Legacy Suite is Paving the Secure Way in the Digital Asset Revolution
The fast pace of crypto adoption requires the safeguarding of digital assets.
NEW YORK, May 4, 2023 (Newswire.com) - A developer of digital asset management solutions, including password managers and crypto wallets, Legacy Suite is enhancing its innovation in digital security and efficiency by safeguarding key digital assets as cryptocurrency continues its climb in the world of finance.
According to a special report on crypto adoption, cryptocurrency users are expected to hit one billion next year. Growing at a rate of over 100% a year, cryptocurrency users have adopted the blockchain industry even faster than the adoption of the internet back in the 1990s. It is expected that one in eight people worldwide will interact with or use crypto in some way in 2024.
"There is a digital asset revolution going on with the mainstream's acceptance of blockchain and cryptocurrency," said Legacy Suite VP Chris Bramwell. "Digital assets, such as cryptocurrencies and non-fungible tokens (NFTs), are already revolutionizing the way we think about and handle money, ownership, and the way we do business."
The digital asset revolution is reinventing financial services through cryptocurrencies with scalability, interoperability, and ease of use. If Bitcoin was the spark for the financial services revolution, then digital assets are expediting the revolution. Blockchain is altering many aspects of the global economy.
"Blockchain technology, the underlying technology that powers these digital assets, has the potential to transform many industries beyond finance, from healthcare to supply chain management," Bramwell said.
Four Important Components to the Digital Asset Revolution
- Decentralization: Blockchain technology enables decentralization, which means that data and assets can be stored and exchanged without the need for intermediaries such as banks, governments, or other centralized authorities. "This could lead to more transparent, efficient, and secure systems, where people have greater control over their own data and assets," Bramwell said.
- Security: Blockchain technology is inherently secure because of its decentralized and distributed nature making it difficult for someone to tamper with the data or assets stored on a blockchain and leading to increased trust and confidence in online transactions and reducing the risk of fraud and cyber-attacks.
- Efficiency: Digital assets and blockchain technology can enable faster, cheaper, and more efficient transactions. For example, cross-border payments can be settled instantly with minimal fees using cryptocurrencies and without the need for traditional banking intermediaries. "This could increase financial inclusion and reduce the cost of doing business globally," Bramwell said.
- Ownership and identity: Digital assets and blockchain technology can facilitate new forms of ownership and identity. For example, NFTs can represent unique digital assets such as artwork or music, which can be bought, sold, and traded like physical assets. "This could lead to new ways of monetizing creative work and could give artists more control over their own intellectual property," Bramwell said.
Digital assets are transforming the financial industry with crypto experiencing developments in defining ownership and value transfer while blockchain is decentralizing finance and disrupting Wall Street.
Legacy Suite's innovative digital asset management continues to evolve with convenience and safety for important digital assets providing digital security, power of attorney, and estate planning.
For more information on safeguarding your future, please visit www.legacysuite.com.
About Legacy Suite
Legacy Suite is a complete end-to-end solution providing first-class digital estate planning support, including wallet monitoring and crypto wallets. Legacy Suite is a secure solution for crypto self-custody and password management, which allows you to hold your own keys, set up directives, assign executors, and have peace of mind knowing that your digital assets will safely transfer to your next of kin.
Source: Legacy Suite