The rise of decentralized services and hardware security wallets means that we no longer need to rely on intermediaries to manage our financial assets and data, according to CEO Pascal Gauthier of hardware wallet Ledger, who has urged people to take on more responsibility.

Speaking to Cointelegraph at Surfin’ Bitcoin 2022 on Aug. 25, Gauthier said that the recent collapse of centralized exchanges has showcased why investors shouldn’t rely on intermediaries to manage their digital assets.

While most actors are well intended, Gauthier said “the [crypto] industry is too young”, the current state of the economy is “under stress” and if necessary, intermediaries will continue to prevent investors from accessing their holdings in times of need, citing the now bankrupt Celsius as a textbook example:

Gauthier admitted the bad news added “fuel to [their] business,” but reinforced that people need to “move their coins before it’s too late.” Though Gauthier unfortunately noted that people in crypto often need to “get burned a little bit” before learning the hard way.

But Gauthier also believes that the transition from Web2 to Web3 is taking its time because today’s internet users are content with the speed and efficiency of Web2 services:

Gauthier added that most people in today’s society see crypto as just another way to make easy money. However, they fail to understand that it can “give them control on their assets” and provide them “financial freedom.”

Related: Ledger reportedly seeking additional $100 million in funding

Ledger was founded in 2014, and is a leader in security hardware wallet infrastructure through the use of their built in ‘Secure Element and a proprietary operating system’, which is designed to protect digital