E-commerce giant Shopify has launched its new blockchain suite of products for merchants. This development is expected to improve user experience on web3-based stores hosted on Shopify. In addition, merchants can utilize token gating and leverage new features on the expanded 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 build token gated apps 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, contents, and drops.
It is seen as a way of creating 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 setup to determine which exclusive products are accessible to certain token holders.
To activate this feature, they’ll be required to add a token gated app to their stores and decide which products, collections, or events are available for 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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Furthermore, Spotify has expanded the crypto wallet connect feature by integrating the Ethereum (SIWE) protocol. Sign-In with Ethereum is a standardized way for ERC-20 token holders and ENS domain owners to secure sign-ins without giving their private identifiers to third-party data collectors.
This integration is in line with Shopify’s recent problems regarding the privacy of users’ data. Earlier in 2022, the e-commerce giant faced a class-action suit following the hardware wallet provider’s high-profile Ledger data leak.
Merchants can now access this unique sign-in feature to ensure shoppers can easily sign in to their wallets. In addition, they can utilize the statement generator, which allows customization of message statement prompts for a better user experience.
This integration was further outlined by ENS Labs advocate Sadaf.eth in a tweet explaining how to utilize the tool in Shopify stores. Moreover, 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 intends to help merchants make the most of the opportunities distributed ledger technology offers.
Shopify Continues To Advocate 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 allowing for low-cost, fast 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 such as 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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