The crypto revolution has come a long way since the inception of Bitcoin over a decade ago. What was once a niche interest for tech enthusiasts has evolved into a global financial powerhouse of activity. Throughout this, one thing is clear: safety is the key to the next billion users. Users need to feel safe in order to feel free to transact, create, trade, and even play. As the CEO of Webacy, a crypto security startup, I've had the privilege of witnessing the rapid growth of the digital asset space, and I know that we have a big positive shift in trust ahead of us that we can all play a part of.

Safety also extends to regulatory compliance and user protection. These measures are essential to shield investors from unscrupulous actors and maintain the integrity of the financial system. In TradFi, there were concepts like the FICO score and credit ratings for businesses. There was the DUNS number. Should the same concepts, like a Safety Score, come to fruition in the Web3 world? We think it is crucial for fintech and digital asset companies to proactively address these issues to attract and retain a growing user base, to self-regulate, and to create a safer environment for all. 

In the early days of cryptocurrency, many were drawn by the promise of quick riches. Cryptocurrencies like Bitcoin and Ethereum became synonymous with speculative trading and volatility. While this undoubtedly attracted a significant user base, it also created an environment that was rife with uncertainty and, in some cases, outright illegal activity. Gambling can be argued as a use case, but it isn’t a sustainable one. It doesn’t bring longevity to a technology, or create winners that are incentivized to help others. 

Now that digital assets can be used for everyday transactions, lending, and investments, just like traditional financial assets, we’re seeing utility in tokenization go beyond ape pictures - we’re seeing hope. To get there fully, we need to build trust and ensure that users' assets are secure. This transition from a speculative mindset to one of value creation fosters the development of a thriving and sustainable ecosystem, which is what we need for this industry to become a household topic.

At Webacy, we believe that safety isn’t just an add-on, but should be embedded into existing user experiences. We subscribe to the concept of embedded safety. Think encryption in our URLs, messaging. Think Face ID. Think Banking Alerts. We believe that it is the key to making the digital asset space not only safer but also more user-friendly. At Webacy, we took a step recently to introduce embedded “Safety Scores” into every single Unstoppable Domain. This was meant to help expose safety and risk issues with one’s owned assets, a decentralized domain. It leverages data analytics and machine learning to assess the risk associated with specific crypto addresses, transactions, or activities. The embedded experience is designed to provide users with a quick and easy way to assess the safety of a transaction or address. 

Maika is the CEO of Webacy - the protection layer for self-custody. Webacy develops tools and services to make self-custody safer and easier. Webacy is strictly non-custodial and no-access (no seed phrases, private keys, or passwords). Maika is also a former professional acrobat and performer for the Cirque Du Soleil brand of shows. She attended Stanford University and specialized in Artificial Intelligence. Maika was most recently a Cybersecurity Engineer for Microsoft. She is a Forbes 30 Under 30 lister.