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Blockchain’s immense potential in underbanked nations requires robust infrastructure, SecureDApp founders say
Blockchain technology has truly been a disruptor in the information technology industry as its utility has gone beyond cryptocurrencies and touched several fields including artificial intelligence, entertainment, healthcare, logistics, and banking.
Today, the blockchain technology market is expected to reach a value of $27.84 billion by the end of 2024 and will eventually reach $825.93 billion by 2032.
Seeing the potential of this transformative technology, there is an inherent need for a robust security infrastructure to safeguard the interests of investors in the cryptocurrency industry. The Crypto Times held a conversation with Himanshu Gautam and Abhishek Singh, co-founders of SecureDApp, a blockchain security solution, to understand the need for robust infrastructure and the potential of blockchain technology in under-banked Asian countries. Below are excerpts from a freewheeling conversation.
SecureDApp offers a full range of services for developers building decentralized applications (DApps),
The shared numbers are an interesting indicator of mainstream adoption. However, from a blockchain security perspective, we believe that a strong security infrastructure is the cornerstone of a thriving blockchain ecosystem. As blockchain technology matures, regulatory scrutiny increases. Security is not a one-time solution, and we believe in offering ongoing security assessments and monitoring to ensure long-term protection as blockchain projects evolve and scale.
SecureDApp’s security solutions ensure projects comply with evolving regulations, fostering trust and promoting broader acceptance. We envision ourselves as one of the most important pillars to protect the digital assets of individuals and future projects and make Web3 more secure.
The cryptocurrency industry is grappling with significant security breaches, including hacks and exploits of various protocols. In 2023, the total amount of funds stolen by hackers during the year is estimated to be approximately $1.7 billion. SecureDApp’s vision and mission are firmly rooted in the ambition to revolutionize blockchain security and set new standards in the industry.
We focus on developing proactive, innovative solutions that strengthen digital assets, identify vulnerabilities and adhere to compliance standards. This effort is aimed at rebuilding trust in blockchain technology and enabling secure and seamless transactions, thereby changing the way blockchain is perceived and used.
Beyond that, SecureDApp plans to be at the forefront of resilient blockchain solutions. Leveraging advanced technology and a relentless commitment to security, the company seeks to provide robust protection for blockchain transactions. This vision aims to initiate a shift towards a blockchain ecosystem that is not only innovative but also intrinsically secure, ensuring users and stakeholders of its reliability and security.
We maintain a dedicated team that closely monitors regulatory developments in key jurisdictions around the world. This allows us to proactively adapt our security solutions to align with emerging compliance requirements.
SecureDApp actively collaborates with government agencies and regulatory bodies. We participate in regulatory discussions and contribute our expertise to help shape effective and future-proof regulations for blockchain technology.
While regulations vary, SecureDApp’s security solutions prioritize core principles like anti-money laundering (AML) and know-your-customer (KYC) compliance. This ensures that our services remain relevant and adaptable to the changing landscape.
We recognize that many countries are still formulating their approach to blockchain. SecureDApp plays a proactive role:
- We offer educational resources and insights to help developers and businesses understand current and potential future regulations.
- SecureDApp believes that strong security and regulatory compliance should not hinder innovation. We help projects find the right balance to thrive within the evolving ecosystem.
We see the potential of South Asian markets for the blockchain industry as immense. It is a growing and experimentation-driven market. It’s because A) South Asia boasts a large and growing tech-savvy population, creating fertile ground for blockchain adoption. B) Blockchain can address inefficiencies in various sectors such as supply chain management, financial inclusion and voting systems, offering solutions to long-standing challenges in the region. C) Several South Asian countries, especially India, are actively exploring the potential of blockchain. Initiatives like India’s sandbox program for blockchain startups demonstrate a supportive stance from the government.
Specific to India, we see strong possibilities for increased adoption.
- Financial Inclusion: Blockchain has the potential to provide secure and transparent financial services to millions of unbanked or under-resourced individuals in India.
- Government Services: Blockchain has the potential to streamline government processes, reduce corruption and improve transparency.
What other services does SecureDApp offer besides blockchain security? What are your plans for future growth and innovation in the Web3 security space?
We at SecureDApp offer a complete suite of security solutions that span the entire blockchain project lifecycle, ensuring robustness from:
- Pre-deployment vetting: We meticulously review smart contracts and code for vulnerabilities before deployment, minimizing risks associated with potential exploits.
- Runtime Security: Our continuous monitoring tools and threat intelligence keep your project protected from evolving threats and suspicious activity throughout its operation.
- Blockchain Forensics: In the unfortunate event of an attack, SecureDApp’s forensic expertise helps identify perpetrators and recover stolen assets.
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