Comment by BoppreH

The proposal is strictly inferior to SQRL[1] plus emailing your friends shares of your secret[2]. You get private keys, no third parties at all, social recovery, but with no Blockchain costs. Bonus point: you automatically get a pseudonym for each app.

The point about financial incentives aligning more easily in web3 is good, but I understood that even the poster child Metamask is not complete as it's missing good social recovery UX.

Please stop trying to sell snake oil.

[1]: https://www.grc.com/sqrl/sqrl.htm

[2]: https://en.m.wikipedia.org/wiki/Secret_sharing