Trust no one with your coins, warns Ledger CEO

The rise of decentralized services and hardware security wallets means we no longer need to rely on intermediaries to manage our financial assets and data, according to Ledger CEO Pascal Gauthier.which has urged people to take more responsibility.

Speaking to Cointelegraph at Surfin’ Bitcoin 2022 on Thursday, Gauthier said that the recent collapse of centralized exchanges has shown why investors should not trust intermediaries to manage their digital assets..

Although most actors have good intentions, Gauthier said that “the industry [de las criptomonedas] is too young”, the current state of the economy is “under stress” and, if necessary, intermediaries will continue to prevent investors from accessing their holdings in times of needciting the now broken Celsius as an example:

“Don’t trust your coins and private keys to anyone, because you don’t know what they are going to do with them.”

Gauthier admitted that the bad news added “fuel to [su] business”, but reinforced that people need to “move their currencies before it is too late”. However, Gauthier unfortunately noted that people in the crypto space often need to “get a little burned out” before learning the hard way.

But he also believes that the transition from Web2 to Web3 is taking time to come about because in today’s Internet users are satisfied with the speed and efficiency of Web2 services:

“A lot of people are still on Web2 […] because he wants to stay in the matrix where he’s controlled because it’s easier, you know, you just click yes, yes, yes, and then someone else will take care of your problems. It’s all very well, but I don’t really think that’s how you break free. […] Taking responsibility is how you free yourself.”

Gauthier added that most people in today’s society see cryptocurrencies as one more way to earn easy money. However, they do not understand that it can “give them control over their assets” and provide them with “financial freedom”.

Ledger was founded in 2014 and is a leader in secure hardware wallet infrastructure using its built-in ‘Secure Element’ and proprietary operating system,” which is designed to protect digital assets. As of June 2021, Ledger had sold over three million hardware wallets.

In addition to Ledger’s security products, Gauthier said that the company has also taken an educational approach to help ordinary people understand what Web3 is trying to do:

“We spend a lot […] of our money […] in content creation and education [para intentar] educate people, legislators, regulators […] so that people understand what all this means, why it is an opportunity, why freedom is being challenged today […] in today’s society [y] why [esta] technology needs to evolve […] make people freer than they are today”

Looking to the future Gauthier said he is excited to see how blockchain technology develops and what crypto applications will bring mass adoption. With a horizon of 20 years, Gauthier added that “what we are going to see in 20 years are things that we still cannot imagine”.

Clarification: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information set forth herein should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.

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Trust no one with your coins, warns Ledger CEO