✅The idea of onboarding billions while preventing sybil via biometrics is powerful.
🚩If profitable enough retinal scans could probably be spoofed and operators have no incentives to stop fraud as they earn commission (ht @richardchen39). Wells Fargo anyone?
✅Using ZKP to preserve biometrics <> address privacy is reassuring.
🚩If biometrics data is stored in a central repository could be a massive honeypot?
0/ Disclaimer: predictions are mostly done for fun and are not necessarily my investment theses. Timelines are mostly arbitrary just so I have some sort of benchmark.
An update: here's what major L1 protocols look like if we use TVL as a proxy for usage
Few personal thoughts:
1/ $ETH: @arbitrum is slowing creeping up in volume, but I think the space is underestimating the impact of L2s on usage because of current fees, which will come down over time