Part 6/13:
The Significance of Proof of Reserves and Custody
Considering transparency, Peter and Tyler discussed proof of reserves as a means to bolster trust. They’ve explored this avenue, especially around custody audits, to demonstrate actual Bitcoin holdings. Peter likened this to gold vault transparency, noting that while physical gold can be audited via vault tours, Bitcoin’s transparency on the blockchain itself offers unique advantages. They stressed that Gemini’s custody addresses are distinct and auditable, providing security and confidence.