Banking Crisis: Is PreSend The Solution to Crypto's Adoption Problem?

The fact that trust in traditional banks has been steadily declining over the past few decades is well-established. Scandals, unethical practices, and lack of transparency are only some of the elements that are eroding consumer trust over the years, with events like Silicon Valley Bank's collapse further highlighting the problems of traditional banking. Now, cryptocurrency and Decentralized Finance (DeFi) are in the spotlight as possible alternatives.

Ever since Bitcoin's white paper was published back in 2008, crypto enthusiasts all over the world have been exploring how it could be used to replace what they see as an outdated system. Despite the increasing popularity of cryptocurrencies after the launch of Bitcoin, it would take about 12 years for DeFi to truly emerge. In 2020, the DeFi boom would take the world by storm, proving to people all over the world that the decentralization of financial services was a real possibility.

The rise of DeFi and crypto is a direct response to the flaws of the traditional financial system. Decentralized finance allows users to transact directly with each other without the need for intermediaries such as banks or other financial institutions. This means that users are not required to trust any given person or organization with their assets, as all rules and operations are completely transparent. Indeed, this comes with its own set of drawbacks, as do most revolutions and industry-disrupting technologies.

Unfortunately for DeFi supporters, cryptocurrency-based platforms have been unable to gain mass adoption despite the ecosystem's growth. While blockchain technology has been adopted by major organizations, developers, and artists, the technology is still considered to be hard to use and comes with risks that many users are not willing to accept. While blockchain provides unparalleled security and transparency when compared to other technologies, it also puts an insurmountable amount of responsibility on the user.

From billions of dollars worth of crypto locked due to lost keys, to customers and organizations sending crypto to the wrong address, all the way to the interoperability flaws associated with having hundreds of different blockchains and coins, the fear of permanently losing money to an accident is understandable. Members of the crypto and DeFi communities are well aware of these challenges, which is why individuals like Drew Wolfer have been working for years to make crypto easier and safer to use.

Out of the ashes of the DeFi market, an American entrepreneur and influencer named Drew Wolfer has risen to pioneer multiple cryptocurrency focused companies, like Wolfer Finance™, and has also been part of the crypto community for the better part of a decade. During this time, he has made a name for himself related to his education and mentoring efforts, ensuring other members of the community have a better understanding of the technology, platforms, and strategies needed to use crypto safely and effectively. Now, he is focusing his efforts on his latest entrepreneurial endeavor: the invention of the PreSend transaction security software solution.

PreSend is a patent-pending software application designed to help users of all levels transact with their crypto more effectively and safely across different blockchains and coins. It achieves this by allowing users to connect their favorite crypto wallets (CoinBase, Metamask, Ledger, Opera, Trust Wallet) to the software, via the downloadable Chrome & Opera Extensions or WebApp. PreSend subsequently runs multiple checks on every transaction initiated in the software, ensuring that users don't lose their hard-earned crypto assets to the "crypto blackhole" via transactions to incompatible wallets, on incorrect blockchains, or with incompatible coins via these particular wallets, exchanges, and blockchains. These common issues are directly related to the lack of standardization in the crypto ecosystem, and PreSend is here to solve them each, one at a time!

"The fact that such a technology did not already exist was astounding to me, and somewhat ridiculous. While many wallets will give users a warning, telling them to be cautious and double-check the details, they don't perform any actual checks that prevent accidents from happening. Rather, these wallets just run simple simulation transactions that have been proven to be ineffective." says Wolfer. "With PreSend, we have developed an actual technology process that we expect to become the norm for every crypto-based platform. We believe that the integration of this technology will remove most of the barriers that prevent mass adoption. No more test transactions, no more second-guessing, & no more accidentally lost crypto!"

PreSend's technology is patent-pending and has been audited by Hacken.io, one of the foremost experts in blockchain security auditing in the world. PreSend passed the Hacken audit with an incredible security score of 9.95/10! While the software is available as of March 31, 2023, Drew and his team are working on building more functionalities and compatibilities into the solution and bringing PreSend even further to the market through a Regulation Crowdfunding offering. As this process is fully compliant with all Securities and Exchange Commission regulations, PreSend is also taking a stand on the regulation debate.

While Wolfer's solution is certain to help accelerate the mass adoption of cryptocurrency, he is only a singular part in a larger movement to change the financial system. Just like Wolfer, with the invention of PreSend, thousands of developers and entrepreneurs are looking for ways to usher crypto and DeFi into the masses. However, whether these technologies prove to be the key for users to take control of their finances and redefine how the financial system works or not, will be up to the users.