To reach private investors, there needs to be a better way to create seed phrases
The popular opinion on how to self-custody Bitcoin is to order a hardware wallet and let it generate a seed phrase for you. Then securely store that phrase so that you always will be able to access your coins. This might feel fine if the amount you put into that wallet is something you could rebuild in case of a loss. Say you are 25 and worked for 3 years so far. Then you might be ok betting that saved money on the integrity of the seed phrase the little box has created. But most wealth is held by investors who have been working and saving for decades. And might never be able to recover their loss if the seed phrase generator has been tampered with. Either by the manufacturer (out of incompetence or malice) or via a supply chain attack. Institutions can avoid this by setting up more elaborate processes to secure their coins. But to reach private investors, there needs to be a better way to create seed phrases.
IMF Head Foresees the End of Banking and the Triumph of Cryptocurrency. Bitcoin "puts a question mark on the fractional banking model we know today."
Man entered the Federal Bank in Beirut with a shotgun and a canister of petrol and threatened to set himself on fire unless he was allowed to take out his money. A tragedy that can be avoided if he held his keys on Bitcoin standard.