Notes from Paris Wallet Ring
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Note: We forgot to have a scribe, so these are a bit rough/stream of conversation.

What is a wallet? Software that holds private key, contract on chain?

xdai.io is very cool. Concern about security despite small amounts.

Identity part of wallet? Potential anonymous/real name confusion. Identity not part of banking app.

Real estate vs Spank Chain transaction

zk-SNARKS valuable for minimising privacy intrusion while allowing user to prove later is needed.

Do CryptoKitties have value? Art, baseball cards. Value is what you see is in your interest.

How do we make money on wallets? Where are the users?

Reliance on Infura an issue? Infura only an intermediate service…. Concern about Infura being able to omit/lie about information. Varying commitment to decentralisation.

Light clients lolz! 200MB dataset. The US has bad data plans, Europeans less concerned by data costs.

Trust. Open Source not trust guarantee. Evil/coerced developer problem. Maybe problem lingers for years. How can millions block updates and audit. Multisig necessary for client diversity/redundancy. Reference to bank multiple signer controls.

F-Droid?? Not deterministic :(

[Coinbase Wallet repeatedly mentioned as a single point failure.]

Daily Limits to reduce risk. Token limits which can be dollar value using price feeds, could be written.

Multisig people think no future for mobile only wallets as large store of value.

Noted that even US has many unbanked who prefer pre-paid cards etc. So large value storage non-issue. Cold storage not a thought. Crypto able to help them? Adoption ->.Lower middle class in high inflation environments earning small money for cell phone top-ups? Advantages of green field, Russian banking more advanced than US.

[Awkward laughter about FB coin.]

WeChat. Maybe Telegram takes that role globally. M-PESA.

Discussion of African market. Mobile phones next step up after food. Requires limited infrastructure. Think that they may not be as volatility sensitive as transaction orientated and weak local currency. Android first.