Blockchain security firm Redefine has joined hands with digital currency management platform Safe. The goal is to integrate the former’s platform De Fire Wall software into Safe’s infrastructure to ensure Safe can properly check each transaction and prevent any sort of illicit activity or fraud.
Redefine and Safe: A Perfect Match?
Safe has been garnering a lot of traction lately amongst web3 startups. The company has become the official asset holder for several of these new enterprises, as it’s presently the custody head for more than $50 billion in digital assets. The main intent for Safe is to begin bringing web2 users over to the web3 spectrum and set new standards for security and accessibility. Among Safe’s current big-name users include Vitalik Buterin, the co-founder of Ethereum, and AAVE.
Richard Meissner – co-founder and technical lead at Safe – said in an interview:
Improving the user interfaces of web3 platforms is one of the greatest tools we have in order to combat bad actors and exploits in this industry. The issue of blind signing, where users may sign off on transactions they are not fully informed about, is an area of concern as we look to make self-custody accessible to a wider range of users and organizations. By partnering with Redefine and integrating De Fire wall, Safe is offering greater transparency and assurance in their everyday transactions, enabling sustainable growth on the platform.
While crypto has come a long way in the last few years, the industry has suffered heavily from the lack of safety it’s still clearly suffering from. Scams, wallet hacks, and exchange attacks continue to plague the digital currency arena, and it’s become clear there are no easy answers when it comes to crypto’s ongoing safety problems.
De Fire Wall at least serves as a step forward. The platform works to check every transaction that occurs on Safe’s blockchain. Risk reports are created based on these transactions which are then followed by actionable insights. Security is strengthened for the company, while unauthorized fund use becomes significantly limited. Shira Brezis – CEO and co-founder of Redefine – mentioned:
Safe is an unrivaled and trusted platform that financial institutions and other users depend on for managing their digital assets securely. This integration combines two crucial elements for users: enhanced risk visibility and trusted security. We look forward to ushering in a new era of security with this collaboration between Safe and Redefine.
Keeping Web3 Safe
Redefine seeks to ensure the web3 industry is a responsible one. The company aims to mix cybersecurity solutions with blockchain analytics to engage in appropriate decision making and prevent any kind of loss or fraud.
As a leading self-custody company, Safe seeks a world centered on crypto in which security, usability, data, and identity are all thrown together.
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- Source: https://www.livebitcoinnews.com/redefine-blockchain-mixes-with-safe-to-enhance-transaction-security/
