[Diego]

Cool yeah I think I will be the one who sign the 1 list yeah just imagine like how cool it could be if you could use a white car wallet and pay for everyday items that you want to buy

Before we continue, I’d like to remind everyone about the exciting minigame we’re running alongside today’s AMA with Uquid and RingWallet. Here’s how you can win a RingWallet hardware wallet valued at 99 Euros.

Make sure to follow @uquidcard and @Ringwallet on Twitter.

Join our Telegram communities at t.me/ringwallet and t.me/uquidcoinofficial.

Comment your question below our specific AMA announcement tweet. The comment that receives the most reactions — likes and retweets — within 24 hours will be declared the winner.

Before we announce the winner of our exciting minigame, I’d like to turn to Chris from RingWallet for a moment. Chris, could you share with us a bit about the significance of the RingWallet hardware wallet that’s up for grabs today? What makes this prize particularly valuable for our participants?

[Chris]

Yeah well, first of all it’s on the lower side of cost in terms of hardware wallets while delivering security that is consistent with the higher price. The hardware wallet options out there, I mean I just believe it’s a very good price point for what you get especially given that if you sign up for the waitlist you get a 15% discount so you’re essentially getting a wearable hardware wallet with an accompanying app for €85 um which is cheaper than 99% of the options to keep your crypto safe on the market at the moment.

[Diego]

yeah I think that price up affordable for most everyone so yeah uh now it’s time to review our winner of the minigames today

so congratulation uh to Bob text you 5 1 4 2 2

Your question is generally the most reaction on Twitter in showcating the community interest in your inside phone quarry so we thrill to towards your with you a ring wallet value at 99 euro

So please get in touch with us through our social like social channel and you can claim your prize and I’ll be thanks to everyone who participate and engage with us to be this AMA.I think uh it’s time to end this AMA today as we bring engaging session to this close I would like to intend a huge thank to everyone and joy without today uh

Thank you so much for your participation and enthusiasm have truly enriched this discussion , also thank you for sharing your expertise and insight into innovative for bring and Uquid and your contribution provide us a deep understanding of the exciting departments in cryptocurrency and essential technology

[Chris]

I mean I’ll go ahead and then uh um if Lola wants to say anything that’s awesome uh but basically I just encourage uh everyone to uh head over to ringwallet.com sign up for a waitlist check out the website, check out if you like the product and if you have any feedback we’re very open to receiving it, shoot over a DM and I’ll be happy to answer your questions. Thank you so much Lola for giving fantastic answers.

[Lola]

okay so first of all thank you the all the participant today to join us and thank you Diego for hosting and also giving us such a fantastic questions and also thank you Chris for um joining us today and it’s really lovely to hear your sharings, about the ring wallet and I really looking forward to um the future development of the ring. So and it’s my honor to be here today and we can have another AMA sharings about our projects.

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Uquid

Leading in Web 3.0 shopping platform with over 160M products. Shop to Earn, exclusive deals, Payin3 with Crypto. Explore more: http://linktr.ee/uquidofficial