the idea of being our own bank might be the challenge cause we are completely responsible for our holdings so if our system becomes vulnerable then attackers can assess the keys or wallets itself and drain your wallet.
I feel that is the most we can do for security and also privacy, you cannot be scared about securing your own funds and then trust others to keep it for. The kind of attention you will pay for any of your things is certainly not measured same to how a person or an entity will have over yours. And if you are kind of too scared then there are options like trusting your kin or families to keep some for you rather than storing these keys on platforms that either the developer would one day compromise or some of its work will. But with multiple back or using kin and family then you know where or who must have been involved in compromising your funds. I still think the best of bitcoin and crypto currency at large is the been our own bank.
I think, to address this challenge, the crypto industry needs to adopt a comprehensive approach towards security and privacy. One of the steps that can be taken is that the crypto industry must continue to develop and implement new security technologies to protect users' crypto assets. This includes the use of strong encryption, innovative identity authentication technologies, and sophisticated threat monitoring and detection.
The problem is all these authentication are actually available but the major problem is as technology advances with developers trying to create extra layers of security so will scammers, there is no way beating this. The thing should be people should seek out adequate knowledge in everything they want to get into and shouldn’t be in a rush to do things like installing or updating apps, verify them diligently. Even if people use encryption they would still get compromised if they aren’t careful. Take off your keys off online services no matter how hard it is for you to be your own bank. People should also be less greedy because most of the major scams are through phishing which are followed through by people that want to earn through faucets or airdrops