BlockCorp, a cryptocurrency research and development company, has released its latest platform for bitcoin analytics, BlockTrail, competing with the likes of Blockchain.info and Blockr.
“We could imagine a day in the future where people will evaluate where the money has come from,” entrepreneur and CEO Bechar said on Monday, pointing that although the anonymity of bitcoin makes this a tricky task, it’s already possible to say whether certain bitcoin addresses are involved in mining, or have been associated with gambling transactions.
The platform wants to furnish information about cryptocurrency transactions by creating dedicated tools for the analysis of network and economic data. Other than institutional and governmental customers to pay for the data, developers are also targeted who can use its soon-to-launch API.
BlockTrail raised €500,000 ($669,310) in funding from BlockCorp, which was set up by Bechar and VKontakte co-founder Lev Leviev. BlockCorp intends to shell out further funding, once the product is out and needs so. The team includes developers from bitcoin data outfit Vircu, which BlockCorp recently picked up. Initially the free platform will only use publicly accessible information.
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(Image Credit: Jason Benjamin)