DeepMarkit Corp, a technology company of which Radiance Assets Berhad, a Shariah-compliant investment company had acquired a significant stake earlier this year announced that its wholly-owned subsidiary known as First Carbon Corp. (FCC) has successfully received a Security Assessment Certificate from Quantstamp. Quantstamp, a leading blockchain security provider evaluated and approved security-related issues, code quality, and adherence to specifications and best practices in regard to the MintCarbon.io platform’s smart contracts.
The company abides by Quantstamp’s iterative audit process to meticulously review and test the MintCarbon.io platform’s blockchain-based smart contracts. Quantstamp performed the security assessment of the platform’s codebase and FCC incorporated feedback and recommendations from Quantstamp to complete the audit and receive the Certificate. All audited smart contracts are now ready to be deployed on the MintCarbon.io platform.
“We are excited to announce the Company’s receipt of the important Security Assessment Certificate from Quantstamp. The Certificate validates our robust focus on enhancing the MintCarbon.io platform’s codebase security. Performing institutional-level diligence further highlights our competitive strategy, which is to ensure that our products and ideas are well designed, offer a high level of utility to stakeholders, and are well protected. We continue to enhance the MintCarbon.io platform for users worldwide and build supply-side relationships globally as well,” said Ranjeet Sundher, Chief Executive Officer of DeepMarkit.
Quantstamp CEO Richard Ma says that “The carbon credit market is an excellent example of how Web3 can improve liquidity in traditional markets,”. “We are proud to provide the security foundation necessary for pragmatic use cases to thrive in the real world,” added Mr. Ma.
Quantstamp is a leader in blockchain security, with the mission to secure the decentralized internet. To date, it has protected over RM13.332 billion ($200 billion) in digital asset risk from hackers. Start-ups, foundations, and other enterprises work with Quantstamp to protect their creative ideas and products. Quantstamp’s services include securing Layer 1 blockchains, securing smart contract-powered NFT and De-Fi applications as well as developing financial primitives for Layer 1 blockchain ecosystems.
With Web3 security more critical than ever, developers are encouraged to test and evaluate codes by engaging with an established third-party security auditor. Accordingly, DeepMarkit’s engagement with Quantstamp through FCC is aligned with its goal of ensuring the security of the MintCarbon.io platform for users and stakeholders.
As part of the Shariah-compliant asset management firm’s mission to spearhead clean technology (“cleantech”) solutions through the introduction of carbon offset markets in Malaysia, the collaboration will see the two companies utilize First Carbon Corp’s web-based, turnkey platform MintCarbon.io. The digital tool will facilitate the minting of carbon credits into highly customizable non-fungible tokens (NFTs) that are tradable on the blockchain.
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