: Experts believe that the applications consumers can use are Objkt, fxhash for NFT on Tezos, plenty, Youves for defi, yupana
Poorvi Sachar, head of operations, Tezos India, a blockchain adoption entity, shares her views on how usage of hardware wallets can ensure safety of digital assets with FE Blockchain.
1. What are the three best practices that today’s youth should follow when it comes to digital assets?
Today’s youth needs to do their own research and never fall for scams. It is always possible that greed seeps into their conscience while dealing with digital assets. It is advisable to never be a party with it. One must always use hardware wallets to be safe & secure.
2. How can blockchain be used to keep digital assets safe? Which are the apps consumers can use?
Blockchains being one of the safest technologies needs to be used properly. Avoid doing unnecessary signatures, and unaudited protocols and disconnect revoke permissions from new dApps. Hardware wallets come in handy for such propositions. It is advisable to be safe with established dApps as well.
According to me, the apps consumers can use are Objkt, fxhash for NFT on Tezos, plenty, Youves for defi, yupana (lending borrowing)
3. What are three tips you would like to give to people who dabble in crypto trading?
Three major tips that we can give to the ones engaging in crypto trading are:
1. Do your own research
2. Don’t fall into scams
3. Do not FOMO or don’t let greed take in
4. Which according to you is the country leading in the space and the Indian start-up ecosystem can pick up the best use cases?
The Indian startup ecosystem can make the best use case of NFTs which are digital assets that intend to bring ownership to oneself. It can empower artists, sportspersons, gamers and almost every industry especially startups can adopt the use of NFTs
5. What are the disadvantages of blockchain?
Certainly, blockchain technology comes with some drawbacks as well. There are technological barriers involved in actively achieving complete decentralisation. Blockchain is based on the principles of decentralisation but it is a well-known fact that no system or entity could be 100% decentralised. It is possible that with blockchain technology, taking time-bound decisions and ideal governance could be a major problem.
Also Read: Metaverse, blockchain, decentralisation – what’s next