Institutions pay custodians for illusory safety. Bitcoin's onchain governance eliminates counterparty risk that traditional models reintroduce.
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.
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