Fireblocks, represented by its CEO and founder, Michael Shaulov, has announced the launch of its new non-custodial wallet at the Permissionless event. This wallet is designed to help corporations achieve their Web3 dreams in the rapidly changing realm of blockchain and Web3 technology.
Shaulov emphasized that many corporations face the challenge of transitioning from innovation labs to full-scale production in the Web3 domain. Despite the surge in interest from Fortune 100 companies, only a fraction of these projects have successfully made the transition.
One of the main barriers hindering corporations from embracing Web3 initiatives is the perceived risk. Corporate teams responsible for assessing risks need assurance that these initiatives won’t jeopardize the organization’s reputation. Regulatory risk and the risk of interacting with sanctioned entities are major concerns. Questions around accounting for cryptocurrencies in financial transactions and the licenses required to operate in the Web3 space have left many organizations puzzled.
Another important aspect Shaulov stressed was the matter of cybersecurity in Web3. Ensuring a secure environment for corporate assets and user interactions is paramount. The non-custodial wallet includes building blocks for key recovery and backup, providing a seamless experience even if the user loses their key.
Expanding the user base beyond the crypto-native audience is another challenge for corporations entering the Web3 space. To tackle this, the wallet SDK offers a secure onboarding experience for users with minimal crypto knowledge.
The SDK also simplifies interactions with blockchains and smart contracts by offering integration with over 40 different blockchains. This streamlines the development process for corporations and allows developers to seamlessly integrate the SDK into various applications, including mobile and web.
Fireblocks boasts a user base of approximately 130 million wallets and holds SOC 2 Type 2 and ISO 27001 certification, emphasizing its commitment to cybersecurity.
The launch of the non-custodial wallet service SDK represents a significant step towards bridging the gap between corporate interest in Web3 and successful adoption. By addressing regulatory challenges, enhancing security, and providing educational resources, the SDK paves the way for corporations to confidently embrace the Web3 revolution and unlock its full potential.
In conclusion, Fireblocks’ non-custodial wallet and SDK offer corporations the tools and resources they need to overcome barriers and achieve their Web3 dreams. With a focus on regulatory compliance, security, and user onboarding, Fireblocks is helping to drive the adoption of Web3 technology in the corporate world.