For the record, there is no such thing as a managed cold wallet. Crypto is either exchange-custodied or self-custodied. If someone is given the unencrypted keys

For the record, there is no such thing as a managed cold wallet. Crypto is either exchange-custodied or self-custodied. If someone is given the unencrypted keys, it's as bad as donating your crypto to them. At least various major gift cards can be purchased using crypto. This is not sufficient for real world use, but it is not nothing either. Substantial real world use will have to wait for the collapse of national currencies due to their exponential debt.