Three Crypto Analysis Firms Advance in ‘TechSprint’ RegTech Competition

Three blockchain analysis firms are among the companies shortlisted in the “TechSprint” regulatory technology hackathon co-sponsored by the Bank for International Settlements (BIS) Innovation Hub and the Saudi G20 Presidency.

• Coinfirm, Cylynx, UnBlock Analysis and 17 other companies are building cryptocurrency monitoring, regulatory information sharing and data-mining technologies for the fintech competition. Judges chose 20 finalists from a pool of 128 entries, BIS said Monday.
• The crypto-focused companies are likely building tracing software – perhaps utilizing the artificial intelligence, machine learning and data visualization techniques requested in TechSprint’s problem statementhttps://www.g20techsprint.apixplatform.com/problem-statement/profile/420. However, BIS did not provide a competitor breakdown by focus areas.
• A company called BlockFundChain also made the cut, but it was unclear at press time what the firm does, what problem it’s seeking to solve or where it is based.
• TechSprint winners will receive one of three $50,000 cash prizes and a speaking slot at a Singapore fintech festival in November.

See also: CipherTrace Says It Can Instantly Flag Shady Transactions With Predictive Risk Scores