{"id":3562,"date":"2024-01-02T07:58:17","date_gmt":"2024-01-02T07:58:17","guid":{"rendered":"https:\/\/ethereumcode.io\/us-ambassador-demands-regime-change-sec-unreasonable\/"},"modified":"2024-01-02T07:58:17","modified_gmt":"2024-01-02T07:58:17","slug":"us-ambassador-demands-regime-change-sec-unreasonable","status":"publish","type":"post","link":"https:\/\/ethereumcode.io\/us-ambassador-demands-regime-change-sec-unreasonable\/","title":{"rendered":"Former US Ambassador Calls for Regime Change, Labels SEC as Unreasonable"},"content":{"rendered":"
In recent developments, Kresus CEO, Trevor Traina, has mapped out an insightful projection of the digital landscape where he sees an evolution in non-custodial mobile wallets<\/strong>. He believes that instead of just merely storing digital finance, these tools will undergo a holistic transformation to cater to the broad needs of the growing Web3 community<\/strong>.<\/p>\n An entrepreneur with significant contributions around the business stratosphere, Traina foretells a monumental change bound to redefine user-friendly access to Web3 solutions. He is hopeful for innovative directions in the blockchain and crypto realms, extending to a future of outmatching hardware wallets in aspects of security and trust.<\/p>\n Traina’s primary motivation originates from an envisioned outlook for an all-in-one solution, a Web3 wallet that incorporates everything into itself. The U.S. former ambassador to Austria demonstrated fervor and belief in the capability of non-custodial wallets, particularly how they might soon catch up or even outperform hardware wallets.<\/p>\n His conviction lies in the continuous efforts to upgrade and enhance non-custodial wallets’ security features. Traina is not shy about stating his views against the U.S. Securities and Exchange Commission’s (SEC) approach concerning crypto management. In his perspective, it resulted in the US hosting just two out of the 20 largest blockchain projects making the SEC increasingly detached from the market pulse.<\/p>\n Talking about his initial encounters and transition into the crypto universe, Traina explained that his eagerness finds its roots in the potential of the universal ledger system. His estimation reveals that more than just a medium for cryptocurrencies, blockchain innovation could be the next big thing in decentralizing and attaining transparency in countless aspects.<\/p>\n He cites contract dealings, tickets handling, loyalty points, and much more as potential use-cases which can benefit extensively from blockchain-powered implementations.<\/p>\n When probed about non-custodial mobile wallets, Traina detailed how he sees a future where they can morph into more than just digital assets storage. He emphasized the removal of restrictions that allow these applications to evolve and integrate many functionalities that cater to the varied needs of Web3 communities.<\/p>\n Kresus sees huge potential in transforming these wallets into an all-in-one user interface enabling the integration of multiple features in one place. This approach resonates with the industry’s direction to make Web3 accessible and user-friendly for everyone, according to Traina.<\/p>\n Traina elaborates on how a Web3 super app successfully unifies and streamlines numerous account attributes from various chains for a smoother user experience. It’s a complicated issue considering the segmented nature of the existing blockchain ecosystem.<\/p>\n At Kresus, they have employed advanced interoperability protocols and intuitive design principles. The objective is to give users a comprehensive overview of their digital holdings, simplify the User Interface and bringing blockchain technology to a more extensive audience.<\/p>\n Talking about his application, Traina revealed that Kresus does not burden users with safeguarding keys. Instead, it relies on a software development kit (SDK) called Magic and stores the private key on an AWS Hardware Security Module (HSM) designed for highly valuable data. This approach provides a balance of security and usability that rivals the safest of hardware wallets.<\/p>\n Traina insists on the capability of non-custodial mobile wallets to compete or even surpass hardware wallets when it comes to security and user trust. Kresus, like many companies in the crypto space, prioritizes security and continually updates its measures.<\/p>\n To reduce possible fraud or theft, platforms like Kresus employ multiple-factor authentication, biometric security, and regular security audits. These steps provide a level of security comparable to\u2014if not exceeding\u2014that of hardware wallets.<\/p>\n Lastly, Traina criticized the American SEC’s current stance on crypto regulation. He decries the body for its inability to notice the importance of fostering a favorable atmosphere for the promising technology.<\/p>\nVisionary Foresights on a Comprehensive Web3 Wallet<\/h2>\n
Thoughts About Transitioning into the Web3 Domain<\/h2>\n
The Potential for Non-Custodial Mobile Wallets<\/h2>\n
The Interwoven Nature of Super Apps<\/h2>\n
Leveling Up Non-Custodial Mobile Wallets<\/h2>\n
Competition Between Non-Custodial Wallets and Hardware Wallets<\/h2>\n
A Poor Regulatory Stance on Cryptos<\/h2>\n
Ethereum Code’s Role in This Revolutionary Landscape<\/h2>\n