Sure, by all means wait until these features are ready.
They’re not as uncertain as I made it sound though. Smart wallets already exist and layer 2’s exist where users can submit proof of fraud. Danksharding isn't going to take 8 years like proof of stake.
The biggest issue I see is building trust, which takes a lot of time. A smart wallet is great but it’s going to take years before the community trusts the builder of the wallet.
With that said, I do think crypto has a chance of offering things that the current financial institutions will find very difficult to compete with. I’d love to see Visa reduce their fees to a flat $0.01 per transaction but that that would massively reduce their profits.
Also, with a standardized financial API it opens the door to more competition in other areas. For example, a fairer and more transparent alternative to credit scores. Current credit score providers rely on the fact that their system is opaque. Competing with a transparent credit score would be very difficult.
The reason I’m so interested in crypto is the possibility of taking away power from these large institutions.
They’re not as uncertain as I made it sound though. Smart wallets already exist and layer 2’s exist where users can submit proof of fraud. Danksharding isn't going to take 8 years like proof of stake.
The biggest issue I see is building trust, which takes a lot of time. A smart wallet is great but it’s going to take years before the community trusts the builder of the wallet.
With that said, I do think crypto has a chance of offering things that the current financial institutions will find very difficult to compete with. I’d love to see Visa reduce their fees to a flat $0.01 per transaction but that that would massively reduce their profits.
Also, with a standardized financial API it opens the door to more competition in other areas. For example, a fairer and more transparent alternative to credit scores. Current credit score providers rely on the fact that their system is opaque. Competing with a transparent credit score would be very difficult.
The reason I’m so interested in crypto is the possibility of taking away power from these large institutions.