As the co-founder and CEO of Dynamic, an all-in-one authentication platform, Itai Turbahn spends a lot of time thinking about wallets. And he’s convinced they’re going to be ubiquitous across the web.

In a conversation for the inaugural Variant Founder Fellowship, Itai laid out the landscape of the wallet-as-a-service space, weighed in on MPC vs. account abstraction, and explained why wallets aren’t just the new email address—they’re better.

Below the video, check out our biggest takeaways from his talk.

Everything is going to be a wallet.

In Itai’s view, all companies want to “implement financial services into their application or onto their website.” There’s no better way to do that than a wallet, which you can use for payment, messaging, and memberships. “Wallets,” he says, “are essentially superapps.” (Hear Itai describe how he believes existing apps will tactically incorporate wallets at 3:50.) 

There’s no one wallet solution.

There’s a huge debate in crypto right now over multi-party computation versus account abstraction. But if you ask Itai, MPC and AA work together, and aren’t really competitive. “There is no one solution that’s a winner,” he says. “Rather, there are solutions that are a fit for your specific need.” (Listen to Itai talk about the three different lenses for viewing wallet-as-a-service solutions and which defaults app developers can use to minimize decision-making at 6:50.)

Compare your situation to Amazon’s. 

“In the 90s,” Itai asks, “did Amazon have to teach people about creating an email address” so they could sign up for an account? The answer, in some cases, was actually yes. “We’re at the same stage with wallets,” he says, and thus you must seek to abstract away some of the complexity for your users. (Hear how Itai thinks wallet creation will change in the next 10 to 20 years at 18:05.)

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