A crypto data analysis firm is investigating how digital assets may impact national security under a new contract with a U.S. Department of Defense agency.
Inca Digital says it will work on a project called “Mapping the Impact of Digital Financial Assets” for the Defense Advanced Research Projects Agency (DARPA).
[adinserter block="1"]Says Adam Zarazinski, CEO of Inca Digital,
“Digital asset markets hold amazing promise, but also contend with money laundering, market manipulation, and state actors that may pose risks to U.S. national security. Given the increasing prevalence of digital assets, the Department of Defense and other federal agencies need to have better tools to understand how digital assets operate and how to leverage their jurisdictional authority over digital asset markets globally.”
The company intends to develop a “first-of-its-kind” cryptocurrency mapping tool for “analyzing cross-market crypto-financial data and risk.”
The data analysis will help the government and commercial companies understand the impacts cryptocurrency may have on traditional financial systems, as well as provide insights into the use of blockchain-based technlogy linked to money laundering, terrorist financing or the evasion of sanctions. The project will also analyze the way money flows in and out of different blockchains, according to the company.
DARPA has previously researched blockchain technology, including how it could improve the security of transmitted messages.
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Alexander56891
