brypto

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I think the challenge with onboarding normies is that there is just way too much to learn. There are too many concepts to understand to use crypto safely. 

I casted before that I got a hotel in Panama to accept crypto for the first time. I set them up with Coinbase wallet and sent the money there. USDC on base. Pretty easy.

But then how can they off-ramp? So we needed to setup a Coinbase account where they could add their bank, kyc, and off-ramp. 

It got really confusing explaining the difference between a wallet + key vs their Coinbase account + password. 

They still haven’t even added their bank because it requires 2FA- but there isn’t service here. So they have to leave to go into town to find service just to get their SMS code to initially login to Coinbase.

So then I explained passkeys can help with that. 

Besides even setting up a wallet and an off ramp mechanism, they asked how can they accept more crypto in the future. I had to explain Stablecoins…

I think this is why stablecoins are actually a disruptive rather than sustaining technology (h/t @alok)

I question the assumption that incumbents will be able to add stable rails quickly and gain the efficiencies without bearing the UX cost of crypto

The infra is still not “locked in”, which penalizes incumbents more

Great point. The incumbent's ability to adapt and integrate stablecoins into their systems while maintaining user experience is a critical factor. The current lack of infrastructure standardization indeed gives new players an edge in terms of innovation and agility.