Source: Depositphotos We’ve certainly come a long way from the checkbook. It’s been about two generations since “writing a check” was a phrase that people actually used without it being part of a history lesson. Yes, writing checks are still possible in certain situations, but so is using a fax machine or sending a telegraph. We’ve actually evolved several times over since check writing days, but ironically we are coming full circle on some of the core elements that checks provided. Web3 wallets can do things better, faster, and more securely than the humble check, but they share two key features. First, both are designed to enable P2P transfers without the financial institute needing to be part of the direct transaction (yes, a bank was involved with the transfer of funds, but you could write or receive the check itself without needing a bank). Second, because of their P2P capability, there is an important social aspect involved where the transaction can include messaging about the transfer’s context. For the check, there was a small part titled “memo” where the check writer could note what the check was for. This helped, especially in P2P transactions, to identify the purpose of the transfer and acting as a type of receipt. For today’s Web3 transfers, the challenge is sending or receiving currency from anyone around the globe, without the help of a bank, but needing that social aspect of noting what the transaction is for. Web3 wallets are finally starting to figure out this very basic need, and putting it into the modern context of trustless transactions that require not just secure transactions, but secure communications. Enter the age of the messenger-enabled wallet. Let’s dive in. Web3 Wallets: What Are They For? Anyone involved with Web3 might look at this question (what is a Web3 wallet for) and laugh. Everyone knows what a Web3 wallet does. At a high level, it’s responsible for storing your Web3 tokens, tying their ownership to you, keeping them safe, and allowing you to both send and receive tokens to others. If a Web3 wallet can do that, then it is a quality tool. However, the entire purpose of Web3 was to walk away from traditional banks by removing them as the middleman. P2P is the ultimate goal, and borders, currencies, distance, and language have no power to prevent it. As the crypto industry has developed, we’ve seen countless wallets pop up in order to store people’s tokens, often charging a small fee for certain transactions in order to make a business model out of it. Some focus on security through hot or cold versions, others rely on complete anonymity, while others bundle wallets with other services making them a one-stop-shop. The Social Element One area that has been slower to the wallet party is the social element of Web3 wallets. This is especially interesting because the TradFi world has not been caught off guard here. There has been an explosion of P2P payment apps that are either tied directly to TradFi accounts, or act as a holding account for traditional currency. These apps might be tied to banks, but their goal is to enable P2P transactions with as little effort as possible. They are designed to access your contacts list and send money to friends and family (or strangers from Facebook Marketplace) without knowing or caring where they bank. And a key element to all of these apps is the ability to communicate what the transactions are for. Some of these apps even give the option to make the transactions and memos public (which can be an embarrassment to those who think their transactions and memos are private). The social element is key. That said, it’s interesting to look at the steps that lead up to a transaction taking place. Friends might split dinner, with one paying the bill and the others sending money. Other people might arrange to purchase something from someone directly. The key to all of these is the communication that happens before the transaction. In nearly all cases, this communication happens somewhere else: sometimes in person, but much more often through separate messaging apps. Is this a problem? For some things, probably not. But in a global economy, and with cyber security a major issue, it’s a bigger problem than you might realize. Merging the P2P Process Some social apps are realizing that the communication element that leads up to and follows a transaction is just as important as the transaction itself. However, traditional apps can’t support this process as well as Web3. Only Web3 can create the safety and security of decentralized protection, while at the same time creating a common ground that is agnostic to countries, languages, currencies, and social apps. Censorship is a non-issue when the entire platform is decentralized. Secure encryption is truly protected when the architecture is meant to prevent anyone--including the app itself--from listening in. And key to this all is creating the ability to not just send transactions but communicate with the parties ahead of time about it, all on the same protected space. Web3 is quickly realizing this opportunity. Platforms have begun launching this service in different forms, but it will go a long way in demonstrating the unique power of Web3 as an architecture that can solve our modern, global problems. Further still, platforms like Mixin are doing all of this with zero fees. Even wallets imported from other chains enjoy zero cost transactions, with the underlying gas fees subsidized by Mixin to handle the Ethereum gas or Bitcoin miner fees. This is a notable example of creating true value using Web3, then removing those barriers (like gas fees) that prevent mass adoption by new-to-Web3 users. 🎉 Mixin Messenger just got better:🆕 Wallet tab lets you view all your wallets🛅 Safe is now clearly displayed💸 Withdraw to Safe? Always free👛 Common wallet supports #avalanche -c chainJust update @MixinMessenger to v3.8.0 and explore it now 👇 https://t.co/0h3ffc8hRh … — Mixin Kernel (@MixinKernel) December 29, 2025 Looking Ahead The challenges we are facing--whether they be censorship, data theft, connecting to a global community, or the migration from traditional currencies--are very likely going to increase. These types of problems will grow bigger in the years ahead, which means we need to secure the ability to work through them. The ability to write checks to someone else directly served its purpose, and although we have that same need today we’ve moved far beyond such an antiquated process in our global economy. Web3 holds a tremendous amount of potential for this, and the ability to security message someone and send/receive currency without leaving that protected app is an excellent start. While many fads have caused bumps in Web3 adoption, the need for secure communication and P2P payments (especially when they are free) could be the next big wave for the industry. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
