What does the future of Web3 look like to SafePal CEO Veronica Wong?


Presented by SafePal

Because the world strikes towards a extra digital future, the idea of Web3 and its potential to revolutionize the web has develop into a sizzling subject within the tech {industry}. On this interview, SafePal CEO Veronica Wong, shares her insights on the way forward for Web3 and the present state of the crypto market.

She additionally talks about her ideas on the challenges and alternatives within the crypto safety house and the way SafePal is positioning itself to satisfy these challenges head-on.

Q: In 2022 the crypto house noticed some vital turbulence and the crash of a number of massive platforms. What do customers must know getting into 2023 as crypto traders, and the way can they higher shield their digital property?

Whereas black swan occasions broken the final religion in crypto, a big a part of it was as a result of opacity and malpractice of centralized platforms, and never an correct reflection of the {industry} as a complete.

Crypto continues to be a nascent {industry}, and threat administration and diversification are all the time vital. Traders ought to do thorough analysis earlier than leaping in blindly or taking the recommendation of influencers.

Battle-tested and established platforms will not be as thrilling as new tasks, however they’re usually safer, so traders must weigh out dangers and rewards in accordance with their threat urge for food.

Q: Will 2023 convey a brand new wave of adoption for Web3? Are prospects turning to self-custodial wallets now after the crash of one of many greatest centralized exchanges?

The malpractice of centralized platforms has certainly catalyzed the adoption of self-custody options. This could not simply be a brief surge of curiosity, however a key impetus to strengthen the adoption of self-management for property — which has usually been uncared for however is a key basis of crypto.

Whereas self-custody is liberating, this additionally means customers must be answerable for safeguarding their property towards malicious assaults and cling to finest practices encompassing pockets hygiene, safety measures and extra.

Builders ought to enhance UI, UX and safety, however customers additionally must put within the effort to learn instructional sources to enhance their understanding and consciousness.

Q: What does SafePal do to make sure the security of its prospects’ property?

SafePal’s flagship S1 {hardware} pockets retains personal keys totally offline with an air-gapped signing mechanism and an anti-tampering self-erasing mechanism for added safety.

We work carefully with exterior safety establishments like CertiK to judge merchandise and have a blacklisting mechanism to mitigate person publicity to malicious Third-party DApps — with 1500 taken down final yr. SafePal can be stringent with itemizing screening processes, and choice of ecological and marketing campaign companions.

As a crypto pockets suite, schooling is equally very important to constructing secure merchandise for customers. Guides are shared often by way of our channels, and we interact our community actively with AMAs.

Q: Regardless of the chilly blows of crypto winter, will 2023 convey a revitalized curiosity within the house?

The final financial outlook continues to be recovering, however efforts within the improvement of significant crypto tasks proceed. Developments in MPC know-how and account abstraction enhance usability and safety, whereas options like EIP4844 result in extra inexpensive fuel charges, which lowers obstacles to adoption and scalability.

We’re additionally beginning to see the “Pockets Wars” emerge — as extra firms dive into creating their very own variations, with crypto wallets popping up like mushrooms all over the place.

It is a optimistic development because it showcases an industry-wide recognition of the significance of self-custody, driving innovation and worth for customers which can in the end revitalize curiosity this yr.

Q: Even on this tough local weather, SafePal expanded its person base greater than twofold to over 7 million customers globally. What are the most important achievements and the most important challenges you confronted in 2022?

Together with the expansion of our person base, we’ve remained on the forefront of cross-chain interoperability by supporting 55 blockchain networks and their native tokens, and we additionally launched our browser extension in July final yr to develop into a completely complete crypto pockets suite.

It has been difficult to supply high quality {hardware}, software program and browser extension product strains on the similar time, however this has allowed us to compete with the likes of Ledger and MetaMask as few platforms have the required sources and experience.

We’ve additionally remained worthwhile whereas scaling our staff globally for the previous 3 years.

Q: What are your plans for this yr? Any formidable objectives you’re trying ahead to reaching within the upcoming months?

SafePal is blessed to have fun its fifth yr anniversary, regardless of the challenges confronted by the {industry} final yr. We is not going to relaxation on our laurels and purpose to develop our person base aggressively by persevering with to enhance the standard and performance of our merchandise.


Plans to attain this embody implementing social logins and restoration to enhance accessibility and safety continued efforts to develop into open-source, and extra. We’re additionally trying so as to add options to assist customers higher handle their NFTs and fight the focused scams and exploits that are on the rise.

Blockchain integrations and significant partnerships with main platforms will stay a part of our core efforts. We can even proceed scaling our staff internationally to strengthen our community and tackle language obstacles for our more and more world person base.

Study extra about SafePal

Disclaimer. Cointelegraph doesn’t endorse any content material or product on this web page. Whereas we purpose at offering you with all vital data that we might get hold of, readers ought to do their very own analysis earlier than taking any actions associated to the corporate and carry full accountability for his or her choices, nor can this text be thought of as funding recommendation.

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