Institutions seek detailed blockchain analytics for crypto adoption

Blockchain analytics is a rapidly growing field that is helping institutions to adopt cryptocurrencies. By blockchain analytics for crypto adoption data, institutions can identify risks and opportunities, and make informed decisions about how to engage with the crypto market.

One of the leading providers of blockchain analytics solutions is Elliptic. Elliptic works with a wide range of institutions, including banks, crypto exchanges, and government agencies.

In a recent interview with Cointelegraph, Elliptic's co-founder and chief scientist, Tom Robinson, and senior cryptocurrency threat analyst, Eray Akartuna, discussed the growing demand for blockchain analytics, and how institutions are using these tools to adopt cryptocurrencies.

Why institutions need blockchain analytics

There are a number of reasons why institutions need blockchain analytics. First, blockchain analytics can help institutions to comply with anti-money laundering (AML) and know-your-customer (KYC) regulations.

Second, blockchain analytics can help institutions to identify and mitigate risks. For example, institutions can use blockchain analytics to identify wallets that are associated with illicit activities, such as money laundering and terrorism financing.

Third, blockchain analytics can help institutions to make informed decisions about how to engage with the crypto market. For example, institutions can use blockchain analytics to identify market trends, and to assess the risk of investing in new cryptocurrencies or crypto projects.

How institutions are using blockchain analytics

Institutions are using blockchain analytics in a variety of ways. For example, banks are using blockchain analytics to monitor their customers' crypto transactions and to identify suspicious activity.

Crypto exchanges are using blockchain analytics to screen their customers and to prevent illegal activity on their platforms.

Government agencies are using blockchain analytics to investigate financial crimes and to track the movement of illicit funds.

The future of blockchain analytics

The demand for blockchain analytics is expected to grow significantly in the coming years. As more institutions adopt cryptocurrencies, they will need to invest in blockchain analytics solutions to manage their risks and to comply with regulations.

In addition, blockchain analytics is becoming increasingly sophisticated. This is making it possible to identify and track new types of financial crime, and to gain a deeper understanding of the crypto market.

Elliptic's blockchain analytics solutions

Elliptic offers a range of blockchain analytics solutions that are used by institutions around the world. Elliptic's solutions include:

• Elliptic Navigator: A platform that provides real-time insights into the crypto market, including transaction data, wallet risk assessments, and market sentiment analysis.
• Elliptic Investigator: A software tool that allows investigators to explore blockchain data and to identify links between wallets and transactions.
• Elliptic Discovery: A tool that provides risk profiles of crypto businesses and exchanges, based on analysis of their blockchain transactions.

Case studies

Elliptic's blockchain analytics solutions have been used by institutions to investigate a wide range of financial crimes. For example, Elliptic's solutions were used to investigate the 2016 hack of the Bitfinex crypto exchange, and the 2017 WannaCry ransomware attack.

Elliptic's solutions have also been used by institutions to adopt cryptocurrencies. For example, Elliptic's solutions are used by banks such as Goldman Sachs and JPMorgan Chase to monitor their customers' crypto transactions and to identify suspicious activity.

Blockchain analytics is a rapidly growing field that is helping institutions to adopt cryptocurrencies. By analyzing blockchain data, institutions can identify risks and opportunities, and make informed decisions about how to engage with the crypto market.

Elliptic is a leading provider of blockchain analytics solutions. Elliptic's solutions are used by a wide range of institutions, including banks, crypto exchanges, and government agencies.

Elliptic's blockchain analytics solutions have been used to investigate a wide range of financial crimes, and to help institutions adopt cryptocurrencies.