dWallet Labs, a cybersecurity company specializing in blockchain technology, raises $5 Million in pre-seed round funding led by Node Capital and Digital Currency Group (DCG).

Other Leading Investors

Other investors are Amplify Partners, Lightshift Capital, Liquid2 Ventures, Collider Ventures, Lemnsicap, Heroic Ventures, Impatient Ventures, Zero Knowledge, Dispersion Capital, Token Bay Capital, Tykhe Block Ventures, Cerulean Ventures and Earl Grey Capital alongside founders and angel investors from Coinbase,  Ethereum,  Celo,  AngelList,  Alt, Spearhead, and others.

With top cybersecurity experts and cryptographers, dWallet Labs is building solutions on top of the Odsy Network, a secure and programmable decentralized access control layer to all of web3. The funds will be used for building protocols and projects on top of the Odsy Network.

dWallets

Dynamic Decentralized Wallets are the trustless access control solution for web3. dWallets are a new blockchain primitive that other projects can build upon and offer programmable access for any other blockchain. A dWallet on the Odsy Network is bound to Wallet Contracts, dedicated smart contracts that manage the access control and privileges for that dWallet.

The dWallet concept will transform how digital assets are stored, used, accessed, and connected to the real world by adding a fully decentralized layer of a dynamic and stateful access control. This will open the door to new possibilities including multi-chain DAOs, granular access sharing, and interoperable infrastructure for DeFi. dWallets will also allow for a full transfer of their ownership, which was impossible before.

“It is rare to witness a totally new decentralized infrastructure allowing many new use cases that were not possible before with the utilization of the dWallet concept,” said Amos Meiri, Founding Partner at Node Capital.

“We’re always looking for novel primitives that will unlock new use cases for blockchain technology. Soon after meeting the dWallet Labs team. We recognized the potential for their dWallet ecosystem to change access control for the better. In turn, dWallets may offer new ownership and transfer capabilities for a more expansive set of complex cryptoassets. We’re excited to support the team and help bring their vision to fruition,” stated Matt Beck, Director of Investments at Digital Currency Group.

Odsy Network

The dedicated blockchain that supports dWallets is the Odsy Network. The standard blockchain actions, can be able to use using dWallets. Establishing them as a single, multi-chain access point to all of web3.

The Odsy Network Founder

• Omer Sadika
• David Lachmish,
• Sean Lee
• Yehonatan Cohen Scaly
• Zug Switzerland-based Odsy Foundation.

They will support and develop the wider Odsy ecosystem and provide professional services to the Odsy Foundation, and Odsy Network.

About ODSY Network & Dwallets

The Odsy Network provides a secure, programmable, decentralized access layer to all of web3 through dynamic, decentralized wallets.

About dWallet Labs

dWallet Labs is a cybersecurity company specializing in blockchain technology. Their mission is to build protocols and solutions on top of the Odsy Network.

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SOURCE

https://www.globenewswire.com/news-release/2022/08/18/2500769/0/en/dWallet-Labs-Raises-5M-in-Pre-Seed-Round-As-Odsy-Network-Comes-Out-of-Stealth.html

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