We all know the coin storage issue. If not, you must not hold a variety of cryptocurrencies and tokens. The issue is there is not a one size wallet that fits all. I personally have over 10 wallets and it is extremely cumbersome to not only access but move coins around this way. If you hold any significant amount of crypto, then you are hopefully not storing on the exchanges and are using offline storage such as a hardware wallet, etc.

Well, two startups are looking to solve this issue which we truly hope they are successful. Blockstack and Shapeshift have combined forces and offering up a reward. $50,000 to the team or developer that can make an open source crypto wallet.

There are some rules:

1. Must use BlockStack‘s authentication storage and encryption technology.
2. Must use Shapeshift’s API for the token exchange.

Deadline: You must create it by June 29th. If done this would hold any native token. Even tokens that have not been created yet which honestly would be flipping amazing!

Many people are deterred from the crypto space because this reason exactly. I know we are honestly tired of holding multiple wallets as I would think you are as well. Will this solve the issue? We don’t know but it is a hope we can only dream of and nobody else has yet came forward like this so we hope this is successful. We will keep you posted on the progress and what becomes of it!

–AboveCrypto Team