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Kloint and Korea University to develop on-chain data analysis solutions

Web3 & Enterprise·November 07, 2023, 7:16 AM

Kloint, a company specializing in the tracking of virtual asset transactions, revealed on Tuesday a partnership with the College of Informatics and the Center for Information System Security at Korea University. The collaboration is set to focus on the joint development of algorithms and platforms for on-chain data analysis.

Photo by Shubham Dhage on Unsplash

 

Sharing insights on regulatory frameworks

As part of this initiative, Kloint and Korea University will cooperate to understand the domestic and international demand for on-chain data analysis. They will also exchange insights on the regulatory and policy frameworks that govern the technologies involved.

 

Growing crypto-related criminal activities

The collaborative effort between Kloint and Korea University is set against a backdrop where, with the expansion of the cryptocurrency market, there has been a corresponding uptick in its use for criminal activities like money laundering, drug trafficking, and embezzlement.

Traditional techniques used by government bodies, such as the public prosecutor’s office and financial regulators, have proven expensive and increasingly ineffective in tracking virtual assets as they struggle to keep pace with the sophisticated methods now used to circumvent detection.

Kloint was co-founded last September by three blockchain technology firms: Fair Square Lab, S2W and Ozys. With a vision set on the horizon, Kloint is gearing up to supply government entities and virtual asset service providers (VASPs) with analytical platforms and reporting services. In the more immediate term, the company is focusing its efforts on developing solutions for data collection and analysis tailored to the Korean cryptocurrency market.

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