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February 2019, while the crypto ecosystem continues to make considerable progress in building out its infrastructure and 'institutionalising' the space, many crypto players are facing challenges due to a broad range of issues, from a fall in cryptoasset prices to more regular start-up challenges.

This is forcing many crypto firms into situations of financial distress. In this article, they set out the ten things that any director or senior executive of a crypto entity needs to know when its solvency status is in doubt.

Download Crypto Insolvency...

Source: PwC HK - PricewaterhouseCoopers Hong Kong.

15 January 2019 - Initial Coin Offerings (ICOs) are one of the most prominent applications of blockchain for finance, allowing for an innovative and inclusive way of financing small and medium-sized enterprises (SMEs).

Although the lack of regulatory clarity currently exposes ICO participants to some risks, appropriately regulated and supervised ICOs offer a potential new way to raise capital for projects enabled by Distributed Ledger Technologies and the blockchain.

This report analyses the emergence and potential of ICOs as a financing mechanism for start-ups and SMEs, examines the benefits and challenges of this mechanism for small businesses and investors, and discusses the policy implications of ICO activity for the inclusive financing of SMEs and the real economy...

Source: OECD.

February 14, 2019. AmCham SPb News and Events...

The meeting featured three presentations by Igor Bederov, Internet-Rozysk, Yuri Ivanov, Hyundai Motors and by Alexander Podobnykh, SICP and convened around 20 security specialists from member companies.

Presentations:

1. Risks prevention at the first contact stage. What can contact details reveal? (in Russian).

2. Access control and access management systems: new technologies in security provision (in Russian).

3. Prevention and investigation of crypto currency turnover related crime (in Russian).

Source: AmCham Russia.

Released today, Chainalysis latest crypto crime research on $1.6B in hacks, darknet market activity, and Ethereum scams shows how they decoded each type of crime and what it means for AML compliance and investigations.

Crypto crime increased in 2018, but it made up a smaller slice of a much larger market. Indeed, according to they analysis, illicit transactions comprised less than 1% of all economic bitcoin activity in 2018, down from 7% in 2012.

Even so, crime remains a significant problem in the cryptocurrency ecosystem. Exchange hacks have generated billions of dollars in criminal proceeds, darknet market activities have netted hundreds of millions of dollars in illicit revenues, and scams targeting individuals have stolen tens of millions of dollars.

Moreover, criminal use of cryptocurrencies has become far more sophisticated. As a result, in this second edition of their Crypto Crime Report, they go deeper in analysis to seek out granular insight into three categories of criminal activity.

Then, they examine the surprising resilience of darknet markets as law enforcement takes aggressive action against them. In a report on the “whack-a-mole” problem with the darknet, they look at how transaction activity briefly subsides then quickly reroutes itself to new platforms when major darknet markets are closed down.

They also examine changing trends in Ethereum scams, where individuals are targeted, as last year’s phishing schemes lose their effectiveness and more complex Ponzi and ICO exit scams emerge to make outsized gains.

Finally, they discuss the role of cryptocurrency in the broader context of money laundering and highlight the importance of different types of services that are used to integrate illicit cryptocurrency into the clean economy...

Source: Chainalysis Research.

Friday, 08 February 2019 17:33

BLOCKCHAIN TECHNOLOGY DIGEST: JANUARY 2019

Written by

Mind Smith has prepared an overview of key materials, analytical reports, research, reports and research articles. All the most interesting in the industry for the month...

37 analytical studies and reports, 27 scientific articles, 5 documents of international organizations.

Since 2018, Mind Smith has been implementing strategic blockchain consulting. Helps answer the question about the use of technology blockchain in business, conducts research and strategic sessions for top managers.

The company believes in the blockchain technology, but understand its limitations. For effective implementation of a well-coordinated work of the business and technical team. Mind Smith is ready to go all the way from the search for possible scenarios and the preparation of the concept to the implementation of the pilot and the implementation of the solution in the business.

Download digest.

In Russia, announced an online service that analyzes the risks of using cryptocurrency and investigates crimes committed in this area. The development was carried out by the company "Internet-Rozysk".

The service, which was launched last year, was called the Security Intelligence Cryptocurrencies Platform. In January, an alpha version of the service appeared on the site www.ueba.su.

According to the project director Igor Bederov, the service was launched in December last year and as of January 2019, he found 46 thousand bitcoin wallets, which were given the status of "unreliable".

SICP analyzes blockchains, websites, chat rooms, and forums to identify those cyberwiches that are used in criminal schemes, such as fraud, blackmail, money laundering, and so on. Also, the development team of the platform builds interactions with market participants, public organizations and law enforcement agencies. One of the promising goals of the service creators see deanonymization of purses and assigning them the status of “trustworthy” - provided that they are not seen in the implementation of suspicious operations, and “unreliable” - if the operations that were carried out through the wallet raise doubts. At this stage, the strategic partners of the project are CipherTrace, Sentinel Protocol, Crystal, CryptoPolice, Wawes, SPb BlockChain, CryptoRussia.ru and ACISO.

The developers set themselves the task of giving users the ability to track all transactions from the moment they are sent until the moment they receive funds on the recipient’s wallet. The system should work by analogy with the methods that are now used by the financial supervision authorities. The service will identify wallets that are used for money laundering, terrorist financing and other illegal purposes. Also, the service will be able to monitor transactions on certain wallets for a long time, which will allow detecting fraudulent ICOs.

SICP is a breakthrough technology for Russian crypto-business. This prominent development will allow participants of the Russian cryptocurrency market to protect themselves from fraud, journalists said.

Note that on pre-sale, SICP tokens can be purchased at half price, and the alpha version of the service from January 9 can be connected to www.ueba.su.

Source: CryptoRussia.ru

Sunday, 13 January 2019 17:43

THE STATE OF EUROPEAN TECH 2018

Written by

We are proud to present the single, most comprehensive data-driven analysis on European technology today.

What’s changed for European tech in the past 12 months? It’s been another record year for investment in European tech and the sector is powering growth in Europe’s stagnant economy. Yet not everyone is benefitting from the boom. The gains are not being democratized by investors. Companies need to address diversity and inclusion tools and unlock hidden talent pools.

This is the fourth edition of the State of European Tech report, the single, most comprehensive data-driven story of European technology today. We’ve gathered data from world-class data partners and a survey of 5,000 members of the tech ecosystem, from founders to students, investors to researchers. We’ve tried to tell the most important stories. We cover diversity and inclusion, talent, regulation, investment, research and development, and the great, global disrupters out of Europe...

Source: State of European Tech 2018.

On January 8, Bank For International Settlements released BIS Papers № 101, written by By Christian Barontini and Henry Holden.

The hypothetical benefits and risks of central bank digital currencies are being widely discussed. This BIS paper adds to these discussions by taking stock of how progress and plans in this area are developing, based on a global survey of central banks. Responses show that central banks are proceeding with caution and most are only at a conceptual stage with their work. However, a handful have moved to considering practical issues and a couple of central banks with idiosyncratic circumstances might issue a digital currency in the short or medium term.

Source: Bank for International Settlements.

About SICP

Security Intelligence Cryptocurrencies Platform - Cybersecurity infrastructure of the blockchain and antifraud in the cryptocurrency sphere. SICP - antiscam, trust, compliance.

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Fax: +7 (812) 983-0483

Email: sicp@ueba.su

Website: www.ueba.su

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