An analyst and security company Elliptic has informed on Thursday that it launches new anti-money laundering tool – ‘The Bitcoin Big Bang’ – for monitoring cryptocurrencies’ transactions and compliance and will be available in July to set group of early customers.
Dr. Jame Smith, Chief Executive Officer of Elliptic says: “If digital currency is to take its legitimate place in the enterprise it inevitably must step out of the shadows of the dark web. Our technology allows us to trace historic and real-time flow, and represents the tipping point for enterprise adoption of bitcoin. We have developed this technology not to incriminate nor to pry; but to support businesses’ anti-money laundering obligations. Compliance officers can finally have peace of mind, knowing that they have performed real, defensible diligence to ascertain that their bitcoin holdings are not derived from the proceeds of crime.”
Elliptic states that during last year they have been maping completely the entire transaction history of bitcoin blockchain and the Bitcoin Big Bang identifies over 750 of the biggest entities and all the transaction between them. Thus illegal marketplaces and money-laundering services are identified by name, while on the contrary standard entities are described only by their major business due to keeping privacy.
Dr. Smith added, “Elliptic’s founding principle is to bring confidence and certainty to enterprises working with bitcoin. We were the first bitcoin custodian to provide comprehensive insurance, the first to be Big Four accredited and now the first to visualise the flows of bitcoin and explode the anonymity myth of the blockchain.”
More from the cryptocurrency market came from New York City bitcoin exchange Coinsetter and consulting company Shift Forex, both introducing Bitbroker – a fresh new bitcoing liquidity and market data service for forex brokerage house.
Via Bitbroker traders will see bitcoins as one of the trading instrument among forex ones, fully supported by MetaTrader 4 through MT4 bridge. Thus liquidity of Coinsetter will be accessible via bitcoin industry’s first FIX 4.4 API, with ironclad security provided by Securicoin®. Moreover, Bitbroker provides up to 5:1 leverage.
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