Account abstraction is a technology that transforms traditional Web3 wallets into smart wallets by adding programmable operations, enabling automated payments without requiring manual signatures for each transaction. This innovation addresses the fundamental technical limitation of current Web3 wallets that require manual signatures for every operation, which prevents Web3 from outperforming Web2 payment systems like Visa and Mastercard in terms of automation and user experience.
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Future Of Payment π₯Added:
Just like how you imagine with your bank account, how would you transfer the money? With the help of Stripe, Visa, Mastercard, SEPA, Swift, you could transfer money everywhere. But you cannot do this in Web3. And that is why we have built a business process and payment gateway, which is powered by account abstraction. Let's say Tim has a wallet. He has a lot of digital assets.
But can he do anything without making a signature? The answer is no.
Well, that creates a huge problem and that's why Web3 cannot outperform Web2.
The reason is simple, technical limitation of a wallet. And this is why neither a payment or a process can be automated until we have a solution by Actum. It is a next generation payment gateway and a business process gateway. It is powered by account abstraction. How do we do this? We just actually create a smart wallet out of your wallet. So we're not giving you any new wallet. Your just current wallet is kind of, I don't want to say dumb, but it's kind of a dumb. It cannot do everything. So we create a smart wallet out of your wallet and add programmable operation.
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