Published On: Mon, Apr 9th, 2018

New “Know-Your-Transaction” Tool Enables Enhanced Blockchain Investigation

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Cryptocurrency investigation enterprise Chainalysis is releasing a product called Know Your Transaction (KYT) designed to help businesses track customers that may be involved in illicit cryptocurrency-related activity. The company’s clientele includes the Federal Bureau of Investigation (FBI), the Drug Enforcement Administration (DEA) and Europol.Per a recent blog post, Chainalysis stated that it holds a lot of faith in both cryptocurrencies and blockchain technology: “Blockchains create new ways for people to build trust among themselves and transact using cryptocurrencies. Cryptocurrencies have, in turn, inspired people to reimagine the financial machinery that powers world commerce. People are collecting …

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