Learning to trust yourself

27 Jan 2023

Self-custody is a concept that is as old as the hills.
It has always provided individuals an equal amount of freedom and dread, whether they are hiding cash beneath their mattresses or keeping gold bullion in safes. The ability for people to have portable, secure self-custody of their possessions has just recently been possible thanks to cryptocurrency.
Self-custody is as fundamental to the cryptographic way of life as decentralization and peer-to-peer exchanges. These ideas enable blockchain technology to develop a brand-new, unheard-of form of asset ownership.
"I feel that self- custody is a vital principle of cryptocurrencies," explains Deniz, our CEO.
The absence of actual self-custody and lack of true self-responsibility were major causes of many crypto and traditional financial system disasters.
Before the advent of cryptocurrencies, a reliable middleman was required for ownership. When it comes to real estate, for instance, ownership can only be established if the owner holds the title documents and they match a record kept on a central register. People would easily lose their ownership of their land rights if another nation invaded or there was a regime change.
But with digital ownership, all you need to do to access your wallet and your assets is to have the wallet's keys, which you can do from anywhere in the globe. Those possessing cryptocurrency could leave the country and take their money with them, as we saw during the Russian invasion of Ukraine.
Although you can self-custody fiat money, you should do so safely.

Write & Read to Earn with BULB

Learn More

Enjoy this blog? Subscribe to Mayo


No comments yet.
Most relevant comments are displayed, so some may have been filtered out.