Trust Wallet CEO Eowyn Chen Shares Her Crypto, Self-Custody, and Web3 Vision

Eowyn Chen’s path to crypto leadership began with finance before taking command at Trust Wallet. Before becoming CEO of Trust Wallet, she worked at Binance, where she played a significant role in expanding the crypto exchange user base.

During an exclusive conversation with CoinGape at Blockchain Life 2024, Eowyn Chen emphasized how self-custody in crypto empowers users and supports humanitarian efforts.

What Brought You Here to the Crypto World?

Eowyn Chen, shared that she entered the crypto space in 2018 during the rise of the bear market. While considering two technologies – AI and blockchain, she chose blockchain for its empowering ideology. She believes technology can enhance human society, though it does not change human nature. The themes of decentralization, self-custody, and full ownership fueled her interest. After leading the finance and marketing team in Binance she joined Trust Wallet in 2022 to support its mission of bringing more people into the decentralized space.

What Growth Do You See in the UAE Market, Specifically in Dubai?

Chen noted that Trust Wallet started seven years ago in the U.S. She explained that it began as an Ethereum wallet for initial coin offering (ICO) of tokens. The product aimed to be user-friendly, not technical, so everyday people could feel confident exploring blockchain. Chen highlighted Trust Wallet’s growth, stating they now support over 100 chains. She mentioned their 150 million total downloads, making Trust Wallet the largest mobile wallet in the world. Eowyn Chen shared that Trust Wallet’s vision includes expanding its mission to serve both the crypto and Web3 space.

How Is Blockchain and Crypto Supporting Humanity and Solving Problems?

Eowyn Chen pointed out that blockchain technology supports humanity by enabling self-custody. This term means that users own their assets, unlike traditional banking systems. She emphasized that it can be difficult to have confidence in owning assets, as banks can be unreliable. She mentioned older generations in Europe, affected by past conflicts, who do not trust banks. These individuals are turning to blockchain and stable coins to preserve their wealth. Eowyn shared a story of a charity using Trust Wallet to help refugees. They converted donations into crypto, allowing refugees to carry their assets across borders.

What Is the Difference Between Web3 and Crypto, and What Is Each Doing on the Ground?

Eowyn Chen explained that many people confuse Web3 and crypto, but they solve different problems. Crypto primarily addresses financial issues and aims to provide alternatives to centralized banking. In contrast, Web3 focuses on data ownership and equitable economic distribution. she emphasized that Web3 aims to create a fair environment for users, creators, and platforms, helping them thrive together.

How Is Crypto Protecting the Privacy of End Users Regarding Their details?

Chen discussed the role of zero-knowledge proof technology in protecting privacy. This technology can provide compliance while preserving user privacy. Eowyn noted that users don’t want their neighbors to know their online activities. She believes that zero-knowledge proof has high potential for privacy solutions, allowing users to navigate their digital lives without compromising their identity.

What Will You Share as a Panelist at Blockchain Life Dubai 2024?

She stated that she usually approaches panels impromptu. She will adapt her contributions based on the discussions and dynamics of the panelists. Eowyn expressed her eagerness to engage with the audience and add value to the conversation.

What Advice Would You Give to People Still Confused About Entering This New Ecosystem?

Eowyn Chen’s first piece of advice is to conduct personal research. She emphasized that self-research leads to greater passion and better judgment. Chen referenced a book called “The Crowd,” which discusses individual decision-making. She encouraged young people to trust their research over expert opinions. Chen also advised understanding risk management. She suggested putting a small amount into the ecosystem to engage actively. This approach helps users learn and become knowledgeable while developing a personal track record.