Chainalysis Launches New Data-Driven Portal Author: Sherlock Gomes Last Updated: 29 July 2020 Blockchain intelligence platform Chainalysis recently launched a new data-driven portal offering comprehensive tracking of digital currencies worldwide. The new tool will be available under the ‘Market Intel’ brand name. Working with data Chainalysis will be depending on its various data repositories to cater to the needs of regulators and asset managers. It will be publishing live data as well as insights on the use of digital currencies as well as “the health and growth of the cryptocurrency markets.” The team of programmers and data scientists at the firm will be leveraging a broad range of quantitative data sources which includes cryptocurrency exchanges and blockchain data sources. It will also clarify and present the view of the blockchain and crypto ecosystem. The compliance software could be used by both cryptocurrency firms as well as law enforcement agencies which can use it to detect suspicious activity to fight against criminal activity in the industry. How does it work? The tool uses pattern recognition, algorithms, and several million open source references to “identify and categorize thousands of cryptocurrency services to raise live alerts on transactions involved in suspicious activity.” The company also says that it providing data insights into the cryptocurrency activity will be useful for exchanges, government agencies as well as financial institutions which will fuel the growth of the industry. Jonathan Levin, the co-founder, and chief strategy officer of Chainalysis said that the company was founded on the belief that both financial institutions and governments need a trusted platform for data to become comfortable with digital currencies. This will eventually be helpful in the mainstream adoption of the new asset class. Chainalysis will be providing both context and metrics for digital currency activity. It will empower both asset managers and regulators in leveraging the transparency of blockchains that make data-driven decisions on making crypto investments and ensure markets work efficiently and safely. Philip Gradwell, the chief economist of Chainalysis said that crypto is poised to become mainstream but regulators need access to data to gain insights into the market and learn how they could go to meaningfully invest in this space.