Opinion by: Kevin Loaec, CEO of Wizardsardine
For decades, institutions have followed a familiar pattern when managing assets. They choose a large, regulated custodian. Then, institutions transfer responsibility. Institutions rely on the assumption that scale, compliance and insurance equate to safety.
In traditional finance, this approach holds. Transactions are reversible, central banks provide backstops and regulators can intervene. When something breaks, there are mechanisms to absorb, unwind or redistribute the damage.
Bitcoin changes those assumptions completely because it is a bearer asset. Control is defined by cryptographic keys, and not account credentials. Every single transaction is final. There is no authority that can freeze, reverse, or recover funds once they move onchain….
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Source cointelegraph.com
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