The crypto ecosystem is fragmented. There are about half a dozen popular blockchains in use today, primarily Bitcoin and Ethereum. There are also hundreds of post-ICO projects working on “blockchain for x”, as well as ICOs currently in progress.

I have only one question. Where are the users?

Challenges

Blockchain opponents like to argue that Bitcoin and the blockchain are products without a market need. We have banks, we have Visa, so why do we need Bitcoin?

The truth is that there isn’t much to do with crypto yet. The first true use-case, ICOs, ignited a 7 billion dollar frenzy in late 2017 and is showing even greater promise in 2018.

But there are many more crypto use-cases just waiting to be discovered if we only make it more accessible to users, entrepreneurs, and artists.

Abstracting Crypto

Ethereum is the first true crypto sandbox. It allows technical people to create smart contracts and operate in a decentralized way.

The primary downside to using Ethereum (or similar) is the massive technical difficulty involved in creating any kind of real-world use-case. You need to:

Know Solidity and smart contract development well . Otherwise, you risk getting hacked

. Otherwise, you risk getting hacked On top of smart contract flaws, you need to be a security expert to properly manage wallets and private keys

to properly manage wallets and private keys Integrate Web 3.0 into your application or website

Enter Safebit

Safebit proposes to solve this problem by creating an abstraction layer that can serve as a user-friendly “sandbox” for the world of the blockchain, putting all of the amazing features (multi-sig, smart contracts) at the fingertips of the people who are in the best position to leverage these tools and create new things.

Here’s how we do it:

Safebit Blueprint: Safebit’s infrastructure connects to any blockchain via a “driver”. We do this much like traditional operating systems connect various pieces of computer hardware to the main communications bus. This abstraction enables developers to interact with most blockchains in the same way, and without having to deal with the nitty and gritty of blockchain development

Smart Contract Composer: Safebit features a community-vetted smart contract library. The Smart Composer enables all levels of users to leverage advanced crypto tools by simplifying the creation and deployment of smart contracts templates, mixing and matching smart contract building blocks on any supported blockchain

Safebit features a community-vetted smart contract library. The enables all levels of users to leverage advanced crypto tools by simplifying the creation and deployment of smart contracts templates, mixing and matching smart contract building blocks on any supported blockchain Collaboration Network — Lastly, users need a simple interface to empower them to interact with each other. Crypto users don’t exist in a vacuum. Financial transactions are still social interactions, and smart contracts were invented to facilitate agreements between entities that are human or represent human interests. Thus, the missing link between users and crypto is the right interface, and we like to call it a “collaboration network”: A mix of financial and social tools that enable the smoothest interaction possible between the participants of the crypto community.

Crypto needs platforms to attract users. Safebit is just that.

Safebit is currently in development, follow us on Telegram for news and updates!