• MyEtherWallet CEO believes that blockchain technology should be used for decentralised purposes.
• Creating centralised products defeats the purpose of using blockchain technology, says the CEO.
• MyEtherWallet remains one of the oldest non-custodial wallets in the Ethereum ecosystem.
Kosala Hemachandra, the CEO of MyEtherWallet, believes that blockchain technology should be used for decentralised purposes. In a recent interview with Cointelegraph, the CEO stated that creating centralised products defeats the purpose of using blockchain technology. He added that MyEtherWallet remains one of the oldest non-custodial wallets in the Ethereum ecosystem, and that the company continues to operate as a decentralised wallet because it believes it is the only proper way to use blockchain technology.
Self-custody has been gaining traction in the crypto space since the collapse of the FTX crypto exchange two months ago. MyEtherWallet was launched roughly two weeks after the Ethereum mainnet launch, and since then, it has been providing a secure, non-custodial wallet platform for users to store their Ethereum and other ERC-20 tokens. For added security, the wallet is designed to ensure that the users are in full control of their funds, and all private keys and other sensitive information are stored locally, not on the MyEtherWallet servers.
The CEO also commented on the company’s plans to do an airdrop. He stated that the company does not have any plans to do an airdrop yet, as it prefers to remain a decentralised wallet. He concluded by saying that decentralisation is how blockchain should be used, and that MyEtherWallet is committed to providing users with a safe, secure, and decentralised platform to store their funds.