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devcon 5 / what do we do about libra

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What Do We Do About Libra?

Duration: 00:18:48

Speaker: Lucas Geiger

Type: Talk

Expertise: Intermediate

Event: Devcon

Date: Invalid Date

Lucas Geiger talks about Facebook's Libra & its impact.

Categories

Governance & CoordinationLibrafacebookgovernancecompatibilitytechnical
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Ethereum Governance: Showcase and Tools

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Upgradeability of self governed contract preview
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Upgradeability of self governed contract

On-chain wallets offer many features that more traditional private key based account lack. This is why many projects are pushing toward broader adoption of multisig wallets to represent users' identity and improve the UX. Yet, all are different and it's unlikely that any of the multisig available right now will be relevant more than a few years. There are features we haven't even though about that will be important to have in the future.ERC725 proposes to build a minimalistic proxy and change its owner when the users feel the need. This allows you to keep your address and not have to move your token to a new wallet. But with this approach, the ownership logic doesn't own the assets so meta-tx with refund is more complex.A better solution would be to allow the proxy to be the multisig itself while offering the same upgradeability potential. Since EthCC 2019, KitsuneWallet has been building a framework that provides upgradeability by design it an increasing number of project (UniversalLogin, Shipl, ...). With this framework, users can upgrade their on-chain wallet to benefit from new features or even change the entire interface to move from one UX to another.

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Capital allocation, from paying bills to complex organizational funding, often suffers from inefficiencies and lack of transparency. Web3 has the potential to revolutionize this by enabling more efficient, effective, and transparent capital distribution. By addressing coordination failures and introducing new onchain strategies, crypto could transform how society allocates resources. Gitcoin founder Kevin Owocki will articulate this design space in this 20 minute talk.

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