Mobile money is growing rapidly throughout the globe and we can see it in the likes of WeChat in China, PayTM in India and many more in different countries. However, all these payment solutions are functional only in one country. Toshi wants to enable a global payment network based on open standards, making every country interoperable and everyone has access to financial services.
What Is Toshi?
Toshi is an open source browser for the Ethereum network being developed by a passionate group of developers and designers in San Francisco and Oslo. The interface is similar to messenger or mobile money apps, but it uses an open protocol for money underneath that works anywhere in the world (Ethereum). It not only works as an Ethereum wallet but also as a Messaging App and a DApp Browser.
They never have access to customer funds as they stay on the customer's device and they do not host any of the apps as they hosted by third parties. In this sense, Toshi is similar to a web browser for the Ethereum network.
Toshi has a built-in reputation system which lets customers within the system know who they can trust. Every user and app build a reputation over time as they transact with others on the platform.
We're excited to combine forces and build the best browser for the decentralized web! https://t.co/HNOSYH203R
— Toshi (@toshi) April 13, 2018
Even though Toshi is developed by Coinbase, it is published as open source software. Recently Coinbase had acquired Cipher Browser, a wallet based on Ethereum (ETH) Blockchain, and decentralized app (Dapp) developer, to improve its own similar project Toshi Ethereum network browser. The move allows Coinbase to integrate Cipher Browser’s features into its own decentralized mobile browser Toshi.