PricewaterhouseCoopers Launches Blockchain Analysis Tool to Track ICO Coin ChainB.com

nOutburst assessment: PwC, one of the top accounting firms in the world, revealed that the company is currently testing a blockchain analysis tool that tracks the circulation of digital tokens since its release. According to the company, the software will help token issuing companies prevent their tokens from being used for illegal purposes such as money laundering. As China gradually increased its supervision over ICOs, many cryptocurrency related companies in Asia chose to migrate to Hong Kong and Singapore that lacked the ICO regulatory ban, and PricewaterhouseCoopers hopes to make good use of this opportunity for Asian companies to collectively go to sea. Actively cooperate with ICO industry.n
nTranslation: Clovern
PwC, one of the world’s top accounting firms, announced that the company is currently testing an analytical tool designed to track digital currency transactions since its inception. PricewaterhouseCoopers said that the software will help token issuing companies prevent their tokens from being used for illegal purposes.n
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PricewaterhouseCoopers Tests New Blockchain Analysis Softwaren
PricewaterhouseCoopers and its Hong Kong court services partner Eric Young said the company is trying to capitalize on the rising interest in financing through ICOs in the Asian manufacturing, technology, and retail sectors.n
Analysts concluded that as China increasingly monitors ICO, many cryptocurrency related companies in Asia have chosen to move to Hong Kong and Singapore without a ban on ICO supervision. PwC hopes to make good use of this time. opportunity.n
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ICO publishers track the circulation of tokensn
Young said that the new analysis tool will allow token issuers to track the flow of cryptocurrencies after their issuance and allow companies to take measures to prevent their cryptocurrencies from being used for illegal transactions. Young said:n
n”In blockchain books, people can track the volume of transactions that use cryptocurrencies to trade, but ICO publishers still have no way to track the tokens they issue, and it is impossible to know how these tokens are used.”n
nHe added:n
n”Using artificial intelligence built into the back-end engines, our solutions enable customers to better predict the jurisdictions in which digital tokens may circulate. Depending on the type of company and the type of business it is engaged in, it can also be applied to specific jurisdictions. District applies high risk scores.”n
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PricewaterhouseCoopers cooperates with ICO industryn
In recent months, PricewaterhouseCoopers has collaborated with companies that want to launch ICOs to help solve problems they face in the laws of “knowing your customers (KYC)” and “anti-money laundering measures (AML)”. It also provides support and advice for its litigation and makes recommendations on its tax structure.n
In November last year, the PricewaterhouseCoopers Hong Kong office revealed that the agency has accepted Bitcoin for payment of consulting services.n

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