In Episode 19 of Cointelegraph’s Hashing It Out podcast, Elisha Owusu Akyaw chats with Ivo Georgiev, CEO of the Ethereum Ambire smart wallet. Georgiev explained account abstraction and how wallets can bring more people to the network.
Georgiev thinks that self-control is an “extremely difficult” problem that can be solved by account abstraction. He explained that account abstraction makes crypto wallets programmatic, giving them multiple keys and enabling authentication like two-factor authentication.
The president said that account abstraction can push crypto adoption through new tools like adding wallets to websites. “I think that account abstraction will bring the next billion users to Ethereum,” he added. Besides what should be added to wallets to make them more user-friendly, Georgiev was asked to suggest new features that wallets can offer. Using MetaMask as a case study, he explained that there is little need to remove services as they are now.
However, removing the exchange service may be something that wallets have to do since many exchanges offer such services, and there is a growing need for a smaller arrangement.
To conclude, Georgiev points out that the most important improvement for wallets is to change user onboarding. On the legal system, Ambire’s CEO says that they are not happy with the current landscape, but he does not think that the wallet will be the main goal for the regulators in the near future.
Listen to new episodes of Hashing It Out with Ivo Georgiev on Apple Podcasts, Spotify, Google Podcasts or TuneIn. You can also explore the full list of Cointelegraph podcasts on the Cointelegraph Podcast page.
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