Blockpliance, is a pioneering start-up that I co-founded with Guillermo Fernandes . Guillermo comes from a private banking background and began working on the company in 2021. In the summer of 2022, I joined him as an engineer and advisor and proceeded to take the product to the next level with a team of ambitious college computer science and data analytics students from Princeton and Westmont College. In the summer of 2023, I took on a cofounder role as the second employee and moved into a full-time Chief Technology Officer (CTO) role. This is building off of other work I’ve done in academic cryptocurrency research (e.g., Analyzing the Sustainability of 28 ‘Blockchain for Good’ Projects via Affordances and Constraints ) and some contributions to the bitcoin core client.
But what does Blockpliance do?
Blockpliance is a pioneering company that specializes in risk assessment for cryptocurrency wallets. That means that our unique platform assigns a risk score to crypto wallets based on their behavior. Think of it as a credit score but for risk assessment, instead. We allow existing compliance teams at banks and other financial institutions to meet regulatory requirements and interact safely with crypto-derived assets. We employ a proprietary scoring system, based on on- and off-chain data, to prevent institutions from transacting with the bad guys. Blockpliance’s algorithm is designed to analyze and detect a range of illicit activities including money laundering, human trafficking, terrorist financing, ransomware, scams, and other forms of criminal (and non-criminal) activity.
What makes Blockpliance different?
What sets Blockpliance apart is its capacity to enhance existing risk assessment systems rather than compete with them. Through the use of Machine Learning (ML) and Artificial Intelligence (AI), the company rapidly generates a risk score for cryptocurrency wallets, providing crucial contextual information about their transactional behavior within seconds. This approach eliminates the need for extensive manual investigations by pre-screening all transactions and offering a comprehensive evaluation of the regulatory risk associated with each wallet. As a result, institutions can expedite their internal decision-making processes and empower their financial investigators.
Who is Blockpliance’s target customer?
Blockpliance caters to a diverse clientele including banks, money service businesses, wire remitters, credit card issuers, crypto exchanges, digital wallets, Non-Fungible Token (NFT) platforms, Decentralized Finance (DeFi) providers, and public sector entities. Our offerings range from know-your-transaction services to enriched wallet data, facilitating a deeper understanding of blockchain activity. Additionally, our tools, including the Wallet Intelligence API and Ledger Navigator, provide essential data for informed transactions. Furthermore, Blockpliance’s collaboration tool facilitates the exchange of information between institutions and regulatory agencies without compromising the privacy of wallet owner’s identity. The company’s focus on timely filing of Suspicious Activity Reports aids in the swift mitigation of threats, proactively safeguarding client institutions.