KryptoGO Studio Addresses the Three Major Challenges of Web2 Businesses Upgrading to Web3
TAIPEI, Sept. 1, 2023 /PRNewswire/ — Today, KryptoGO announces the launch of its new AI-powered cloud solution for diverse Web3 enterprise scenarios – KryptoGO Studio (hereinafter referred to as KG Studio). The solution offers a one-stop, secure, and compliant peer-to-peer marketplace application. It addresses the three key challenges faced by global Web2 businesses entering the Web3 domain: identity interoperability, technical security, and user experience, by providing intelligent solutions.
KryptoGO is one of the few industry players that drive innovation with a core focus on regulatory technology. Having gained support from the National Development Fund and launched a cross-chain wallet last year, the company is now upgrading its brand services to accelerate enterprise enablement. With KG Studio, KryptoGO aims to provide the customer journey and user experience required for entry into the Web3 market. The enterprise-level application offers rapid, secure multi-chain wallets, compliance technology, encrypted financial management, innovative NFT marketing tools, user management, and intelligent analytics. All these features aim to empower businesses to succeed in the era of Web3+AI.
Founder and CEO Kordan Ou stated: “Utilizing AI can accelerate the resolution of the pain points Web2 businesses encounter when entering the Web3 realm, serving as a powerful tool. KG Studio is not just a technical solution but also a strategic partner. It helps businesses take the lead in entering the Web3 era, reducing costs and accelerating market entry. The platform offers a user-centric design, robust security and privacy measures, and flexible cryptocurrency fund management, ensuring businesses maintain a competitive edge in the rapidly evolving Web3 world.”
AI-Enabled Solutions for Overcoming the Challenges of Transitioning from Web2 to Web3
During the launch event, KryptoGO identified three significant challenges that have deterred Web2 businesses from entering the Web3 domain: First, the issue of identity and data interoperability between Web3 on-chain and Web2 off-chain, a problem KryptoGO has been addressing through its KYC/AML compliant technology. Second, the high technical barriers around cryptocurrency management for Web2 businesses interested in transitioning to Web3. Third, the necessity for a better user experience in Web3 compared to Web2, which sets higher challenges for brand owners facing user retention and acquisition. These challenges have held back some Web2 businesses from entering the Web3 metaverse.
Kordan Ou believes that AI and the applications based on large language models (AIGC) are accelerating the digital transformation of all enterprises. The fusion of AI and blockchain grants new generational capabilities to various applications, leveraging unprecedented productivity growth brought by AI while combining the security and transparency provided by blockchain. This synthesis can offer stronger efficiency, trust, and management across different industries, from traditional financial investment and cross-border payment CeFi and DeFi applications to various GameFi scenarios based on game ecosystems, IP, P2E, social, NFT, etc.
According to data from Emergen Research, the global Web 3.0 market reached $3.2 billion in 2021 and is expected to grow rapidly, possibly reaching $81.5 billion by 2030. The rapid growth is mainly due to advancements in AI and blockchain technologies, increased usage of cryptocurrencies, and a demand for more secure transaction methods across various industries. By 2030, the market combining blockchain and AI could reach $9.807 billion. Companies pioneering new business models using these two technologies have the opportunity for rapid growth.
Primarily in technological transformation, AI accelerates learning and adaptation to new blockchain technologies, aiding developers in quickly mastering the required knowledge. In the security domain, AI can identify abnormal transaction patterns and potential security risks, enhancing the security of blockchain systems. In compliance, AI can automatically verify identities and data, reducing human errors and non-compliance, particularly important under blockchain industry regulations. Additionally, AI can analyze large volumes of data, provide insights, and assist operators in adjusting business models to align better with market demands.
KG Studio’s Five Key Features Addressing Three Major Challenges in Enterprise Transformation and Upgradation
KryptoGO is taking the lead in launching this one-stop service against such trends. KG Studio has formulated five major modules for front-end, middle-end, and back-end enterprise scenarios. The application of AI runs through each service, resolving the longstanding three major challenges and pain points. These modules and features include:
- User 360: Focused on user understanding and analysis, offering customizable analytics charts for enterprises to conduct deep data analysis and insights. Advanced analytics features help enterprises better comprehend user behavior and market trends, enabling precise market and user demand positioning.
- AssetPro: Tackling the complexity of asset management and operations, AssetPro simplifies on-chain fee (e.g., Gas Fee) management and provides financial scheduling for NFT and token airdrops. This enables businesses to operate assets in the Web3 world more flexibly and conveniently.
- Compliance: Resolves concerns around compliance and security by integrating KYC verification and providing identity and personal data management, especially for KYC requirements in On-ramp and Off-ramp financial flows. This ensures transactional compliance and security.
