In episode 19 of Cointelegraph’s Hashing It Out podcast, Elisha Owusu Akyaw talks with Ivo Georgiev, CEO of Ethereum smart contract wallet Ambire, discussing account abstraction and the potential benefits for the Ethereum network.
Georgiev sees self-custody as an “extremely difficult” problem that can be solved with account abstraction, which makes crypto wallets programmable with multiple keys and features like two-factor authentication.
The CEO believes account abstraction can onboard the next billion users on Ethereum through new tools, such as embedding wallets on websites.
Georgiev suggests that instead of removing features from wallets to make them more user-friendly, swapping features could be removed since multiple decentralized exchanges provide such services and there is a growing need for minimalistic design. He points out that the most important improvement for wallets is changing the user onboarding process.
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Regarding regulations, Ambire’s CEO is not happy with the current landscape but doesn’t think wallets will be a major target of regulators soon.
Listen to the latest episode of Hashing It Out with Ivo Georgiev on Apple Podcasts, Spotify, Google Podcasts, or TuneIn. You can also explore Cointelegraph’s full roster of informative podcasts on the Cointelegraph Podcasts page.