The Bitcoin Big Bang – Elliptic’s Remarkable Breakthrough in AML

Bitcoin Firm Elliptic Awarded Security Project of the Year Award

Avatar Guest Author 4 years ago

In a post penned by the CTO & Co-Founder, Dr. Adam Joyce, UK-based Bitcoin analytics firm Elliptic has announced that it has been awarded Security Project of the Year award by the leading financial magazine, The Banker.

The Banker’s Technology Projects of the Year awards are among the highly coveted in the industry. This year, the magazine received 270 submissions in various categories such as risk management, security, social media, strategic transformation, trading, payments, developers APIs, data and several others. Other winners included JPMorgan Asset Management, BNY Mellon, Citigroup, BBVA, OTP Bank and ParFX Prime.

The Banker awards judges explained:

Sound storage and management of blockchain technology has become imperative in today’s market … Elliptic Vault addresses these key security issues. Projects such as Elliptic Vault could help make Bitcoin more attractive to relatively conventional or conservative financial institutions that still shy away from this new technology and its security issues.

James Smith, CEO and co-founder at Elliptic said,

Bitcoin and other blockchain-based assets operate as bearer instruments – if you lose the key, you lose control of the asset. It is, therefore, essential that companies using this technology protect their keys in the most secure way possible. Elliptic Vault provides that enterprise-grade security, giving the user confidence that their blockchain assets are safe.

Elliptic Vault is among the most trusted custodian services for institutions. It is the first company to have been insured by a Fortune 100 insurer and the first in the UK to have received VC funding.

To tackle the ever-growing menace of the money laundering, the company recently launched an interactive visualization tool – The Bitcoin Big Bang – that marks more than 250 prominent entities and identifies the historical transactions between them.

The security and analytics firm also partnered with Bitcoin derivatives exchange Crypto Facilities to bring enterprise standards to Bitcoin trading.

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