- NFT Boost: By offering NFT collection management and multi-chain support, businesses can easily create, manage, and sell their own NFT projects, breaking down barriers in establishing and promoting the NFT market.
- Wallet: Addresses the complexity and inconvenience of multi-chain wallets by offering a one-stop multi-chain wallet solution. Features include community marketplaces for NFT trading, enriched user experiences through social chat interaction, and enterprise-level wallet management mechanisms.
Bundled Solutions for GameFi and DeFi
KryptoGO introduces bundled solutions for both GameFi and DeFi industries. The KG Studio Lite offers a lightweight, modular design for rapid deployment, aiding businesses in quickly setting up branded wallets, NFT activities, customer management, and providing visual data reporting. KG Studio Pro offers a comprehensive one-stop solution from customer journey to internal operations, including custom solutions based on diverse client needs.
Brand Upgrade and Comprehensive Empowerment
KryptoGO’s Founder and CEO stated: “KryptoGO has gained deep insights into the challenges faced in entering the Web3 space from long-term mutual growth with Taiwan and global users. Supported by national development and venture funds, we actively collaborate with industry partners, associations, governments, and regulatory bodies to drive innovation in compliance technology and AI research. Through KG Studio, we have achieved on-chain and off-chain integration, aligning with our vision for a decentralized omnichannel. In 2023, our collaboration with YGG Japan led to the launch of a GameFi asset management system, not only enhancing user control and asset security but also facilitating the rapid entry of new users into Web3.”
After its brand upgrade, KryptoGO focuses on three core businesses: First, continuing to offer KYC/AML compliant tech services for the financial and banking sectors to improve efficiency and ensure compliance; second, providing a one-stop solution for businesses transitioning from Web2 to Web3, helping them overcome market entry and technical barriers while offering the best Web3 experience to their brand users; and lastly, offering wallet services to end Web3 users to solve issues related to security and interconnectivity. KryptoGO has also comprehensively integrated AI technology into its workflow and products to efficiently assist clients in resolving issues encountered during their growth stages.
KryptoGO is a leading brand advocating for the construction of a secure, transparent, and trustworthy Web3 world. Founded in 2019, KryptoGO utilizes blockchain technology, artificial intelligence, and regulatory technology to create a secure, reliable, and fully transparent decentralized virtual asset management platform for Web3 individuals and businesses. It serves as a robust bridge connecting on-chain assets with offline applications. The core engineering team has an average of over 10 years of development experience and hails from globally renowned internet companies and champions of Olympiad-level programming contests. They bring rich experience in open-source project development (with Github projects totaling over 25,000 stars), over 6 years of blockchain development experience, and hold more than 10 patents in artificial intelligence and blockchain. KryptoGO has not only achieved ISO 27001 and 27701 international certifications but also has attracted significant investment from capital sources like the National Development Fund, pushing its valuation over a hundred million. Current clients include banks, venture capital firms, and numerous virtual asset service providers. Its strategic partners are located both domestically and internationally, including the largest Web3 gaming guild YGG’s Japanese gaming guild, YGGJ.
Official Website: https://kryptogo.com
Friend.Tech and Base Anti-Phishing Boosted By CoolWallet’s Web3 SmartScan
TAIPEI, Oct. 2, 2023 /PRNewswire/ — Base’s new killer DApp, the decentralized social network Friend.tech, is breaking transaction records with record adoption, but is being targeted by hackers and scammers through phishing attacks.To raise awareness of the importance of hardware wallet protection and promote its powerful Web3 SmartScan transaction screener, CoolWallet has launched a Web3 Guardian competition.
Coinbase’s new Ethereum layer-2 chain, Base, has become a favorite for DApp developers and early investors due to its outstanding performance and the innovative projects it attracts. One DApp in particular, the decentralized social media platform Friend.tech, has driven the bulk of its growth in recent weeks. helping Base repeatedly reach new transaction volume highs despite difficult market conditions.
Friend.tech’s rapid rise has garnered widespread attention- according to the latest data, the daily active user (DAU) count of friend.tech have surpassed the million mark, with its transaction volume consistently hitting new records and its total value locked (TVL) now surpassing $35 million.
However, with any crypto trends comes new security risks, in this case a familiar foe, phishing attacks. This type of social engineering attacks dominate crypto thefts, which by June 2023 had already hit the $650 million mark across the Web3 sector. This month alone has already seen successful attacks targeting high-profile victims Mark Cuban and Vitalik Buterin and stealing millions in the process.
As a result, Base and Friend.tech users are urged to use a reputable hardware wallet to secure their tech digital assets by protecting their private keys and screening transactions.
