Deloitte is set to boost its clients’ blockchain-tracking capabilities following a strategic alliance with crypto analytics firm Chainalysis, reports Cointelegraph.
Announced during a Chainalysis conference in Washington, DC, the tie-up will see Chainalysis’ blockchain data sets, analytics software and training programs assist Deloitte’s clients with their crypto forensic, investigative and compliance needs.
A Chainalysis spokesperson told Cointelegraph that the alliance had been in the works for years, with the aim of helping more organisations to adopt blockchain technology.
Thomas Stanley, president and chief revenue officer of Chainalysis, said the collaboration is aimed at their mutual clients, including law enforcement agencies, regulators and financial institutions.
“We’re starting with a focus on regulators, law enforcement, and financial institutions given where they are at in their adoption of this technology and the unique overlap of our customer base,” the spokesperson added, noting that it will be introduced in the United States first.
“We’re initially rolling this out in the United States, but it is something that other markets can readily adopt. It’s our belief that other global markets will follow suit.”
In a document outlining the alliance, Deloitte said some of the challenges faced by government agencies include when cryptocurrencies are used to obfuscate transactions and launder the proceeds of crime, while the international regulatory landscape creates difficulty obtaining information from foreign exchanges.