Until consumers use decentralized technology, tech giants and centralized intermediaries will control assets and data, warned the Ledger CEO.
“Decentralized services and hardware secure wallets mean we no longer need intermediaries to manage our financial assets and data”, says Ledger CEO Pascal Gauthier, who urges people to take more responsibility.
He said that investors should not rely on intermediaries to manage digital assets and stated “the [crypto] business is too new,” the economy is “under stress,” and intermediaries will continue to block investors from accessing their holdings in times of need. He used the now-bankrupt Celsius as an example.
“Don’t give anyone your coins or private keys because you don’t know what they will do” Gauthier admitted bad news boosted sales, but urged people to “transfer their coins before it’s too late.” Gauthier stated that crypto individuals frequently need to “get burnt” before learning.
“A lot of people are still in Web2 […] because they want to stay in the matrix where they’re being controlled because it’s easier” he added “Most individuals consider crypto as a way to generate easy money, according to Gauthier. They don’t realize it can give them “asset control” and “financial freedom.”