Ledger’s CEO Believes in Bitcoin as a Safe Haven Against Centralization
In a recent interview, Ledger CEO Pascal Gauthier shared his unwavering belief in the decentralized nature of cryptocurrencies.
A Cointelegraph article by Ezra Eguerra published earlier today (March 23) highlighted several interesting comments about crypto made by Ledger CEO Pascal Gauthier during a conversation with Cointelegraph reporter Joseph Hall at Paris Blockchain Week 2023.
Gauthier emphasized that any attempts to centralize crypto are doomed to fail, as centralization and crypto are “two magnets that are just not going to stick together.”
Gauthier discussed how the recent failures of major banks and incidents involving Celsius and FTX underscore the need for Bitcoin and self-custody solutions.
He explained that Bitcoin’s creation was a reaction to the 2008 financial crisis, emphasizing that central authorities cannot be trusted and will inevitably fail. When the market becomes stressed, and people fear for their savings, they turn to crypto and companies like Ledger for self-custody solutions.
Gauthier also pointed out in the interview that people are starting to recognize the harsh reality of banks in the current situation. Many assume that banks exist to safeguard their funds and that they will be reimbursed if a bank fails.
However, as recent events have shown, this may not always be true. This realization is pushing more people to learn about Bitcoin and its importance for the future.
When asked by Hall if traditional brands entering Web3 could threaten crypto’s decentralization, Gauthier confidently stated that it wouldn’t happen. He believes that brands have learned from Facebook’s failure to respect the decentralization ethos of crypto.
Gauthier asserted that any attempts to centralize crypto are destined to fail, as the core principles of cryptocurrencies are rooted in decentralization.