A New Paradigm for Digital Ownership with Safe Smart Accounts

Safe's Smart Accounts: A noteworthy innovation in the digital asset space. Lukas Schor, CEO & Co-founder of Safe, and Emma Cui, Founding partner & CEO of Longhash Ventures, discussed digital asset ownership and the growth of Safe's Smart Accounts at REDeFiNE TOMORROW 2024.

Introducing Safe, the Driving Force Behind "Smart Accounts"

• Safe is a platform developed to address the complexities of traditional digital asset management. By utilizing Smart Contract technology, Safe creates Smart Accounts, empowering users with enhanced security and flexibility in managing their digital assets.
  
  
• The Safe project emerged from Gnosis two years ago, with Lukas Schor leading the coordination and planning.
  
  
• Safe's Smart Accounts solve the problem of private key loss in traditional asset management systems. Through Smart Contracts, additional functionalities such as multi-signature authorization (Multisig) and data recovery systems are made possible.
  
  
• Safe's original focus was on treasury management for teams and DAOs, measuring success by the total assets held in Safe Smart Accounts, which recently reached $100 billion.
  
  
• Currently, Safe is now shifting focus to making the technology accessible to more users. They track the number of smart accounts deployed and transactions.Over 10 million accounts have been created so far, with “Worldcoin” being one of the biggest users of Safe, boasting over 6 million users.

Growth and Development of Safe

•  The bear market in 2022-2023 highlighted the need for self-custody solutions like Safe. The collapse of FTX also led to billions of dollars in assets moving into Safe accounts.
  
  
• Safe aims to bridge the gap between centralized platforms and pure self-custody, offering the best of both worlds in terms of user experience and security.
  
  
• The introduction of the ERC-4337 Smart Account module adds new features like reduced fees and account recovery, enhancing the Safe user experience.
  
  
• Despite slightly higher gas fees, Safe has a higher retention rate than other solutions due to its adoption by stable projects seeking long-term solutions.

The Future and Role of Safe

• Growth of AI:

• Safe sees potential in collaborating with AI to enhance asset management efficiency, particularly as AI agents are expected to interact more with digital assets on the blockchain. Smart account platforms like Safe can set controls and limitations for AI agents.
  
  
• Schor believes that in the future, over 90% of network transactions will originate from AI, with AI agents playing roles in prediction markets, governance, transaction security and automated asset management.
  
  
• Expansion into Institutions: Safe is expanding its customer base to financial institutions, offering solutions that combine Safe's security with institutional credibility.
  
  
• Community Building: Safe is fostering a strong user community to collaborate on development and drive project growth. Safe also launched its own token, distributing 50% to the community on the first day, marking a significant milestone for the project.

"Safe" is a platform with continuous growth and development potential, playing a crucial role in the innovation of digital asset ownership and the future Web3 ecosystem.