True. BTW OTP is less than 10% of CPaaS volumes. People like Elon Musk make drastic decisions. Most companies won’t. Even twitter has kept OTP for paid subs and removed it for non-paid only.
In any industry new use cases emerge, and old use cases die or stop growing/decline. We should not get triggered at micro events and focus still at macro level.
For example, for Indian banks transactional sms is a cost. But they charge monthly cost (for messaging) to most class of customers and actually make money on it. They have a business case to send more sms and not less. Further their losses/impact on security far outweigh the cost of OTP. The Nasscom and fintech push to RBI to remove sms mandate, is a non-starter in my opinion and wordt case, even if RBI agrees, chances are all banks will still continue on sms for the foreseeable future. They need common ground across all and sms is the only common thing.
Unfortunately, while the threats are well understood and maybe overstated (maybe something to do with the bear market we are in too) the root causes for positivities is not well understood as some of it is counter-intuitive.
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