Three Crypto Analysis Firms Advance in ‘TechSprint’ RegTech Competition

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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 statement. 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

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