Blockchain
AnChain.AI Deploys Next-Gen Web3 Analytics On Elrond To Boost Compliance And Fraud Prevention
San Francisco, California–(Newsfile Corp. – May 10, 2022) – Elrond Network, the developer of internet-scale blockchain infrastructure for Web3 payments, DeFi and the new Metaverse economy, has announced the completion of the integration with AnChain.AI, the AI-powered next-gen blockchain analytics platform.
This integration has strategic implications for Elrond’s recent moves into traditional and blockchain-based digital payments infrastructure. Through consecutive acquisitions, Elrond has expanded its portfolio to include an e-money license, a Virtual Asset Service Provider (VASP) license, and the ability to issue debit cards, all valid throughout the entire European Economic Area.
“We are making decisive steps for the integration of blockchain technology into the global financial system,” said Beniamin Mincu, Elrond Network CEO. “International financial institutions and national economies can operate and collaborate using our scalable architecture. It is therefore essential that they have access to the highest levels of compliance and fraud prevention. Anchain.AI is a great enabler in this regard.”
AnChain’s industry-leading blockchain analytics capabilities has made the AI-driven platform an indispensable tool for the forensics and compliance capabilities of major financial institutions such as the US SEC (Securities and Exchange Commission), governments, digital asset exchanges and other VASPs and financial institutions. Adopters of Elrond can now leverage this important technology to maintain secure and compliant operations.
“We are at an inflection point where enterprises and governments are rapidly realizing that blockchain technology has become indispensable for efficiency increase and sustainable growth,” said Victor Fang, Ph.D, CEO of AnChain.AI,. “The AnChain.AI Next-Gen Web3 Analytics Suite will complement Elrond’s promising technology and give it an important edge that will enable it to meet the influx of new institutional demand.”
The AnChain.AI Next-Gen Web3 Analytics Suite will provide applications using Elrond Network blockchain technology with the ability to quickly make sense of large data sets pertaining to on-chain transactions, powered by Machine Learning and Artificial Intelligence. This will bolster the ability of organizations to avoid interactions with addresses flagged for illicit activities, prevent fraud attempts and help with the tracking and recovery of misappropriated digital assets.
With the powerful AI-driven security toolkit deployed on top of its internet-scale infrastructure, the Elrond Network establishes itself as a leader in the push for the adoption of blockchain technology in organizations, nations and international institutions, and for the creation of a new digital financial system at a global scale.
About Elrond
Elrond is a new blockchain architecture, designed from scratch to bring a 1,000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 10,000 transactions per second (TPS), with 5-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.
Media Contact:
Dan Voicu, Head of Communications
[email protected]
About AnChain.AI
AnChain.AI (San Francisco) is an AI-powered cybersecurity company enhancing Web3 security, risk, and compliance strategies. AnChain.AI was founded in 2018 by cybersecurity and enterprise software veterans from FireEye and Mandiant. Backed by both Silicon Valley and Wall Street VCs, and selected in the Berkeley Blockchain Xcelerator, the company is trusted by 100+ customers from over 10+ countries in these sectors: VASPs, financial institutions, and government, including the U.S. SEC (Securities and Exchange Commission). Featured by CBS News, MIT Tech Review, Coindesk, and DEFCON, AnChain.AI’s AML engine screens over $1 billion in daily crypto transactions.
Media Contact:
Steven Yang, Director of Marketing
[email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/123434
Blockchain
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Blockchain
This Week in Finance News: 11 Stories You Need to See
With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.
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- Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few. - Cardinal Health announces two strategic additions to its portfolio
Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash. - BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems. - Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
“I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands. - Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately. - PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
- Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
- Finaya Unveils Nationwide Homeownership Platform
From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient. - GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too. - GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics. - Most US shoppers are encountering generative AI while shopping without realizing it
A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.
For more news like this, check out all of the latest finance-related releases from PR Newswire.
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