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ConsenSys Executive Believes Account Abstraction Could Onboard a Billion Users From Asia to Web3

July 5 (Cointime) - ConsenSys executive Laura Shi believes that account abstraction, also known as "smart accounts," could lead to the onboarding of a billion users from Asia to Web3. Shi notes that the Ethereum and Web3 ecosystem has seen significant growth in Asia, driven by the introduction of zero knowledge Ethereum Virtual Machine (zkEVM) rollups and the mass adoption of Optimistic rollups.

The development of account abstraction, which offers greater programmable functionality and more "bank-like" features than a regular crypto wallet, would increase adoption in the region. Shi also cites social gaming and Web3 gaming as driving adoption in Asia, with both use cases relying heavily on zkEVM rollups and account abstraction development.

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