What does the future of Web3 look like to SafePal CEO Veronica Wong?

Presented by SafePal

As the world moves towards a more digital future, the concept of Web3 and its potential to revolutionize the Internet has become a hot topic in the technology industry. In this interview SafePal CEO Veronica Wongshares his views on the future of Web3 and the current state of the crypto market.

She also shares her thoughts on the challenges and opportunities in cryptosecurity and how SafePal is positioning itself to address those challenges.

Q: In 2022, the crypto space experienced significant upheaval and the collapse of several major platforms. What do users need to know when entering 2023 as crypto investors and how can they better protect their digital assets?

While the black swan events undermined general faith in crypto, much of it was due to the opacity and malpractice of centralized platforms rather than an accurate reflection of the industry as a whole.

Cryptocurrency is still in its infancy, so risk management and diversification are always important. Investors should do thorough research before jumping in blind or following the advice of influencers.

Proven and proven platforms may not be as exciting as new projects, but they are often safer, so investors need to weigh the risks and rewards according to their risk appetite.

Q: Will 2023 bring a new wave of Web3 adoption? Are customers turning to self-hosted wallets after the collapse of one of the largest centralized exchanges?

The abuse of centralized platforms has indeed become a catalyst for self-service decision making. This should not be just a temporary surge of interest, but a key incentive to increase the adoption of asset self-government, which is often neglected, but which is a key foundation of cryptography.

While self-protection is liberating, it also means that users must be responsible for protecting their assets from malicious attacks and adhere to best practices including wallet hygiene, security measures, and more.

Developers should improve user experience, UX, and security, but users should also make an effort to read educational resources to improve their understanding and awareness.

Q: What does SafePal do to keep its customers’ assets safe?

The flagship SafePal S1 hardware wallet fully supports offline private keys with with air gap signature mechanism and self-removal mechanism with tamper protection for added security.

We work closely with external security institutions such as CertiK to evaluate products and have a blacklisting mechanism in place to reduce user exposure to malicious third-party DApps – 1,500 apps were removed last year. SafePal is also strict about the screening and selection processes for environmental and campaign partners.

As with a set of crypto wallets, education is equally important in creating secure products for users. Guides are regularly shared through our channels and we actively engage our community in the AMAs.

Q: Despite the cold blows of crypto winter, will 2023 bring a revival of interest in space?

The overall economic outlook is still recovering, but efforts to develop meaningful crypto projects continue. Advances in MPC technology and account abstraction improve usability and security, while solutions such as the EIP4844 enable more affordable gas charges, lowering barriers to implementation and scalability.

We are also starting to see the emergence of “wallet wars” as more companies dive into creating their own versions and cryptocurrency wallets pop up everywhere like mushrooms after rain.

This is a positive trend as it demonstrates industry-wide recognition of the importance of self-storage, driving innovation, and user value, which will eventually revive interest this year.

Q: Even in this harsh climate, SafePal has more than doubled its user base to over 7 million users worldwide. What are the biggest achievements and biggest challenges you face in 2022?

Along with the growth of our user base, we remain at the forefront of cross-chain communication, supporting 55 blockchain networks and their native tokens, and last July we also launched a browser extension that has become a complete set of crypto wallets. .

It was challenging to offer quality hardware, software, and browser extension lines at the same time, but it allowed us to compete with companies like Ledger and MetaMask, as few platforms have the necessary resources and expertise.

We have also remained profitable by expanding our team around the world over the last 3 years.

Question: What are your plans for this year? Are there any ambitious goals you expect to achieve in the coming months?

SafePal is happy to celebrate its 5th anniversary despite the challenges the industry has faced in the past year. We are not going to rest on our laurels and strive to actively expand our user base while continuing to improve the quality and functionality of our products.


Plans to reach this goal include the introduction of social media login and recovery to improve accessibility and security, further open source efforts, and more. We are also looking to add features to help users better manage their NFTs and combat targeted fraud and exploits, which are on the rise.

Blockchain integration and meaningful partnerships with leading platforms will remain part of our core efforts. We will also continue to scale our team internationally to strengthen our community and remove language barriers for our growing global user base.

Learn more about SafePal

Denial of responsibility. Cryptooshala does not endorse any content or product on this page. While we strive to provide you with all the important information we can obtain, readers should do their own research before taking any action related to the company and take full responsibility for their decisions, and this article should not be considered investment advice.

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