The cryptocurrency community places a strong emphasis on privacy, with many projects and technologies being developed specifically to protect the privacy of users, making it difficult for outside parties to track or trace the flow of funds. The use of these technologies helps to preserve user privacy and increase financial freedom, which are core values within the cryptocurrency community. However, it’s also worth noting that not all cryptocurrencies prioritize privacy, Bitcoin for instance its transactions are transparent and it’s not anonymous.
Following the collapse of FTX, outrage among the privacy-conscious cryptocurrency community sparked with ConsenSys (the entity behind Ethereum wallet MetaMask) allegedly expanding its collection of personal data. The Philippines ranks third with the highest number of MetaMask users worldwide (next to the United States and Brazil), thanks to Axie Infinity.
The Tetrix Network, a collection of projects led by Filipinos that started in 2020, aims to change the way blockchain are designed and developed. The project — by building products, tools, resilient infrastructure, sustainable, and inclusivity — wants communities, enterprises, governments, and individuals to interact and coexist in the same ecosystem without having to worry about different blockchains.
When we talk about protecting one’s crypto assets across the blockchain space, non-custodial technology and crypto wallets provide the highest level of security by giving users full control of their wallet’s contents, such as funds. More people now are becoming aware of the importance of keeping their assets safe, secure, and in their control.
“You have to first understand what you want. If you want to go for an exchange to trade, it is most likely that you will choose a custodial wallet. There are a lot of custodial wallets out there, and you can choose the best adopted by people. Pitaka is a self-custodial wallet with its sole purpose to secure your digital assets like cryptocurrency, data or information, or anything that you like to be stored in a digital format,” according to Emman Navalan, Co-founder and CEO of Tetrix.
Pitaka, a crypto wallet available for mobile devices and as a browser extension, allows users to store, manage, and exchange cryptocurrencies and digital assets — giving users peace of mind and financial freedom.
Another project from Tetrix is called Link, which enables users to control the way their personal data is used and shared, by giving them full control over all their information. The application is available to all devices as long as they are equipped with an NFC scanner and QR Code reader.