Blockchain analysis company Chainalysis is expanding its horizons and building a string of partnerships to ensure cryptocurrency exchanges continue to integrate know your customer [KYC] protocols and do what they must to ensure data remains safe.

Chainalysis Is Getting a Major Boost

Among the tactics Chainalysis is utilizing to ensure companies remain in compliance include simpler integrations and by working with distribution partners across newer and broader markets. The company is also enhancing its data providers to get a better idea of which accounts and businesses are potentially engaging in illicit crypto activity.

The company is hoping to utilize all these tools to ensure trust is built between government bodies and institutions and crypto-based businesses. Among the partners Chainalysis is bringing on board include new compliance software companies, training specialists, banks, crypto wallet services and investigative firms.

Jason Bonds – chief revenue officer at Chainalysis – explained in a statement:

Chainalysis is dedicated to building trust in blockchains across both private and public sectors. Our new partnership program will amplify our already extensive reach across jurisdictions where we provide the investigative and compliance technology the cryptocurrency ecosystem needs to fully understand blockchain activity.

Security has become one of the biggest topics in the crypto space. Earlier today, Live Bitcoin News announced that Moon Pay was bringing on Nils Puhlmann as its latest cybersecurity advisor to ensure its future partnerships and integrations went smoothly and presented the least amount of danger to its many customers.

Lacey Wean – manager of the Chainalysis team at Carahsoft – further stated:

Our law enforcement end users are increasingly looking for cryptocurrency investigative technology to help in cases with criminal and national security implications. Chainalysis is the market leader in blockchain analysis, and we are thrilled to work with our reseller partners to provide greater access to their investigative tools.

If the crypto space is ever going to gain the legitimacy it’s been dreaming about for so long, it’s going to need to up the ante on its security measures. As it stands, security is very up and down, and while more and more companies are integrating the right procedures to ensure data and money remains safe, more is necessary to place bitcoin along the same lines as fiat or credit cards.

Thus, situations or events like those that occurred with Mt. Gox in 2014 or Coincheck in 2018 cannot ever happen again, as the crypto space runs the risk of never being taken seriously.

Time for Crypto to Become Legit

Rayson Lim – chief financial officer at M.Tech – is among the few partnering with the blockchain analysis firm. He comments:

In the APAC marketplace, we are noticing increased demand from law enforcement for cryptocurrency investigative software. Our partnership with a top tier company like Chainalysis will help fill this demand.

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