If you haven’t heard of blockchain, you are behind the times. You may not be using it personally, but chances are your bank and brokerage have already implemented this technology. At least 25% of US banks are already using blockchain for processing transactions. Blockchain is a digital ledger of transactions. We do not locate crypto accounts such as bitcoin or ethereum accounts. There are plenty of firms such as Elliptic, Chainalysis, and Skry that locate these types of crypto currency accounts. We do locate regular bank accounts that utilize the storage of digital information and code in blockchain that are impossible to locate with traditional bank locate methods.
What exactly can we track and how is that helpful to our clients? We don’t track crypto currency, we track the ledger transactions from banks and brokerages using this technology to identify bank accounts for a specific customer. Below is a short list of financial institutions already using blockchain. Financial institutions that have already implemented this technology are using it for settlement and clearing of checks. If your current asset location company doesn’t check the tracking points of the transaction, you will miss accounts held by these institutions. It is expected that four out of five banks will be using blockchain technology by 2019. To date, we are the only company that follows and compiles distributed ledger chains from blockchain. These are public and private ledgers of data which is time-stamped and linked to a previous block. We use the top banking blockchain vendors; Chain, Eris, Intel, and IBM on a continuing basis to build our database daily, and have been since 2014. Give us a call and see what you’re missing from your current source.
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