DigitalCFO Newsroom | 4 April 2022
Wallet Guardian utilises AI and Blockchain to audit permissions and disclosures within users’ wallets, as well as guarding against active threats and mitigating bridging risks
GBC.AI, provider of cutting-edge proprietary Artificial Intelligence (AI) Smart-Blockchain technology, has today announced its new Web3 security product, Wallet Guardian. Designed to protect digital asset users against the growing number of threats to their wallets, Wallet Guardian combines cutting-edge AI and blockchain technology to offer three tools: “X-ray”, “Real-Time Protection Protection” and “Bridge Guardian”, which can be rapidly deployed on top of wallet and browser environments to offer unrivaled visibility, protection and control.
The first tool launched within Wallet Guardian is “X-ray”. Before any smart contract interactions are approved by a user within their wallet, Wallet Guardian’s X-ray feature will display a list of all the permissions and disclosures being requested by the new smart contract transaction. The tool will also allow users to browse and review all the outstanding permissions that their wallet has granted to other smart contracts. This also allows them to opt-out of any of these old permissions and mitigate potential risks – which will ultimately provide users with greater oversight and control over their various smart contracts.
Under the soon-to-be-launched “Real-Time Protection” tool, Wallet Guardian will also ensure users are notified, of the risks or concerns detected in their Web3 environment which could pose a threat to their wallet. The testing and disclosure details will then become richer over time as the product evolves and the through regular security updates.
Finally, GBC.AI will be launching the third tool under Wallet Guardian – “Bridge Guardian”. Bridges – where a user transfers their assets from one network to the other – represent the most prevalent point of failure and create a specific set of risks for users. Bridge is GBC.AI’s proprietary security solution designed to manage and mitigate these kinds of risks. Here the power of AI is applied to public historical data on bridge transfers, and then combined with proprietary simulation data testing bridging infrastructure performance under different conditions. Results from this analysis allows Bridge to intelligently monitor active network conditions on both sides of the bridge. If spurious or risky activities are detected, Bridge will notify the user.
Wallet Guardian’s technology is based on enterprise-grade innovations by GBC.AI. This new consumer-centric product is part of GBC.AI’s mission to be a leader in AI-empowered blockchain technology. Interested consumers can visit https://gbc.ai/ or join their Community Channel Telegram to find out more.
“To date, audit and monitoring services for Web3 environments have been the preserve of those willing (and able) to pay high fees,” commented Pavel Entin, CEO at GBC.AI “This runs counter to the individual-empowerment and inclusivity ideals that drive a lot of blockchain innovation as users are still missing the tools that help them to do their own research and protect their wallets. There is growing transparency and awareness about how our data is collected and used when we visit Web2 sites. Ironically, this is one area where Web3 environments have started to fall behind.”
“Protection and active intelligence in the form of Wallet Guardian, will help put all this right and bring the power of AI to bear on the task. We want to use this tool to bring power back into the hands of users to take charge of the permissions they have granted, to identify risks before they cause issues and to be able to understand what information they have revealed, ultimately ensuring they do not compromise their wallets. We’re excited to launch this Wallet Guardian to add to our suite of products designed to harness the power of AI and the blockchain,” added Entin.