Cryptocurrency ecosystems have the advantage of economic incentivization and if they're decentralised, uncensorability.
Those are two major advantages.
Those are two major advantages.
I suspect that this will be a major issue in the long-run. Once these sort of crypto-based logins become synonymous with CP and terrorism, they're going to be shunned by the average person on the street.
Yes yes yes, people use email and whatsapp for the same, but at least there is the option for Google and Facebook to censor or block/ban those users (and it feels like there is increasing legal/legislational tension to try and compel the tech giants to actually do something in this area). You cannot say the same about an indelible blockchain.
It's a bit sad because it never started out as something intended for "make money fast" kind of investors. Bitcoin started as a way to free users from the centralised banks and regulation.
And if they cant do what banks already provide, what sort of "freedom" do they offer ? The ability not to have a retail account, the low hanging fruit of banking ?
This BS kneejerk 2008 crisis reaction Satoshi pretend to have had at the time, made him both one of the richest financial force in the world and the biggest financial risk (if he sells for some random reason just one btc from a genesis wallet of 1M BTC, what do you think will happen?). He became Maddoff...
Anybody looking to build a tech ecosystem is looking to build vendor lock-in. There is no advantage to planning for decentralization, and no laws to force companies to adopt a decentralized approach.