TL; DR
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Ethereum “smart account” wallets allow users to purchase subscriptions (e.g. Netflix), set up automated payments, and log into Web3 apps with Web2 social accounts.
Full story
It doesn’t sound like a broken record, but…
We have exciting news that will drive Web3 adoption!
The news: Ethereum wants to unlock its full utility by turning wallets into “smart accounts.”
Why we care: these smart accounts provide a seamless experience that is 100% friendly to Web2 natives.
Users can do things like purchase subscriptions (e.g. Netflix), set up automatic payments among themselves (e.g. pay rent), and log into their smart account using existing Web2 accounts (e.g. ‘Sign In With Discord’).
PLUS! From the other side:
As of today, most (if not all) Web3 apps cost money to explore (for example, do you want to post to a Web3 social platform? It will cost you!).
With smart accounts, developers can choose to cover costs to increase adoption rates.
This is a big problem!
Because right now, most Web3 apps are trying to charge people for using something they’re used to getting for free: and that is a losing strategy!
Godspeed, smart accounts. Thank God.