The Austria Wirtschaftsservice (AWS) is supporting Iknaio with 700,000 euros. This will allow the company to expand its services and advance tackling cybercrime.
Iknaio, a spin-off of the Complexity Science Hub, was founded two years ago. Since then, its mission has been to support security companies and government agencies with crypto asset forensics to make the overall handling of cryptocurrencies more secure.
“The role of science is to create breakthroughs. Through the cooperation of innovative startups like Iknaio and researchers of the Complexity Science Hub, we can achieve such in the field of crypto-crime,” says Stefan Thurner, President of the Complexity Science Hub.
NEW METHODS NEEDED TO UNDERSTAND DEFI
Bernhard Haslhofer, head of the Cryptofinance research group at the Complexity Science Hub, explains, “Decentralized Finance” (DeFi) stands for an entirely new type of complex financial services that are currently not adequately understood by decision-makers. Scientific research is needed to develop new methods to help us understand these services. With the spin-off Iknaio, we can bring these methods to product maturity and commercialize them to be used in practice eventually.”
AUTOMATING FORENSICS AND COMPLIANCE WORKFLOWS
Iknaio Cryptoasset Analytics GmbH focuses on automating forensics and compliance workflows within an organization. This reduces the workload of the customer’s forensic specialists and, at the same time, builds up a valuable database for further investigations. Their service complements the services of other companies in this field and helps to increase the efficiency and effectiveness of the entire industry.
At the core, it is based on GraphSense. This open-source body of the service was developed by the team around Bernhard Haslhofer and Ross King, two leading researchers in crypto asset analytics.
With expertise, innovative technology, and strong partnerships, Iknaio is well-equipped to take a leading position in Europe and offer high-quality crypto asset analytics services to customers from various industries. The company is committed to meeting the increasing demands of the crypto asset market. Here, they want to make a decisive contribution to curbing criminal activities in cryptocurrencies.
The strong partnership between Complexity Science Hub and Iknaio ensures the continuous scientific development of novel methods and tools, which will undoubtedly be needed in the future.
RELATED STORY:
Simply explained: Decentralized finance, blockchains and smart contracts
