How Webacy and ChainPatrol are Improving Web3 Security

In an effort to overcome the most pressing challenges in the Web3 security space, ChainPatrol has teamed up with the Webacy Network to broaden coverage across the industry through Webacy’s APIs. 

Webacy believes that creating reliable, powerful solutions to the changing landscape of crypto security will require multiple partners to collaborate and share responsibility. By joining forces with them, we have an opportunity to improve security on blockchain together.

We caught up with the CEO of Webacy, Maika Isogawa, to learn what led her to create Webacy, how Webacy is helping build a secure Web3 ecosystem, and what she envisions for the future of Web3.

Maika Isogawa

Erin Hynes: To begin, what led you to your passion for building a safer Web3 for everyone?

Maika Isogawa: I’ve been in the crypto space since 2014. As someone with international roots and having felt the pain of jumping through institutional hoop after hoop, the revolutionary vision that blockchain promised was a future that I wanted to live in and contribute to. 

It was when I was hacked (twice) that I realized that for that future to exist, there needed to be better safety infrastructure prevalent in the industry. I didn’t see anyone building it, so I decided to start building it myself.

Erin Hynes: Protecting digital assets is a broad and complicated challenge. What are the most pressing challenges, why are they complex, and how is Webacy helping to support tackling these challenges? 

Maika Isogawa: This is a big question, and you’re right, this is a very complicated challenge! “Digital assets,” is a broad term, so we’ll focus on specifically crypto for this answer. There are largely two main pressing challenges in my mind. 

First, decentralization and permissionless systems are at the core of blockchain values. Some potential solutions for “safety and security” might involve rules like who can access what, and to what level. If you go down this path, who creates the rules? Who governs them? Who will decide what is “safe” and “unsafe?” Various jurisdictions are drafting their own regulations around cryptocurrencies. How do we create safe and secure infrastructure that is both free and fair?

Second, safety and security has to be considered at every layer in the blockchain stack. From validators, to dApps, to the Web2 infrastructure it’s being built on, the threat landscape is only growing, and at a rapid speed. Each layer presents unique challenges, making it tough to coordinate robust infrastructure and security across the entire ecosystem.

At Webacy, we believe that better safety and security in blockchain will be a collaborative effort. Webacy enables a safer Web3 world through a consumer-direct Safety Suite and embeddable APIs. The way we design our technology has the free and decentralized blockchain premise at its core.

Erin Hynes: Webacy is creating reliable and powerful solutions to cater to the evolving security landscape in crypto. How are partners involved, and why are they so integral to these solutions? 

Maika Isogawa: The Webacy risk engine combines multiple data sources along with our own proprietary data and algorithms to power both our consumer suite and our APIs for other companies to leverage. We’re working hard to enable the ecosystem to protect their platforms and end users, and are working together with other companies to make it easier and faster to do so. 

There are many companies dedicated to making the blockchain safer, just like us. Each team has their own specializations and industry verticals that they excel in. Rather than competing with each other for customers, we see a future where each use case is served by the best data for it, which will enhance the overall safety of the network long-term. 

The alternative would be a world mirroring the Web2 cybersecurity landscape, and we’ve just recently seen the dangers of what happens when you rely too heavily on a single point of failure. 

Erin Hynes: Security in the Web3 space is a major barrier of entry – People are fearful of crypto hacks, scams, and other vulnerabilities. How can companies like Webacy and ChainPatrol help to shift perceptions about safety in Web3? 

Maika Isogawa: By now we’ve probably all met someone who gave crypto a try, got wrecked, then never came back. That’s truly unfortunate, and will continue to be an experience many users have with crypto until the industry standards for safety and security get more serious. 

At Webacy, we believe a safe user is a valuable user, and want to help other platforms keep their companies and their end users safe from the beginning.

Erin Hynes: We (ChainPatrol) have joined the Webacy Network to broaden our coverage across the industry through our APIs. How will our partnership pass on benefits to communities in Web3?

Maika Isogawa: We’re so excited to partner with ChainPatrol. Your data feeds bring some of the network’s fastest updates for scams, vulnerabilities, and hacks to the forefront, which can immediately be implemented into our APIs that spread across the ecosystem. 

That means Webacy API partners have the most up-to-date data, that is dynamically updated when hacks do inevitably occur in the ecosystem, protecting their platform and users.

Erin Hynes: When you imagine a safer, more secure Web3, what do you see? Share your vision of the future for the ecosystem. 

Maika Isogawa: I imagine a future where we are free to explore, trade, and create, without fear of getting drained or hacked. Safety for safety’s sake isn’t the end goal. It’s about what it enables. In order to be truly free, our systems must be safe and secure. That’s the future I want to live in. 

Read our ChainPatrol's Wallet Developer Integration Guide and how to Get Started With Webacy's APIs.