New Startup Wants to Secure Smart Contracts, Closes $1.25M in Funding
Sagewise looks to offer a set of tools to fix security holes in smart contracts and resolve disputes stemming from unauthorized executions of such contracts.
August 15, 2018 at 10:30 AM
3 minute read
The promise of smart contracts, which automatically execute their terms on the blockchain without need of intermediaries, has caught the eye of many in the legal tech industry. But before such contracts can go mainstream, they have to fix a glaring problem: security lapses being easily exploited by cybercriminals.
Some investors, however, believe a recent legal tech startup has the answer. Sagewise, which markets itself as a “safety net for smart contracts,” recently closed on a $1.25 million funding round led by Wavemaker Genesis.
The startup was founded by Amy Wan, a securities transactions attorney who has worked in the U.S. Department of Commerce, and Dan Rice, a software engineer and founder of several blockchain and financial technology (fintech) companies.
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