Fedimint Uses Trust To Change The Nature Of Bitcoin Self-Custody
Fedi is working to change the face of bitcoin self-custody by onboarding millions of people onto bitcoin by getting them off exchanges.This is a transcribed excerpt of the “Bitcoin Magazine Podcast,” hosted by P and Q. In this episode, they are joined by Obi Nwosu to talk about the difference between Fedimint and Fedi and how Chaumian Mints can be used to onboard millions of people onto bitcoin. Watch This Episode On YouTube Or RumbleListen To The Episode Here:AppleSpotifyGoogleLibsynQ: How did the idea of Fedi — what inspired you and the team to say, “Hey,....
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Fedi raised $4 million to accelerate the development of the Fedimint protocol and its companion app Fedi — tools that can improve and scale bitcoin custody.
A new kind of custody could help alleviate issues presented by third-party custody like exchanges and first-party custody like hardware wallets.
The Fedi team is using the ideas behind Chaumian Ecash to develop alternative custody solutions in order to onboard many more people to bitcoin.
FediMint could provide the Bitcoin stack with an open source, distributed, censorship resistant custody layer for less technical Bitcoin users.
A community custody protocol, Fedimint wants to scale the Bitcoin network to a billion users located in the global south. “Bitcoin is for billions, not billionaires,” a phrase first coined by investment researcher Lyn Alden, could soon become a reality, according to Fedimint. The protocol that aims to scale Bitcoin (BTC) while making it more private, has been buoyed by a $4.2 million seed round for the Fedi application.Cointelegraph spoke to Obi Nwosu, co-founder and CEO of Fedi, about the “incredible group of inspiring people who we are working with to support their activities to increase....