Non-Custodial Philosophy
By being non-custodial, CRE8 ensures that:
Users retain control: They are not entrusting their funds to CRE8 itself. Even if CRE8’s servers went down, users could import their seed into another Solana wallet and still access their funds. This is a huge difference from Web2 platforms where if the company closed, the funds stuck in the platform are at risk.
Reduced liability for platform: From a business perspective, CRE8 not holding user funds means less regulatory burden around being a money transmitter or custodian. Instead, CRE8 provides the tools for users to self-custody.
Trustless interactions: It reinforces the trustless aspect — a seller knows the buyer’s funds are in a smart contract, not held by CRE8 Inc which might be subject to risks. And a buyer knows the seller can’t run away with funds because they never directly touched them until completion.
In conclusion, the CRE8 Wallet is built to give users a secure and seamless gateway to the platform’s blockchain features. It abstracts the complexity of Solana for the end user while preserving the self-sovereign principles of crypto. Whether users choose to use CRE8’s wallet or their own, the platform ensures a smooth experience so that the focus remains on exchanging services and value, not on dealing with technical wallet hassles.
Last updated