I'd recommend listening to nostr:nprofile1qqs8spcgqfgzxkcnerak0t40xs8jfsecgkeywrnam3lvp4qvqp5zv3gpr4mhxue69uhkummnw3ezucnfw33k76twv4ezuum0vd5kzmp0ykzxyr episode with nostr:nprofile1qqstqlfpduhsgghvqffdmqdx2yac6zcv0mu99y0m7k59au3l3hmclfcprpmhxue69uhkv6tvw3jhytnwdaehgu3wwa5kuef08uzhpc if you want to hear the philosophy behind it. I think it's a great concept, but I don't think it's really targeted at westerners. It's supposed to be a custodial wallet that is used within smaller communities where you know the people that hold the keys.  

 That's what I've gathered.