With the banking industry proving to be less and less dependable, how does one protect their assets, investments, and accumulated currencies? Just picture your bank running to the hills with all of your hard earned valuables and assets because all of your finances have flopped, and the market may crash. An event like this is a very possible event that may occur very soon in the financial markets as the industries begin to advance, change, and some markets are becoming a thing of the past altogether.
Financial specialists involved in a Canadian Digital money trade are preparing for market changes and creating solutions and prevention tactics in order to prepare their clients for a possible market crisis. The CEO of this group Gerald Cotton who is also the prime supporter of QuadrigaCX passed away from complexities with Crohn’s disease December 9th of 2018 during his trip to India. Gerald Cotten was visiting India to establish halfway houses and expand his organization’s philanthropical world extensive support.
Why is the death of Gerald Cotten relevant to the financial marketplace? Due solely to the fact that he was the only guy with Bitcoin passwords, and his death may cost Bitcoin Investors $190 million U.S dollars if a solution isn’t found to retrieve the passwords to the companies valued accounts. Without Gerald Cotten, his company is at a complete standstill, because they are unable to recover valuable assets, and are incapable of accessing their investments of crypto-currency funds.
CBC News covered the story of the death of the Crypto-Mogul, interviewing his Jennifer Robertson, Gerald Cotten’s widow, who also has no idea what his account passwords may have been which were to accounts containing over 115,000 investors deposited bitcoins. The Crypto-Currency platform, CoinDesk is also unable to retrieve the much-needed information because Mr.Cotten left no record of his passwords, or security alternatives making it almost impossible to crack into his accounts and recover the trapped assets.
Gerald Cottens Company QuadrigaCX is currently seeking legal protection from angry investors until they are able to retrieve the bitcoins invested into their company from their CEOs accounts. Bitcoin is one of the most reliable and widely used crypto-currency, is known for being a secure way to transfer value, because they must be stored on servers or “hot wallets” so that transactions can be immediate and can be overseen by the decentralized network of the blockchain. Premier Companies have been able to provide worry-free investment opportunities to their investors due to the security of the blockchain and Bitcoin, until now. With such a problem arising, is