A digital currency firm, Wittytech Limited, has launched Africa’s first Non-Custodial Peer-to-Peer Cryptocurrency Exchange Platform.
The platform will ensure the seamless transaction of digital currencies while solving the challenges and risks associated with cryptocurrency trading and custody.
In a press statement issued recently by the founder of *the* platform, Dan Ewah, the Vision of WITTY is to play the major role in breaking the third world fence by leveraging Permissionless and Trustless Technologies.
“WITTY has opted to decentralise the *peer-to-peer system of cryptocurrency trading*, as against the centralised nature of most exchanges and even fiat money system.
“It is said that when the purpose of a thing is not known, abuse is inevitable. It is important to note that cryptocurrency was conceptualised to address the problem of centralization of assets.
“A situation where a few had custody and control of everybody’s assets was perceived to have its limitations and flaws. So, crypto set to change that. As the crypto space continues to mature, we have seen the same centralisation which crypto was created to address. Today, most exchanges are centralised.
“The risk of this is further emphasised when you think that every now and again, there are cases of mismanagement or even embezzlement by *the* management of regulated traditional financial institutions. So, you begin to shudder at the level of risk that users are taking by allowing exchanges *to* custody their assets, seeing that most crypto exchanges are not regulated.
