Shopify Launches Comprehensive Blockchain Suite For Merchants
E-commerce giant Shopify has launched its new blockchain suite of products for merchants. This development is expected to improve the user experience on web-based stores3 hosted on Shopify. Additionally, merchants can leverage token gating and take advantage of new features in the expanded wallet ecosystem.
Blockchain Suite offers great benefits to Shopify users
According to Shopify blockchain team designer ryancreatescopy at twitter, traders can use new tools to build token gating 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 releases.
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’s configuration to determine which unique products are accessible to certain token holders.
To enable this feature, they will need to add a token blocking 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 merchant can access this tool to improve their customer experience.
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Additionally, Spotify has expanded the crypto wallet connection feature by integrating the Ethereum protocol (SIWE). Ethereum login is a standardized way for ERC-20 token holders and ENS domain owners to secure logins without giving their private identifiers to third party data collectors.
This integration is in line with Shopify’s recent issues regarding user data privacy. In early 2022, the e-commerce giant faced a class-action lawsuit following the leak of data from the hardware wallet provider’s high-profile Ledger.
Merchants can now access this unique login feature to ensure shoppers can easily log in to their wallets. Additionally, they can utilize the instruction generator, which allows customization of message instruction prompts for a better user experience.
This integration was outlined by ENS Labs lawyer Sadaf.eth in a tweet explaining how to use the tool in Shopify stores. Furthermore, the blockchain suite includes tools and services to help traders 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 that distributed ledger technology offers.
Shopify continues to champion 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 lightning payments for merchants, enabling fast and low-cost payments for their customers.
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It has since partnered with several blockchain platforms such as CoinPayments and OpenBazaar to add features such as automatic merchant payroll and secure customer authentication. It 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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