With Atlas going live, teams like @X can integrate global payments immediately.
This looks like:
- every X account gets a wallet, with the UX integrated seamlessly into the existing web and mobile apps. These would be fully self custodial.
- txs presented not as an indecipherable block of hex, but similar to what you'd see in CashApp or Venmo.
- approving a payment tx uses the existing auth flow (e.g. passkeys)
Importantly, with Prividium the system would have user-level privacy. Users can see their wallet balance and txs, but not those of other users. X could see everything (just as X can see all of our private messages, but we can only see our own).
The system can process ~1.5B txs/day at a negligible cost per transfer, and can easily be scaled beyond that.
While the state of the system would be private to X, with ZK the correctness of the system would be proved and verified on Ethereum (allowing users and businesses to move value in and out of the system from L1 easily, and for X to inherit the billions of economic security that Ethereum provides).
You can go beyond this too. Imagine getting 5% interest on the stablecoins you have in your X wallet.
I'm sure @elonmusk & the team are thinking about this as I know payments has been something they've wanted for a long time. Maybe this is how (wrapped) @dogecoin becomes the world currency.
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