PwC Reveals Blockchain Analytics Tool For Tracking ICO Tokens
Major accounting firm, Pricewaterhouse Coopers (PwC), has announced that it is currently trialing a blockchain analytics tool designed to trade digital tokens from launch. PwC has stated that the software will assist companies in guarding against the misuse of their tokens for illicit purposes.
Pricewaterhouse Coopers Tests New Blockchain Analytics Software
Analysts have inferred that PwC hopes to capitalize on the migration of many Asian cryptocurrency companies to Hong Kong and Singapore – owing the respective jurisdictions' lack of prohibitive regulations regarding ICOs amid China's intensifying cryptocurrency crackdown.
Tool to Enable ICO Issuers to Track Token Circulations
'With artificial intelligence built into our back engine, our solutions would enable clients to better predict which jurisdictions the digital token could potentially be circulated to. Depending on the type of company and the type of business it is engaged in, it could then apply a high-risk score to that particular jurisdiction,' he added.
Pricewaterhouse Coopers Works With ICO Industry
In November of last year, PwC's Hong Kong Office revealed that it had accepted bitcoin in exchange for consultancy services.
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