In response, hardware wallet maker CoolWallet, which natively supports the Base ecosystem, has launched an anti-phishing campaign titled Web3 Guardian Competition to create awareness and promote its unique defense capabilities such as CoolWallet SmartScan, which proactively screens all Web3 transactions and flags malicious behavior or smart contract vulnerabilities before users are exploited.
How Friend.tech works
Friend.tech has garnered a cult following among crypto enthusiasts as one of the first decentralized social networks to be built on the Base blockchain. It’s powered by blockchain and smart contracts, where users must buy “shares” of another person in order to chat with them. Its tagline is “Your network is your net worth”.
To use Friend.tech, users must first sign up with their Twitter (X) account, create a profile and then start trading shares of other users who have also signed up. A user’s share price is determined by factors like their popularity, reputation, and overall demand.
Buying shares of another user gives you access to them, allowing you to message them directly and chat. The more shares you buy, the higher a priority your messages will be.
Friend.tech recommends hardware wallet protection
With crypto phishing attacks claiming even high-profile victims such as Vitalik Buterin and Mark Cuban as victims in recent weeks, it’s no surprise that Friend.tech also places great emphasis on asset security.
It therefore recommends that users utilize a hardware wallet for enhanced protection against threats like phishing sites. Storing assets offline makes them less accessible to online hackers, thus offering greater security.
CoolWallet’s SmartScan Flags Web3 Phishing Threats
CoolWallet (established in 2014) has since the launch of its CoolWallet Pro flagship model in 2021 pivoted strongly to securing Web3 assets, which requires users to interact with DeFi protocols that could potentially drain their accounts if they authorize the wrong transaction.
CoolWallet Pro in particular makes for an ideal Friend.tech hardware wallet as it’s one of the first cold wallets to support the Base network, and boasts several elite security features, such as:
- an EAL6+ secure element
- biometric verification (both on phone and device)
- tamper proof and waterproof design
Importantly, its CoolWallet App comes with real-time Web3 transaction analysis scanning called Web3 SmartScan.
While cold storage is as safe as can be, the biggest vulnerability remains human error or a lapse in judgment, where the user is tricked into authorizing a bad transaction or revealing their recovery seed or private key to a bad actor.
CoolWallet’s SmartScan, available on its CoolWallet App, provides Web3-native protection against phishing attempts. It automatically screens transactions and flags attempted phishing, suspicious transactions and smart contract vulnerabilities. This makes using cold storage even safer to use, and elevates CoolWallet above other hardware wallet brands.
Web3 Guardian Competition- Secure Your Crypto for the Next Bull Run!
To promote Web3 asset protection among blockchain users and help them safeguard their crypto portfolio with SmartScan until the next bull run, CoolWallet is launching a global new competition aimed at enhancing user security awareness with generous rewards to participating users.
Base is a secure, low-cost, builder-friendly Ethereum L2 built to bring the next billion users on chain.
Friend.tech is an emerging DApp focused on social interactions and cryptographic asset management. It provides users with a secure and efficient blockchain platform. The platform currently operates on the Base chain and is continuously expanding its features and user base.
CoolWallet is a pioneering Web3 hardware wallet brand established in 2014 by CoolBitX that offers users the comfort of convenient and fully portable cold storage of all digital assets, including DeFi and NFT crypto assets.
CoolWallet Pro is a flagship Web3 hardware wallet that boasts a wafer-thin smart card form factor, an EAL6+ secure element, military-grade Bluetooth encryption, and a tamper proof and water-resistant exterior, while its custom CoolWallet App offers users a choice of DeFi marketplaces, DApp support and real-time transaction screening.
CONTACT: Domo Zhuang, [email protected]
Webb Unveils Tangle Network Testnet, Pioneering the Future of Private, Decentralized Applications
NEW YORK, Sept. 29, 2023 /PRNewswire/ — Today, Webb announced the launch of its much-anticipated Tangle Network Testnet, setting the stage for a new era of private and decentralized applications.
Led by founder Drew Stone, Webb is the premier cross-chain zero-knowledge messaging layer, committed to revolutionizing blockchain privacy. Backed by industry giants like Polychain, Lemniscap, and Commonwealth Labs, Webb introduces a suite of tools aimed at advancing zero-knowledge (ZK) and multi-party computation (MPC) applications across multiple blockchains.
The Challenge and Our Solution
Blockchain networks today face significant hurdles: limited interoperability, scaling difficulties, centralized control, and privacy concerns. Webb’s Tangle Network, built on the powerful Substrate framework, is designed to tackle these challenges by offering a next-generation blockchain platform.
Why Tangle Network?
Our vision is to make it easier for developers to create secure, private zero-knowledge (ZK) and multi-party computation (MPC)-based decentralized applications. Tangle Network simplifies:
- Proof Generation: Delegate computational tasks to our validators.
