E-commerce giant Shopify has launched its new blockchain suite products for traders. This development is expected to improve the user experience on Web3 stores hosted on Shopify. Additionally, merchants can utilize token locking and take advantage of new features on the extended wallet ecosystem.
Blockchain Suite Offers Shopify Users Great Benefits
According to Shopify’s blockchain team designer, ryancreatescopy on Twitter, merchants can use new tools to create token lock applications on the e-commerce platform. Token Gating is a common feature in the Web3 space and is a verification method for communities to provide exclusive access to certain events, content and drops.
It is seen as a way to create exclusivity for token holders and allows NFT creators to grant access to specific token holders. In the case of Shopify, merchants can modify their store configuration to determine which exclusive products are available to certain token holders.
To enable this feature, they will need to add a token lock app to their stores and decide which products, collections, or events are available to specific token holders.
Token Gating has been in beta mode since June 2022 and was previously only available to a select number of users. With these latest developments, any Shopify store owner can access this tool to improve customer experience.
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Additionally, Spotify has extended the crypto wallet login functionality by integrating the Ethereum (SIWE) protocol. Connecting with Ethereum is a standardized way for ERC-20 token holders and ENS domain owners to secure connections without giving their private credentials to third-party data collectors.
This integration is in line with Shopify’s recent issues regarding user data privacy. Earlier in 2022, the e-commerce giant faced a class action lawsuit over the high-profile data leak from hardware wallet provider Ledger.
Merchants can now access this single sign-on feature to ensure that buyers can easily log into their wallet. Additionally, they can use the Instruction Builder, which helps customize message instruction prompts for a better user experience.
This integration was described in more detail by ENS Labs lawyer Sadaf.eth in a Tweeter explaining how to use the tool in Shopify stores. Additionally, the blockchain suite includes tools and services to help merchants manage their blockchain assets, such as digital wallets and smart contracts. With the blockchain suite, Shopify aims to help merchants make the most of the opportunities offered by distributed ledger technology.
Shopify continues to defend Blockchain solutions
Shopify has a history of integrating blockchain solutions into its platform to improve payment processing, security, and scalability. In 2019, Shopify added bitcoin flash payments for merchants allowing fast and low-cost payments for its customers.
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Since then, it has partnered with several blockchain platforms, such as CoinPayments and OpenBazaar, to add features like automatic merchant payroll and secure customer authentication. It has also integrated blockchain technology into its point-of-sale and e-commerce systems to facilitate seamless transactions.
Finally, Shopify is exploring new blockchain technologies and developing its solutions with its partnership with Hedera Hashgraph and Consensys.
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