Webacy Turns 3!
Today, Webacy turns 3 🎉
It feels both like a lifetime and a blink of an eye, something many founders and startups may be able to relate to. We started Webacy with the same goal that drives us today: make digital assets safer for everyone.
This goes further than security and risk mitigation.
Many of the things people build are means to an end. We didn’t build railroads because tracks on the ground are cool - we built them to get places. We don’t build safety and security systems because cybersecurity gives meaning to being alive (well, maybe for someone out there) — we build safer systems to enable free and unburdened use for whatever they protect. Safety and security are a prerequisite to exploration, collaboration, and growth.
Today, digital assets are now mainstream. ETFs are going live every day, and major financial institutions (even nations) are launching their own stablecoins. There is a ton of investment and things being built in this space. The entire market cap is just over $2 trillion. Dogecoin(!!) alone had $300mm+ in trading volume in the past day. When you’re heads-down building in this space, you learn a lot. For one, crypto changes rapidly. An important protocol one day may be made irrelevant the next with the introduction of a new EIP (Ethereum Improvement Proposal) or a preference towards abstraction. The development cycle surges forward in many directions at once, leaving us facing hundreds of blockchains and an even greater number of potential futures. Where does it all go from here?
As a rapidly growing startup in one of the most volatile industries ever seen, we’ve had to build towards a vision of a future that we anticipate while also providing value to users and companies in this current moment in time. This is no simple task. Still, we’ve seen serious growth across our company and we are proud of the milestones that we’ve achieved including: protecting over $2B in assets across our consumer stack, analyzing over 10mm+ addresses monthly through our Risk Engine, and protecting even more users daily through our rapidly growing EmbeddedSecurity program and partner integrations.
A bright path lies ahead for Webacy.
- Regulatory clarity enhances the need for companies to include a layer of activity analysis and risk mitigation on their platforms. Webacy provides these services through easy-to-use APIs, enabling teams to stay safe and compliant without building these solutions in-house.
- Users and companies are waking up to the importance of on-chain safety. A safer user is a more valuable user, and protecting the lifecycle of an address’ actions on-chain is critical for increased usage of blockchain technology and eventually– yes, mass adoption.
- The Webacy Safety Score simplifies the often-complicated risk data analytics landscape, aggregating data for the best coverage and accuracy available in the ecosystem. Similar to the credit-score type model monopolized by older companies like TransUnion, Equifax and Experian, the decentralized Webacy Network paves a better future for digital assets.
A word of caution to those building within the blockchain space: don’t overlook security. The amount of times we hear “security is not a priority to us right now,” throughout our three years is shocking, and perhaps reflective of the terrible track-record of scams and illegitimate activity associated with the crypto industry thus far. Those who get it, get it, and become better businesses with better customers. A safer customer is a more valuable one.
In the years ahead, we are excited to build upon the powerful technologies and relationships we’ve been fostering. It’s an exciting feeling when the flywheel starts to spin and everything you hear about building a company suddenly starts to click. Even more meaningful is the feedback we’ve received from customers and the impact our tools have had. Bluntly, it feels good to build something of value in an environment highly indexed on extraction.
Webacy is excited to continue building technologies that enable a safer digital future for all.
With gratitude,
Maika