BlockShow, a blockchain event, announced on Tuesday it has formed a partnership with Bitfury, a full-service blockchain company, to bring the analytical security software Crystal to next week’s Singapore event. The duo revealed:
“Crystal, which has assisted financial institutions and law enforcement in identifying and tracing criminal activities such as extortion and money-laundering, assigns a risk score based on every bitcoin address that has ever appeared in the blockchain. All attendees at BlockShow Asia 2018 will have access to the Bitfury software and will be able to scan the QR code of their crypto-wallets to get their risk scores.”
Speaking about the partnership, Addy Creaze, CEO of BlockShow, stated:
“All of our events are centered on a simple premise: we believe in the power of blockchain and cryptocurrencies. But we also believe inh transparency and aren’t going to ignore the dangers that come with this promising new technology. To some extent, the more promising a technology is, the more people want to sabotage it. The great thing is that cutting-edge responses like Crystal exist; we are looking forward to helping attendees understand and address some of crypto’s risks at next week’s gathering, as we also explore its undeniable potential.”
Kyrylo Chykhradze, Head of Bitfury Crystal, then added:
“Bitfury is proud to participate in BlockShow Asia this week, to demonstrate our unique ‘risk score,’ which relies on a database we’ve compiled of hundreds of organizations and thousands of individuals who own bitcoin addresses. That information is analyzed using an algorithm to estimate the ‘risk’ that a cluster of bitcoin addresses is related to illegal activity. Participation in Blockshow – an important forum in the blockchain industry – helps us to support the intentions of the organisers and Bitfury in drawing attention to important topics of crypto – such as trust, transparency and cybersecurity.”
BlockShow Asia 2018 will take place in Singapore for the second time on November 28th and 29th, with a full week of events organized around it in a jam-packed Asia Blockchain Week.