According to the director of the Korean Institute of Finance Gun-Pil Choi (Gong-pil Choi), the cryptocurrency market can grow more confidently, if in this segment of the economy will begin the introduction of services for the safe storage of digital assets. Storage of Bitcoin and Altcoins will be a decisive factor in solving the problem of hacker attacks, the CCN portal expert quotes.
The Institute of Finance of South Korea cooperates with the government of the country and conducts research in the field of effective market management. Choi is confident that the current system for storing tokens through managing public keys is too burdensome for cryptocurrency wallet owners. Such difficulties give a lot of inconvenience to investors, so they are still not in a hurry to invest in the purchase of digital assets.
In this regard, the institute proposes to introduce a cryptocurrency storage system on a cryptobank, which in all respects will resemble the traditional mechanisms of safe capital management through brokerage companies.
“ Cryptocurrency exchanges are still subject to high risks of hacker attacks, and storing private keys can be burdensome for investors. Even the traditional market carries certain risks for them, but the cryptosphere is still more dangerous for potential investors, as the mechanisms to prevent cyber threats have not yet been worked out , ”the director of the institute said.
Thus, if investors have the opportunity to use traditional services for storing capital in the cryptosphere, they will be more active in entering this market.
According to the representative of one of the South Korean blockchain enterprises Hwan Hen-Chol, such services will positively affect the attractiveness of the cryptocurrency industry. Investments will go massively into digital currencies , as companies and private traders will no longer fear the theft of their funds.
“If a major player who manages $ 1 billion in capital invests at least 1% of his money in cryptocurrency, this will be a great achievement. But such companies will enter the crypto market only if they are sure that their funds are under reliable protection, ” Hwan-Chol added.
Recall that some cryptocurrency companies have already begun to provide services for the free storage of tokens.
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