Bitfury Unveils Solution For Analyzing Bitcoin Addresses

The new solution will help to reveal relationships between bitcoin addresses that minimizes errors in data and ensures greater accuracy in linking bitcoin addresses for criminal investigations
08 January 2018   520

 The Bitfury Group, the world’s leading full-service Blockchain technology company detailed a new solution to help reveal relationships between bitcoin addresses that minimizes errors in data and ensures greater accuracy in linking bitcoin addresses for criminal investigations, while also showing bitcoin users ways to protect their privacy.

Currently, bitcoin users can have multiple addresses, making it easier to conceal identities and commit crimes on the Blockchain. The ability to link related addresses, called ‘clustering,’ is an important new tool that helps law enforcement agencies conduct criminal investigations.

 

Valery Vavilov

CEO, The Bitfury Group

Bitcoin address clustering is a process that exposes bitcoin users by determining which addresses belong to a single user through an analysis of Blockchain data. The act of clustering groups those addresses together, enabling investigators to link them to a single entity.

In a new report, Bitfury reveals a comprehensive approach to clustering that reduces errors in results. While prior algorithms constructed clustering models using Blockchain information and validated it with off-chain data, such as public information on the Internet, Bitfury’s new method uses both data types during the model construction step. The proposed approach allows investigators to reduce errors in unreliable input data sources and achieve a higher level of accuracy.

Japanese 'Money Forward' to Launch Crypto Exchange

Money Forward Financial is going to launch a media crypto platform this summer, and afterwards - a digital assets exchange
24 May 2018   63

The operator of the popular application for personal finance management Money Forward Inc intends to launch a cryptocurrency exchange this year, BC Focus reports.

Japanese fintech-company has been working in this direction since December last year. To implement the plans, the company has already registered a subsidiary division called Money Forward Financial.

Money Forward Financial is going to launch a media cryptocurrency platform, and afterwards - a digital assets exchange. In the future, the company plans to create a number of more advanced solutions for working with crypto-currencies, including automated payment systems and various analytical tools.

Currently, the customer base of the company has about 5 million users. The cloud application of Money Forward Inc for tax accounting and financial management is used by 500,000 Japanese companies and 2,400 accounting firms.

Big Japanese financial institutions are making steps to cryptocurrency business. Mitsubishi UFJ Financial Group (MUFG), world's 5th biggest bank has announced plans to introduce own cryptocurrency by 2019.