Bitfury Developed Suspicious Transactions Tracking Tool

Crystal service is designed to break the idea of bitcoin as the black market instrument
30 January 2018   553

Bitfury, a mining company, introduced the Crystal toolkit, designed to identify and investigate criminal activities in Bitcoin. This is reported by Coindesk.

The platform has been developed for two years. It is designed to break the idea of bitcoin as the black market instrument.

The industry needs some very user-friendly tools so that you can track bitcoin transactions and see if this bitcoin address that you're getting money from is green or black.
 

Valery Vavilov

CEO, Bitfury Group

The Crystal service will allow law enforcement officers and private experts to trace the ways of moving suspicious transactions to the final recipient or point of sale of the cryptocurrency. By establishing the relationship between alleged intruders, Crystal will be able to determine the likelihood of individual addresses being involved in illegal activities.

Crystal
Crystal 

Other tools will help autonomously monitor bitcoin addresses, compile and distribute reports according to specified criteria and even establish the origin and purpose of transactions.

We are analyzing the web, we are analyzing the forums, we are analyzing different kinds of sources, and combining this information and getting some kind of result if this transaction is risky or not.
 

Valery Vavilov

CEO, Bitfury Group

The corporate version of the Crystal Pro product will be integrated into the company's own networks and will not only allow them to monitor the activity in the blockchain but also provide additional security for their crypto-currency transactions.

The free version of Crystal software is available from January 30th. Tariffs for corporate clients will be presented in March.

Bakkt to be Launched in December

It is also reported that Goldman Sachs does not plan to create custodial cryptocurrency solutions based on the Bakkt infrastructure
19 October 2018   67

The expected launch of the Bakkt will take place on December 12 of this year. It is reported by The Block, citing informed sources.

Also, the material states that the investment bank Goldman Sachs does not plan to create custodial cryptocurrency solutions based on the Bakkt infrastructure. At the same time, the bank is considering the possibility of trading futures on a new platform.

In a recent Fortune interview with Bakkt, Kelly Lofler said that the cryptocurrency market is on the verge of a revolution comparable in size to the one that occurred on the energy market in the early 2000s.

Greater institutional participation in the digital asset markets requires secure and regulated custody solutions. We are impressed by BitGo’s product, unique services, and the management team. We view our investment in BitGo as an exciting opportunity to contribute to the evolution of this critical market infrastructure.
 

Rana Yared

Managing director, Goldman Sachs’ Principal Strategic Investments group

Bakkt is a cryptocurrency unit of the Intercontinental Exchange (ICE), which is the operator of the New York Stock Exchange. Giants such as Microsoft and Starbucks are taking part in creating of the new project, which is positioned as an “ecosystem for digital assets”.

The new platform will offer deliverable bitcoin futures to the market (unlike the settlement contracts for CBOE and CME, these are based on the underlying asset). The platform will support multiple fiat currencies.