Chainalysis Kryptos, identifying risks related to cryptocurrencies
Crypto

Chainalysis Kryptos, identifying risks related to cryptocurrencies

By Alfredo de Candia - 12 Nov 2019

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Chainalysis announced the presentation of Kryptos, a tool designed for institutional players that allows the identification of risks or opportunities related to cryptocurrencies.

In this world, it is difficult to navigate without reference points. Judging whether a service or a project is valid or not, could result in the loss of capital and time that is important for the user, and so a tool like Kryptos could certainly guide subjects to understand what to focus on.

Chainalysis Kryptos provides a standard for major players who want to analyse the opportunities and risks of different cryptocurrencies, allowing the identification of suspicious activities concerning an asset or an exchange.

Kryptos will provide an annual view of the major exchanges, by volume, along with data on the country where they operate, the cryptocurrencies listed and the use of KYC procedures, providing customers with a platform that will help them decide whether to enter into a particular partnership.

All platform data can be exported to a convenient CSV file that can be integrated and added to provide a complete and detailed picture of institutional data and prepare a plan to provide assets to customers. 

As Chainalysis co-founder Michael Gronager said:

 “We’ve heard grass roots excitement for cryptocurrency from financial institutions for years, and now we’re focused on breaking down the barriers to entry. Finally, financial institutions can access the transparency they need to fulfill their compliance responsibilities, meet customer demand, and seize the market opportunity they already believe in.”

The service is already in beta and is accessible for testing. It will come into force at the beginning of the new year, featuring all the details of the current year or of the last 12 months, allowing institutional companies to decide with greater clarity what assets to take into account and from which platforms and exchanges to recover the data.

 

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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