INTRODUCING KREDO: BANKING WITHOUT ACCOUNTS — SPENDABILITY WITHOUT OWNERSHIP
Blog—Philosophy—Why We Killed the Account
Philosophy2025-10-22

Why We Killed the Account

The account is a legacy artifact of physical banking. In a cryptographic world, it's a liability. Here's why Kredo replaced accounts with proofs.

Why We Killed the Account

Why We Killed the Account

Authorization-Based Finance

Why We Killed the Account

For centuries, banking has revolved around a single assumption: to spend money, you must first hold it.

This assumption forced every participant to become a custodian. It created "accounts," "balances," and "wallets"—artifacts that shape how we think about value.

But in the on-chain world of 2025, the account is a bug, not a feature.

The Liability of State

Every account you own is a liability. It:

  • Leaks Privacy: Your balance is a public signal.
  • Increases Risk: Your keys are a single point of failure.
  • Fragments Liquidity: Your money sits idle when you sleep.

The Kredo Alternative

Kredo eliminates accounts entirely. Users never exist as persistent financial entities on-chain.

Instead of proving "I own this money," you prove "I am authorized to spend this amount."

This shift from ownership to authorization allows us to build systems where privacy is structural. If you don't have an account, you can't be tracked. If you don't hold funds, you can't be robbed.

We didn't just optimize the bank account. We deleted it.