Meet The Entrepreneur Making Cryptocurrency Safer
Drew Wolfer recently launched Wolfer Finance, a US-based “master and validator node blockchain hosting company.”
Presented by Grit Daily
Over the past year, the world of cryptocurrency has been in the spotlight time after time for all the wrong reasons. From multimillion dollar hacks to the fall of one of the biggest cryptocurrency exchanges, the cryptocurrency space finished the year on a bad note. So far, 2023 seems to have continued the trend as celebrity YouTuber Logan Paul has been accused of running a crypto scam.
Crypto seems especially risky, which is quite telling for a space that was already considered pretty risky. Despite the potential that crypto and blockchain have, this bad media could spell disaster for them. To solve this issue, we should ask ourselves what makes crypto such a risky asset and what should be done about it.
If you ask this question to Drew Wolfer, he would tell you that the two main reasons are the lack of financial education and the complex technical nature of cryptocurrency. Volatility, speculation, lack of regulation, corporate/individual greed, and similar issues all emerge from these main reasons. As such, Drew has focused on addressing these issues using a two-pronged approach that combines his experience as an entrepreneur and a YouTuber.
As an entrepreneur, Drew understands the desire to push forward, take risks, and find value whenever and wherever he can. Having over seven years of experience in the financial and cybersecurity industry, it was just natural for Drew to find himself interested in the world of crypto as many others had before him.
As Drew explored and became familiar with the space, he realized the potential crypto had to break the wheel and help young people like him to fulfill their dreams. However, this realization was also coupled with increasing awareness about the potential risks the technology represented. Having always had great intuition when it came to spotting opportunities, Drew decided that not only could he start a business but also do some good in the process.
This is when he launched Wolfer Finance in early 2022, a US-based “master and validator node blockchain hosting company” focused on increasing, scaling, and sustaining the value of the assets under its management through compounding its own income.
“Wolfer Finance is not like many other projects you would find in the crypto space. Instead of constantly looking for new members and funding, we limit ourselves to allocating the initial capital in proper fashion, the first time, to continuously scale the assets we manage.“ Says Drew about the project’s unique model.
“We believe that the traditional model used in the crypto space is dangerously close to a pyramid or ponzi scheme in many instances. By using a different approach, we can focus on actually building real businesses, with real income, while also offering security and confidence”
As Wolfer Finance grew, Drew started looking for new opportunities to help his community take full advantage of what crypto had to offer. He quickly found that one of the common difficulties that new crypto users face is the irrecoverability of funds incorrectly transferred to another wallet via the incorrect blockchain or an “incompatible wallet.” This issue is the result of blockchain being highly decentralized, which means no central authority can revert such transactions.
Drew launched PreSend later in August 2022 to deal with this problem, offering the platform’s users an additional layer of security when making crypto transactions across chains and wallets. Instead of trying to reverse a transaction, Drew focused on preventing incorrect transactions from occuring in the first place.
As part of his plan to make crypto safer and more accessible, Drew has also been stepping up his media and YouTube presence. In these, he regularly creates content aiming to educate its viewers on the ins and outs of finance, investing, crypto, and other relevant topics. To him, this is the way to prevent the catastrophes that took place in the world of crypto in 2022. Drew was the keynote speaker at the World Blockchain Summit 2022 in Dubai, UAE.
With crypto already out there, it is no longer possible to go back. It is up to investors, regulators, project leads, and influencers to make sure that information is readily available and that people new to the space have the right tools to start their journey safely. While people like Drew are already doing this, he expects all of the members of the community to play a role in helping others realize their dreams.