The landscape of asset management is evolving rapidly, with traditional custodians facing new challenges and opportunities brought on by advancements in technology. Visionary technologist, advisor, and investor Paul Salisbury, founder of Everlasting, is at the forefront of this shift, providing innovative custodial solutions that leverage blockchain technology.
As the world moves towards a digital future, investors have the opportunity to become not only their own banks but also their own custodians.
Traditional Custodians:
Custodians have long played a critical role in the investment world, safeguarding investors’ cash and assets while providing an additional layer of protection and oversight. Whether it’s an online investment platform used for purchasing individual shares or a KiwiSaver provider or fund manager investing on behalf of clients, custodians minimise the risk of theft or loss by holding assets on our behalf.
Despite their importance, many traditional custodians may not adapt fast enough. With the advent of blockchain technology and digital assets, the way we interact with our homes, incomes, currencies, and investments is set to undergo a fundamental shift. Everyday investors, through the use of a multi-signature digital wallet, can now step into the role of custodian for their digital assets (and eventually for traditional assets too).
Becoming Your Own Bank and Custodian:
One of the most significant innovations brought about by blockchain technology is the ability for individuals to become their own banks. With cryptocurrencies, people have long had the ability to control their funds without relying on traditional banking institutions. Now, with the advent of multi-signature wallets, they can also take custodianship into their own hands too.
Multi-signature wallets offer enhanced security by requiring multiple approvals before transactions can be completed, making it more challenging for hackers or unauthorised users to gain access to funds. This technology empowers everyday investors to manage their assets directly while maintaining a reliable backup system in place. Good for the investors, and good for their families too, long after their gone.
Conclusion:
The evolution of custodianship from traditional methods to blockchain-powered solutions is a testament to the transformative power of technology. As the financial landscape continues to shift, investors need to stay informed and adapt to these changes. By embracing blockchain and leveraging innovative tools like multi-signature wallets, investors can take greater control of their assets and prepare for the future of finance.
Paul Salisbury is a visionary technologist, advisor, and investor on a mission to explore the fringes of technology alongside fast-thinking, curious individuals, striving to achieve more with less and uncover possibilities beyond our imagination. With over two decades of experience, Paul has been making a significant impact in the tech industry.
As the founder of Everlasting Group, Paul has been leading the company since May 2021, offering cutting-edge solutions in the New Zealand market. He is also a Technical Council member at Enzyme, focusing on governance and security audits since September 2020. Paul’s dedication to innovation earned him a fellowship at the prestigious Edmund Hillary Fellowship (EHF) in October 2020.
Co-founding Blockchain Labs NZ in October 2016, Paul works with smart contract developers worldwide to advance the field while emphasizing security and usability. He also serves as a strategic advisor and director for Choice since March 2018, supporting its founders, securing angel investments, and assisting with early technical hires and prototype architecture.
