Proud to back @biconomy and the awesome @AraBalaghi @schin_tomar and @aniket_jindal08

Giving developers > time to improve their product v working on transaction management will have a big part to play in crypto crossing the chasm to mainstream adoption.

https://www.edenblock.com/post/biconomy-investment-thesis https://twitter.com/CoinDesk/status/1348555881672306690

See here for why we invested in Biconomy - https://www.edenblock.com/post/biconomy-investment-thesis

Similar to how Stripe’s mission is to “increase the GDP of the internet”, Biconomy’s mission is to grow the size of the global crypto economy.

Although most Ethereum metrics paint a rosy picture, this chart illustrates the core problem which Biconomy seeks to solve: how to grow the daily active addresses on Ethereum (and in crypto more broadly) beyond 500,000 DAUs.

Technology that reduces friction expands markets. Great examples are Airbnb in the hotels market, Uber for taxis, WhatsApp for text messaging.

Biconomy's transactional infrastructure abstracts away crypto transaction complexities for both developers and users.

A critical difference between Web2 + Web3 products is that users of traditional web and mobile applications never interact with the backend infrastructure that runs the application.

Crypto UX acts as a massive barrier to those other than true believers and visionaries.

Developers are very aware of the need to improve UX in crypto; however, resource constraints also mean allocating developer time to a seemingly second-order priority often isn’t feasible.

Managing meta-txs, tx batching, and gas optimisation etc is a nightmare for developers

Biconomy solves these developer problems with just three lines of code: enabling easier onboarding of users, guaranteed Tx for users, lower costs, and opening up lots of L2 possibilities.

Every protocol cooperating and competing in a dance of coevolution will result in ever more complex structures over time.

Platforms like Biconomy are needed to remove the barriers to help 1000s of new crypto businesses and dApps get started and ultimately to scale