Comment by ChristopherDrum

I sincerely don't follow the logic on how Web3 "solves" the problem posited in the "But what if someone loses their private key?" section:

"Some of you might already be familiar with multisig, which is a similar concept... The idea here is that you could give keys to your friends and family, or to some sort of business service, then if you lose your key, use your friends to “vouch” for you and move the account to a new key. ... With social recovery, instead of having to trust Google, you can choose who you trust, and instead trust a given set of friends, family, and services. If you ever lose access to your private key, there is a smart contract encoded on the blockchain that syas that if some number of your guardians all agree (you pick the number) then you can move your account to a new private key."

I didn't see anything about Google being a requirement for multisig, so I'll skip the author's aside and ask, "How are these two things different?" Multisig lets friends "vouch" for us to move our account to a new key and social recovery lets friends "agree" to let us move our account to a new key.

These sound exactly the same to me?

The original writeup says something about "multisig moves the burden down to the user to issue keys" etc., but setting up smart contracts would still require someone to do some kind of setup work. Those contracts aren't just going to magically appear out of nothing; at the very least you'll have to select your friends, get their agreement, and a contract would have to be issued and signed.

I dunno, I still fail to "get it" (this is not an invitation to try and help me "get it", as helping people "get it" is kind of the point of the original blog post)