I think we still have a long way to come in regards to handling private keys. In my efforts to get my family/friends informed on cryptocurrency it amazes me how difficult these things are.
I think that is why Coinbase has been so successful. If my mom wants to hold some bitcoin, I'm sending her to coinbase. She can't be trusted with her own private keys.
I'm interested to read more on the multi-sig escrow services you mentioned though. Do you have any recommended reading material on the matter? Thanks.
Perhaps we should go physical. After all we seem to cope rather well with physical keys. Perhaps we should set up an infrastructure with 3D-printing keys and backup keys. Key scanners are able to read the key if (and only if) you insert the key. The keys are designed such that it is not possible to copy them from a picture of them.
The idea is, if the majority of people understands private keys like they understand door keys, then perhaps managing cryptocurrency private keys will be possible for everybody? Perhaps with some prevention measures against physical loss or theft like Dapp-based insurance or arbitrage?
I think that is why Coinbase has been so successful. If my mom wants to hold some bitcoin, I'm sending her to coinbase. She can't be trusted with her own private keys.
I'm interested to read more on the multi-sig escrow services you mentioned though. Do you have any recommended reading material on the matter? Thanks.