Blockchain Intelligence Group (BIG) (CSE: BIGG; OTCQB: BBKCF; WKN: A2PS9W), a digital forensics firm which supplies a suite of blockchain analytics and risk assessment services, announced today it would add Bitcoin SV (BSV) to its list of supported blockchains. In a statement, the company recognized Bitcoin as “a protocol for the world’s data network similar to the Internet,” and “dedicated to unbounded scaling and massive on-chain transaction throughput by enterprise.”
A subsidiary of the publicly-listed BIGG Digital Assets Inc., Blockchain Intelligence Group offer two primary products, QLUE (Qualitiative Law Enforcement Unified Edge), and Bitrank Verified, both of which are aimed at large corporations and government agencies wishing to perform due diligence and other investigative tasks using blockchain data.
BIG President Lance Morginn told CoinGeek on the decision to add Bitcoin SV support that it was necessary for his company to have “visibility into the top cryptocurrencies in the marketplace.” Other blockchains/assets supported on BIG’s suite of services include BTC, ETH, LTC, and ERC-20 tokens.
The Vancouver-based, CSE-listed company launched five and a half years ago, filling an emerging market void for data intelligence on digital asset transactions. According to Morginn, there was also a “lack-of-knowledge state” in industries that would inevitably encounter and engage with the digital asset community.
He says that they initially received the most expressions of interest from law enforcement agencies, with banks and more specific digital asset-oriented companies like exchanges and payment processors following further down the line. In recent years, there have been increasing obligations on these companies to gather data on their customers (KYC).
Still, some exchanges believe that moving between “crypto-friendly” jurisdictions or having ambiguous corporate structures protects them from fulfilling these obligations—or from regulatory intervention altogether. But this is becoming increasingly more difficult to do, demonstrating that governments have little-to-no tolerance for digital services that facilitate money laundering or allow parties to move and shuffle large amounts of money across borders without detection.
“Our tagline since day one has been ‘bringing cryptocurrencies mainstream’ and we feel that these tools will allow regulators and law enforcement to be able to perform their traditional duties in this new realm,” said Morginn.
“With that, regulation will be passed, making crypto on-ramps easier, making adoption greater.”