- Trusted Setups: Tangle Network manages complex ceremonies for you.
- Secure Signing: Utilize our threshold signing for cross-chain operations.
By removing these barriers, we massively improve the time to launch for ZK and MPC-based decentralized applications.
- Unparalleled speed, security, and scalability via Substrate.
- Decentralized control through Distributed Key Generation (DKG).
- Advanced protocols for zero-knowledge applications.
- Cross-chain compatibility with IBC and XCM.
- Easy migration of existing apps through Ethereum Virtual Machine (EVM) support.
- Smooth, forkless upgrades.
The Testnet launch kicks off with an in-depth whitepaper, followed by a series of engagement events during the testnet phase. Our mainnet is scheduled for a Q1/Q2 2024 launch, featuring hackathons, workshops, and a targeted grant program to accelerate the adoption of privacy-focused applications.
Testnet Quick Links
- Developers: Start building on Tangle today. Learn More
- Validators and Relayers: Help secure and maintain the network. Learn More
- Join the Community: Follow us on Twitter or join our Discord.
For media inquiries, partnerships, or more information, email us at [email protected]
ChainUp Celebrates 6th Anniversary, Charting Blockchain Innovations beyond Digital Assets
SINGAPORE, Sept. 29, 2023 /PRNewswire/ — ChainUp, a Singapore-based trailblazer and global leader in the blockchain industry, marked its sixth anniversary celebration with more than 500 business partners at Ce La Vi Singapore. During the celebration, ChainUp Founder and CEO, Sailor Zhong reflected on the journey, “Six years in the blockchain industry showcases our resilience, innovation, and forward-looking approach. As we look to the future, we are committed to shaping a digital asset environment that is reliable, transparent, and unparalleled. ChainUp aims to champion blockchain solutions beyond the applications of digital assets and bridge the gap between digital asset markets and traditional finance (TradFi) to increase effectiveness and market efficiency.”
The DEX Renaissance
As decentralized finance (DeFi) comes into prominence and focused on returning control to users, one of the sectors impacted by DeFi are the exchanges where cryptocurrencies are traded. Data from CoinMarketCap reveals that trading volumes on Decentralized exchanges (DEX) reached $1.2 trillion in 2022, indicating a 340% YoY growth. However, factors such as poor user experience impeded the rate of adoption of DEX. Recognizing this trend, ChainUp has updated its white-labeled DEX solution, incorporating advanced features, strengthening its security, improving its liquidity and aims to provide a decentralized trading experience that is on par with commonly-used centralized exchanges (CEX).
Bridging TradFi and Digital Assets Market
The traditional financial sector has been progressing very cautiously on digital assets. As more institutions lean into RWA tokenization, they unlock unparalleled liquidity in a borderless trading environment. Amidst this evolution, ChainUp’s RWA solutions emerge as an industry pioneer, offering robust tokenization protocols, seamless integration, and enhanced security, bridging the gap between TradFi and the digital future with unmatched finesse.
Minimizing Risk and Maximizing Security
ChainUp’s MPC Wallet revolutionizes crypto security by integrating MPC technology with advanced hardware isolation, ensuring utmost safety and encryption on data. The wallet offers dynamic key-refreshing mechanisms, chain-agnostic compatibility, and eliminates single-point vulnerabilities. With efficient multi-address management and 24/7 expert support, users enjoy full asset control, scalability, and cost-efficiency, all under one roof.
Compliance: The Guiding Principle
Navigating global regulations in the blockchain sector can be complex. ChainUp’s KYT subsidiary, Trustformer, offers peace of mind for enterprises tackling compliance-related challenges. ChainUp’s advanced solutions in Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) show their commitment to a more secure blockchain environment.
For detailed insights into ChainUp’s innovative solutions, please visit: https://www.chainup.com?channel=pr&type=article
Headquartered in Singapore, ChainUp is a global leading end-to-end blockchain technology solutions provider covering infrastructure development and ecosystem support. Built on the mission to empower businesses through blockchain technology, ChainUp’s innovative and all-around compliant solutions include digital asset exchange, KYT, NFT trading, wallet, liquidity, Web3.0 infrastructure, digital asset custody, security token offerings and more. Established in 2017, ChainUp has offices around the world, serving more than 1,000 clients in 30 countries, reaching over 60 million end-users.
CONTACT: Jacelynn Pang, [email protected]
- Friend.Tech and Base Anti-Phishing Boosted By CoolWallet’s Web3 SmartScan
- Webb Unveils Tangle Network Testnet, Pioneering the Future of Private, Decentralized Applications
- ChainUp Celebrates 6th Anniversary, Charting Blockchain Innovations beyond Digital Assets
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