• Elisha Owusu Akyaw interviews Ivo Georgiev, CEO of Ethereum smart contract wallet Ambire.
• Georgiev discusses account abstraction and how wallets can bring more people to the network.
• He believes self-custody is an “extremely difficult” problem that can be solved with account abstraction, which could potentially onboard the next one billion users to Ethereum.
Interview With Ivo Georgiev
On Episode 19 of Cointelegraph’s Hashing It Out podcast, Elisha Owusu Akyaw talks to Ivo Georgiev, CEO of Ethereum smart contract wallet Ambire. The two discussed account abstraction and how wallets can bring more people to the network.
Account Abstraction
Georgiev believes self-custody is an “extremely difficult” problem that can be solved with account abstraction. This technology makes crypto wallets programmable, giving them multiple keys and allowing features like two-factor authentication. He also highlighted that embedding wallets on websites could potentially boost crypto adoption.
New Features for Wallets
When asked about new features that wallets should offer, Georgiev suggested that minimalistic design is key – removing the swapping feature may be something wallets will do since multiple decentralized exchanges provide such services already. Also, he highlighted that improving the user onboarding process is also a crucial improvement for all wallets in general.
Regulations
Regarding regulations on cryptocurrency wallets, Ambire’s CEO stated they are not happy with the current landscape but doesn’t think wallets will be a major target of regulators in the near future.
Conclusion
In conclusion, Ivo Georgiev believes account abstraction will bring increased flexibility and security to Ethereum network which could lead to increased adoption by bringing onboard the next one billion users.