Super apps are platforms that bring together a variety of services in a single application, accessible on different devices such as smartphones and computers. With them, users can manage bank accounts, order food, book trips, purchase products, and access health applications, all in one place.
The decentralized finance (DeFi) sector, through blockchain technology, has driven the creation of these super apps. Projects like Uniswap, Aave, and Compound are examples of initiatives aimed at integrating different ecosystems into a single platform.
In traditional finance, Open Finance seeks to develop integrated solutions, allowing users to access their bank accounts in one app and share their financial history with other institutions, aiming for greater personalization of products and services.
In China, WeChat enables users to communicate, make payments, shop, and request transportation services. In Indonesia, Gojek follows a similar model. This global trend has the potential to be widely explored by entrepreneurs.
In this context, PanoramaCrypto interviewed Neha Mehta, founder of FemTech Partners and author of the book One Stop, which explores the innovation brought by super apps.
What inspired you to write a book about super apps, and what sets them apart from traditional apps?
Super apps create integrated ecosystems that simplify user experiences by connecting various services in a single platform. What sets them apart from traditional apps is their ability to efficiently unite multiple services. In my work with fintechs, I’ve observed how these apps can promote financial inclusion and sustainability.
How do you see the evolution of super apps in the next 5-10 years, considering competition and regulatory changes?
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Super apps are expected to continue expanding into areas like sustainability and healthcare. With increasing competition, innovation will be crucial, incorporating blockchain, artificial intelligence, and new security features. Regulations, particularly related to data privacy and financial systems, will push these platforms to adopt greater transparency and responsibility, creating opportunities for ethical innovations.
How can blockchain technology improve the functionality and security of super apps? Can you give examples?
Blockchain offers greater transparency and security by recording transactions in a decentralized manner. One example would be the integration of blockchain into payment super apps, enabling secure, real-time cross-border transfers. Another possibility is using blockchain to track carbon credits in sustainability-focused solutions.
What are the challenges and opportunities in integrating cryptocurrencies into these apps? How can these obstacles be overcome?
Integrating cryptocurrencies offers opportunities for financial inclusion, especially in emerging markets. However, challenges include currency volatility, regulatory issues, and consumer trust. Financial education, clear regulatory frameworks, and cooperation with governments can help overcome these challenges.
What are the ethical considerations in developing super apps that integrate cryptocurrencies?
The main ethical concerns involve user data security and privacy, as well as access to these platforms. It’s crucial that users, especially those from underserved communities, are informed about the risks and benefits. Developers must ensure security against fraud while promoting transparent and inclusive ecosystems.
How do you see the relationship between central bank digital currencies (CBDCs) and super apps in the future?
CBDCs could be integrated into super apps, offering a stable and regulated form of payment, which would make transactions safer and more widely accepted. This relationship could help promote financial inclusion and foster new collaboration models between the public and private sectors.
If you could change something in the current super app and cryptocurrency landscape, what would it be?
I would establish clearer global regulatory guidelines for integrating cryptocurrencies into super apps. This would reduce uncertainty and facilitate international transactions, allowing these apps to be used more effectively to promote financial inclusion and sustainability.
