Dash joins hands with BlockchainIntel to promote adoption and provide compliance reporting for exchanges
In an attempt to increase the adoption of its crypto, Dash has partnered with a “transaction monitoring solutions for blockchains” company, BlockchainIntel. BlockchainIntel analyzes cryptocurrency transactions, along with addressing and risk-scoring them based on ‘evidence of possible nefarious activity.’
Dash will aid BlockchainIntel with respect to regulatory compliance for exchanges and other businesses, in order to increase its chances of integration. However, users have shown some aversion to ‘compliance’ as many have related it to censorship, something that the world of crypto does not stand for. However, there are many regulated exchanges and others that work on compliance already and BlockchainIntel will provide tools to exchanges in an attempt to be more comfortable with Dash.
The CEO of Dash Core Group, Ryan Taylor, said that his partnership would open the coin to integration opportunities on more exchanges, including the eToroX platform.
“We are committed to supporting exchange access for our users. We are happy that our partner BlockchainIntel can address new exchange reporting requirements aimed at preventing money laundering and fraud. Companies such as eToroX are able to list Dash because they can provide the information regulators need using BlockchainIntel.”
According to the CEO of BlockchainIntel, tools like the analyses of blockchain and risk-scoring are key to the mass adoption of cryptos as “risk-averse parties seek to shield themselves from fraud, theft, money laundering, and other illegal activities.” Considering the rising level of threat in the space, BlockchainIntel would provide data to users before opting for exchanges. However, that must not involve them breaching someone’s people’s privacy.
Dash’s performance in the market has recorded a rise over the past one year, with increased adoption and growing interest among the crypto-community. Dash also noted a growing popularity in Thailand over the last year, as at least 100 transactions are taking place per month in parts of Bangkok, Phuket, and other cities. Dash’s official travel partner, Travala, could benefit from the increasing demand of crypto in Thailand, an Asian country that is a vacation hub for many.
At press time, Dash was ranked 15th on CoinMarketCap, with a value of $107.92. The market cap of the coin was $964.65 million and noted a wavering bull and bear pattern in the market. However, at press time, Dash was falling by 0.24% within the hour.