From the individual investor perspective, Arone said the service is able to evaluate smart contracts on DAOs and NFT projects in order to scan for anomalies.
Larger exchanges and wallets
Arone said he's also talked to “larger exchanges and wallets, integrated with exchanges” interested in his products. He believes banks will need to find partners that can bolster security with advanced technologies. “Everyone can tell them till they are blue in the face, 'You guys definitely need to have a fund that focuses on Ethereum and ERC-20 tokens,’ but how do they know that the assets and addresses they are interacting with are not originating from high-risk, non-compliant, or government sanctioned wallets?”
Arone, a co-founder and CEO of the new firm, previously worked as a limited partner at the small web3 investment firm Arrington XRP Capital. He was also once an innovation executive at Experian. © 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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