Signed a partnership between the Cambridge startup Blockchain and the British firm IHS, Markit, specializing in the analysis of data.
In partnership with Cambridge Blockchain will complement existing IHS Markit services aimed at the prevention of money laundering through crypto-currencies and compliance with the policy “Know your customer” (KYC). About this informed the head of Cambridge Blockchain Matt Commons.
Technology developed by a startup from Massachusetts, will interact with the platform KYC.com IHS Markit.
Two companies are interested in the effective application of the concept of distributed registries to work with the information that is necessary for compliance of “Know your customer” (KYC), which banks shall be collected in accordance with the law on combating money laundering.
The idea of the project is to provide customers with greater control over information.
Matt Commons said:
“We intend to continue our collaboration with IHS, Markit, to give financial institutions the assurance that their data regarding compliance with the rules “Know your customer” norms for combating money laundering, and tax, legal and other regulatory information is complete, accurate and relevant.”
IHS Markit has previously been engaged in the development of applications based on blockchain technology, as well as participated in tests conducted by Depository Trust and Clearing Corporation DTCC.