I can think of a number of use cases(Staking derivatives, asset issuance, cross chain collateralization etc) where it on chain code would be a helpful.
WASM seems like a great target for some SDK applications for on chain code.
One option is Perlin’s Life golang Wasm engine:
Concerns are mostly that it doesn’t seem to have good support for
Host functions to inject into the runtime environment. This pretty crucial if you want your wasm code to actually interact with the rest of the Cosmos SDK.
Wasmer has a C api that looks like it would wrappable in go and could be a nicer path to golang integration.