How does the Waas platform simplify the enterprise's wallet management process?

Waas streamlines crypto asset management with enhanced security through MPC, EVM, and GIA, simplified asset consolidation, automated transaction approvals, hierarchical permissions, and real-time visibility and reporting.

Feb 21, 2025 at 10:48 am

Key Points:

• Enhanced Security Measures: Waas safeguards crypto assets with MPC, EVM, and GIA.
• Simplified Asset Management: Consolidate and manage multiple wallets with ease.
• Automated Transaction Approval: Streamline approvals and reduce human error.
• Hierarchical Permissions: Establish role-based access controls for secure access.
• Real-Time Visibility and Reporting: Gain complete oversight of wallet activities.

How Waas Simplifies Enterprise Wallet Management

1. Enhanced Security Measures:

Waas implements multi-party computation (MPC), Ethereum Virtual Machine (EVM), and geste-integrated authentication (GIA) to provide robust security. MPC distributes private keys among multiple nodes, preventing single points of failure. EVM executes transactions in a secure, isolated environment, while GIA adds an extra layer of protection through biometric authentication.

2. Simplified Asset Management:

With Waas, enterprises can consolidate multiple wallets into a single platform. This simplifies the process of managing crypto assets, providing a comprehensive view of all holdings. The platform accommodates various wallet types, including hot wallets, cold wallets, and custody solutions, allowing for tailored integrations.

3. Automated Transaction Approval:

Waas automates transaction approval processes, eliminating human error and delays. It establishes approval workflows and assigns roles and permissions to specific individuals. This ensures that only authorized parties can initiate and approve transactions, reducing the risk of unauthorized activity.

4. Hierarchical Permissions:

Waas implements hierarchical permissions to control access to wallet functions. Administrators can create custom roles with specific permissions, such as view-only, approval, or full management access. This fine-grained control ensures that employees only have the level of access necessary to perform their duties.

5. Real-Time Visibility and Reporting:

Waas provides real-time visibility into wallet activities and balances. Comprehensive reports offer detailed insights into transactions, approvals, and account statements. This transparency empowers enterprises to monitor their crypto operations closely and identify any anomalies or potential risks promptly.

FAQs:

Q: What is the difference between MPC and EVM in Waas?
A: MPC (Multi-party Computation) distributes private keys among multiple nodes, enhancing security. EVM (Ethereum Virtual Machine) executes transactions in a secure, isolated environment.

Q: How does Waas ensure that only authorized parties can approve transactions?
A: Waas automates transaction approval through approval workflows and assigns roles and permissions to specific individuals. Only authorized parties with the appropriate permissions can approve transactions.

Q: Can Waas integrate with existing wallet solutions?
A: Yes, Waas can integrate with various wallet types, including hot wallets, cold wallets, and custody solutions. This enables enterprises to consolidate and manage their crypto assets on a single platform.

Q: What types of reports does Waas provide?
A: Waas offers comprehensive reports that provide insights into transactions, approvals, account statements, and overall wallet activities.

Q: How does Waas simplify the reconciliation process for crypto assets?
A: Waas automates transaction approvals and offers real-time visibility into wallet activities. This simplifies the reconciliation process as all transactions are recorded, approved, and reported in a consolidated platform.