Name

👛 Wallet Logic!

Description

For first timers:

If this is your first time at a hackathon or with your teammates, this blog post on organizing a hackathon team may be beneficial(https://tesla809.medium.com/draft-crash-course-how-to-organize-a-hackathon-team-29b221c23905). In our experience, a clear method of collaboration increases the chances of teams completing their projects, improves team efficiency, and reduces the time to completion.

TD;LR: Innovations in wallet design for better UX/UI, plus lower fees, will help onboard the next billion users. Because good UX/UI like is magic. It just works.

✨The Magic: Account Abstraction unlocks innovations in wallet design by bringing web2 UX/UI convenience to web3, so that self custody is much easier and decentralization increases.

🤫 The Secret: Account Abstraction allows organizations to create curated web3 experiences to create smooth onboarding. With AA, we can adapt accounts to business logic needs, instead of adapting business logic needs to accounts.

🔍 The Deets: By treating smart contract accounts at the same level as Externally Owned Accounts (EOA), we can break free from the EOA’s hardcoded assumptions. Accounts are abstracted because now the implementation and the interface are decoupled, allowing for customizable accounts only limited by your imagination.

A great example of Account Abstraction can be found in Raise Finance’s Blog: https://raisefinance.medium.com/the-power-of-account-abstraction-technical-overview-of-the-raisepay-wallet-8e8c43dee64f**Dapp suggestions:**

Think of your own idea! Optionally, you can pick one of a few of the hackathon idea suggestions as prompts to user stories via the following categories:

• Security to increase safety and self custody for users
• Onboarding to attract users and simplify interactions, reduced number of steps, or clicks.
• Retention to keep them

Improve security using Account Abstraction via one or more of these:

• One idea is a general abstraction in multisig wallets for plug and play services: easily add fraud monitoring, KYC, or any arbitrary service.
• This general abstraction can be used for multi-factor authentication via any medium: Gmail, Google Auth, etc.
• Another application could be fraud monitoring or KYC service, where the service is one of the multi-sigs wallet signers: if configurable compliance rules work, sign. For example, if transactions are under a certain amount or accounts are not on OFAC list.
• Another idea is a general purpose custom wallet generator: easy to create inter-linked custom accounts customizable functionality, using visual GUI tools. Think IFTT meets ETH.Build, meets Your Favorite Wallet.
• An application would be the easy generation of compliant intra-web of accounts for organizations. This allows the segregation of funds and easier control of risk. Some accounts can only pay certain vendors, employee payroll, investments only in certain assets, taking deposits, etc. How can you map the payment flows of an organization to an intra-web of accounts?