Quantstamp, a blockchain security company, proudly announced about establishing a limited liability company, Quantstamp Japan GK on 06 March.
The blog substantiated that this inception comes in the wake to assist Japanese startups and enterprises in using secure blockchain technology. This establishment is backed by sizeable investment from the Japanese financial holding company, Nomura Holdings, and Digital Garage, an Internet business group.
Quantstamp conducts manual audits and automated scans and is developing security products, services, protocols, and other automated security tools. The Quantstamp protocol is working towards enhancing smart contract security and the reputation of projects. This is applicable to projects that create smart contracts by producing openly accessible scan reports.
The blog touched upon other salient calibers of Quantstamp explaining that computer-based reasoning tools are used to provide services that help identify and secure ill-protection in smart contracts. To reiterate, smart contracts are a principal component of blockchain technology.
The blog expressed that Quantstamp provides developers and users an automated tool to scrutinize smart contracts for the most common compromises. Quantstamp also provides white-glove auditing services to help secure large-scale blockchain projects. Quantstamp’s services have been used to secure more than 500 million U.S. dollars of transaction value.
Richard Ma, co-founder, and chief executive officer of Quantstamp Inc cited –
“I’m pleased to announce Quantstamp’s formal expansion to Japan, Japan is an important market in digital payments. We’re expanding our presence as we think that the market for smart contract-driven applications here is strong and will only be growing.”
Chuzaburo Yagi, Senior Managing Director in charge of Innovations at Nomura Holdings, Inc. noted that smart contracts would continue to play a significant role. This is because blockchain technologies are garnering increased adoption in the financial domain. Chuzaburo emphasized that security assurances through auditing and certification would eventually become a mandate. Chuzaburo expressed a belief that Quantstamp is well positioned to support this role.
Yasuhiro Mimura, Managing Director of Digital Garage Incubation Co., Ltd. said that Quantstamp offers the best service available in the market. With a highlight on smart contracts, Yashuhiro clarified that Quantstamp’s solution is the best to identify and mitigate vulnerabilities. Yasuhiro quoted that with Quantstamp’s expertise on smart contract security, more innovations are bound to come.
The blog concluded explaining that Quantstamp is an innovative thought leader in security aspects related to smart contracts. The engineering team at Quantstamp has capabilities with software security, formal verification, static analysis and has more than 900 Google Scholar citations.
Late last month, Quantstamp secured Crypto.com chain to drive more efficient cryptocurrency payments. Crypto.com is a Hong Kong-based payment and cryptocurrency platform which welcomed a senior member this month.