✍️ Multi-signature Technology for Web3 Wallets

Today's Highlights

• Gnosis Safe - a reliable wallet for Web3
• Today's Infographic
• In Other News - a few interesting developments we're tracking.

Gnosis Safe - a reliable wallet for Web3

Gnosis Safe is a smart contract wallet running on Ethereum that requires a minimum number of people to approve a transaction before it can occur. The gnosis team has come up with a solution that will address all the security and verification dilemmas of all organizational funds.  

Amongst the many problems of several organizations and institutions includes tackling the problem of proper management and security of funds. So many blockchain organizations, store their funds in an external wallet, with a single person having the utmost authority to facilitate transactions of the entire organization, and with the increased rate of information security threats, the likes of Software attacks, identity theft, theft of intellectual property, sabotage, and information extortion, there is a need for high security of funds, especially in the blockchain space. This has been a major cause for alarm.

Over the years, blockchain institutions and DAOs have been in disarray for the single problem of finding a secured place to store their funds and governance token. Some projects have been outsourced to hacks while some others are no longer in existence because of this single defect, and then came the gnosis safe. The savior for all digital assets.

Gnosis Safe also allows the use of any wallet to sign transactions. No matter if it’s a mobile wallet, browser extension, or hardware wallet. The Gnosis Safe App is bringing multisig security to Defi. It allows the utilization of digital assets to invest, earn, borrow, invoice, do payroll and more, directly from the Gnosis Safe Interface. Users are able to customize their own interface by selecting from a list of apps and also add extra apps by simply putting the links.  

Christoph Simmchen and Lukos Schor are the co-founders of Safe. Safe has raised a total of $100M in funding.

🧐 Today's Infographic

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