Ethereum started out painted inti a corner of proof-of-work blockchain, that they have been tryyng to get out of. The Three transitions are what Intercoin has designed from scratch years ago, and is currently raising the resources to do:
Scalability: This is what Intercloud was all about. Conceived in 2018, when Intercoin was just launched, it is about a completely different, embarrassingly parallel, non-blockchain architecture that can be thought of as “sharding the entire database down to the coins themselves” — but can support entire chatrooms and other “InterActivities”, not just coins.
Privacy: Intercloud would be recording only the hashes of the latest state of each InterActivity, with no need for zk-SNARKS or complex ceremonies for ring signatures. It is simply not concerned with the underlying data, leaving that to private actors and validators who are “in the know” and may or may not use end-to-end encryption in their communications.
Wallet Security: Intercoin Wallet was indeed conceived this year, and is much cheaper to build than Intercloud (around $50K budget). It ties Abstract Accounts to native authentication at the OS level to remove the need for downloads, 12-word phrases, and more. It is entirely web-based and adds security such as whitelisting smart contracts per site, clearly spelling out what transactions will do, etc. Any site will be able to include it in one line of code.