🔭Overview
Last updated
Last updated
Users frequently engage in transactions with individuals within their social circles, including family members, friends, and colleagues. When users find themselves making frequent payments to the same recipients over a short period, it becomes a practical choice to store these contacts for easy access. By maintaining an address book, users can swiftly retrieve these commonly-used contacts during transactions, leading to a reduction in unnecessary clicks and enhancing the overall transaction process.
Research findings highlight the positive impact of integrating address books within payment apps. This inclusion eliminates the need for users to engage in the cumbersome process of copying, pasting, or memorizing intricate identifiers. As a result, users experience a smoother transaction process, leading to an increase in transaction volumes. This boost in user engagement and activity contributes to the growth and vibrancy of the platform.
The success of Web2 payment apps like Cashapp, Venom, and UPI apps is attributed, in part, to their integration of address books directly within their platforms. This strategic decision has significantly enhanced the user experience, allowing users to manage their frequently-used contacts effortlessly. However, while Web3 wallets and payment apps have adopted similar address book functionalities, the decentralized nature of the Web3 landscape presents unique challenges.
Fetcch introduces web3 address book. Fetcch transforms the way users manage their contacts. Users gain the ability to categorize and organize their address books based on different relationships or groups. For instance, users can create sub-address books tailored to specific contexts, improving organization and user experience.
We take a step forward by offering a safe way for users to share their address books with other identities or wallets. This unique feature encourages better coordination and supports joint financial efforts among users. Security is of utmost importance; Fetcch secures user address books through encryption and stores them on reliable platforms like IPFS and Arweave. The merkle root of these address books, anchored on the blockchain, gives users a way to verify their data's integrity.
We enable wallets to access global address books for a user. There can be multiple sub address books which a user can manage. So, users can manage their address books more effectively. A example, satyam@metamask wants to segregate addresses in the address book based on categories like home, work, friends etc, they can easily create sub-address books inside their wallet which will use Fetcch APIs.
Each Fetcch Identity or any other address or DID can have multiple sub-address books, like one for work, another for personal etc. This will help them segregate addresses/identities based on their relation with them.
If someone wants to share their address book(s) with other identity or address, they can invite that identity/address to that particular address book, this invite can be scoped to read, read-write, so if the receiver identity accepts the request, they will now be able to see that address book
All of the address books of a user are encrypted and stored on storage solutions like IPFS/Arweave and their merkle root onchain to easily verify if those books are tampered with or not.
Address Book has usecases in wallet, it will improve payment experience in wallet by a lot, also various dApps can use it for identifying a user's frequently interacted address, only if user allowed it to.
Integration is very easy, we have APIs and SDKs that simplify the development process, checkout here, also join our discord for any assistance
