Elliptic Launches Anti-money Laundering Visualization Tool


London-based bitcoin analytics and security firm Elliptic announced that it has launched “The Bitcoin Big Bang,” an interactive visualization that plots the emergence and interconnectivity of the key players in Bitcoin since its genesis in 2009.

Elliptic describes The Bitcoin Big Bang as a breakthrough in bitcoin transaction monitoring and compliance that will help “Bitcoin startups thoughout the UK gain banking services” according to Elliptic COO Dr. Tim Robinson. Elliptic has harnessed the underlying technology supporting the visualization to deliver a full suite of anti-money laundering (AML) services. The API will enable real-time compliance, by alerting recipients of bitcoin payments linked to known thefts, illicit marketplaces and other criminal activity.

The visualization identifies more than 250 of the largest entities and the historical transactions between them. Illicit marketplaces and money laundering services are identified by name, while standard entities are described purely by their primary business to protect privacy.

“If digital currency is to take its legitimate place in the enterprise it inevitably must step out of the shadows of the dark web,” said Elliptic CEO James Smith. “Our technology allows us to trace historic and real-time flow, and represents the tipping point for enterprise adoption

Read more ... source: TheBitcoinNews