Compute instance creation - Block Volume Backup

Hi Team,

We are creating a compute instance in DBCS. While we create the instance,we have an option select backup policy with gold,silver and bronze.

Taken below statement from oracle blog.

"Oracle Cloud Infrastructure (OCI) Block Volumes provide reliable, high-performance, low-cost block storage. OCI Block Volumes persist beyond the lifespan of a virtual machine, have built-in redundancy, and can scale to 1 PB per compute instance."

When block volume as built in redundancy, is it required to choose backup policy while creating compute instance.

Please kindly suggest.

Thanks,

SGU