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Tuesday, February 05, 2019

Google Wants to Search Blockchains

Searchability means being able to measure, understand and ultimately regulate what is going on inside a blockchain.  Have talked to Washington regulatory compliance bureaucrats, and they are worried about blockchains.   Google is looking to make their search technology work within  blockchains.  And make money doing that.   Good overview of the recently revealed effort:

Navigating Bitcoin, Ethereum, XRP: How Google Is Quietly Making Blockchains Searchable  by Michael del Castillo in Forbes  .... "

and as an example:

The SEC is looking for a blockchain analysis tool in TheBlock.

The U.S. Securities and Exchange Commission (SEC) is publicly looking for a tool that would provide blockchain analysis data of the most widely used cryptocurrencies in order to monitor risk, improve compliance, and inform the policy with respect to digital assets.

One of the required abilities of the tool is a "capability to derive insights from the available data, including attribution data (i.e. to whom a particular address belongs)." The U.S. government have previously worked with multiple blockchain analysis companies including Chainalysis, Elliptic and CipherTrace. Most of the blockchain analysis tools still seem to be limited mainly to analyzing Bitcoin's blockchain while the SEC is looking for an analysis of "the most widely used blockchain ledgers."   ... "

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