Blockchain
OKG Tech Launches OKLink Onchain AML Platform for Virtual Asset Compliance and Risk Detection
OKG Technology Holdings Limited (OKG Tech, 1499.HK), a leading blockchain technology company, launched an all-in-one anti-money laundering (AML) platform called OKLink Onchain AML, which ensures compliance and risk detection for virtual asset companies, DeFi projects and financial institutions through advanced know-your-transaction, know-your-address, blockchain indicators and security audit technologies. OKG Tech is the largest blockchain company in Asia that offers this type of regulatory technology (RegTech) platform.
In addition to supporting 100+ blockchains and having the most comprehensive ‘label’ library in the industry, the OKLink Onchain AML platform also supports a history of all transactions ever recorded across all of these blockchains. This makes OKLink Onchain AML platform the most secure and holistic risk detection and AML platform on the market.
OKLink Onchain AML ‘labels’ work by attaching identifiers to blockchain addresses in order to detect and identify risky contracts, addresses, tokens and illicit activities, as well as helping clients distinguish addresses that belong to exchanges, MEV bots, smart contracts, hackers, crypto whales and many others. The label data is combined with on-chain data analytics to enhance OKLink Onchain AML platform’s capability to provide automated and continuous transaction screening and tracing. This can be customized according to specific compliance programs, risk policies or other requirements.
OKG Tech Executive Director and OKLink Vice President Mr. Zhang Chao said: “OKG Tech is leading the way in making the virtual asset industry more transparent and secure with the official launch of OKLink Onchain AML platform. The platform also demonstrates OKG Tech’s continued commitments to developing and offering intuitive, blockchain-powered tools that help customers monitor risks and ensure compliance with the ever-evolving regulatory landscape.”
The OKLink Onchain AML platform is easy-to-use and powerful, allowing for a wide range of use cases, including:
- Virtual Asset Service Providers (VASPs) that are required to meet various jurisdictions’ regulatory requirements, such as those under Hong Kong’s VASP licensing regime, and to safeguard platform services against financial crimes and sanctioned individuals and corporations
- Financial institutions and service providers seeking enhanced compliance solutions that detect illicit activities on-chain, such as money laundering and terrorist financing, as well as fraud and theft
- DeFi projects and on-chain protocols that aim to detect and mitigate risks through customizable alerts for contract codes and funds associated with individuals and entities involved in financial misconduct, sanctions, money laundering, terrorist financing and other illicit activities
- Government entities and law enforcement agencies that aim to identify, monitor and investigate virtual asset transaction risks and financial crimes
The official launch of OKLink Onchain AML platform follows Hong Kong’s new licensing regime for VASPs, which came into effect on June 1, 2023. The new VASP guidelines aim to protect investors by implementing robust requirements and safeguarding measures related to custody of assets, segregation of client assets and cybersecurity standards. As VASPs are required to operate under Hong Kong’s regulatory framework, there will be a greater emphasis on fulfilling regulatory compliance requirements, including AML and on-chain transaction monitoring, in the region.
Aside from OKLink Onchain AML platform, OKG Tech offers several other solutions, including Blockchain Explorer, a one-stop data analysis platform for Web3, and Chaintelligence, an on-chain data investigation tool that facilitates investigations. To find out more about OKG Tech’s blockchain analytics tools, click here.
Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
The post Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity) appeared first on News, Events, Advertising Options.
Blockchain
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Blockchain
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