DARPA picks Inca Digital for its crypto project
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DARPA is funding Inca Digital’s research in a project that is expected to lead to an analytics tool that will help map crypto’s impact and threats to US national security.
The US Department of Defense’s Defense Advanced Research Projects Agency (DARPA) has contracted crypto data and analytics firm Inca Digital to help map the potential impact of digital assets on national security.
DARPA contracts with Inca Digital for crypto project
On Friday, Inca Digital revealed that DARPA, through the crypto firm’s government contractor Inca Digital Federal, had awarded it a contract to research and develop a cryptoanalytics and visualization tool to map the various impacts of crypto-financial applications.
More specifically, the agency’s cooperation with Inca Digital takes place a Phase II small business innovation research (SBIR), according to the contract announcement, and sees the company helping DARPA develop a “first-in-class” crypto mapping tool.
An advanced analytics tool is then used to analyze and understand the dynamics of crypto-finance and potential threats to national security.
“The promise of digital asset markets is incredible, but they also struggle with money laundering, market manipulation, and state actors that can pose risks to US national security.”, said Adam Zarazinski, CEO of Inca Digital.
DARPA, other US government agencies and commercial companies use data analytics provided by Inca Digital to gain insight into, among other things, how blockchain-based technologies relate to illicit activities such as money laundering, sanctions evasion and terrorist financing.
The tool also helps various regulatory groups and companies to understand money flows in the crypto ecosystem.
“Given the proliferation of digital assets, the Department of Defense and other federal agencies must have better tools to understand how digital assets work and how to exercise their jurisdiction over digital asset markets worldwide.Zarazinski added.
DARPA is funding a project called “Mapping the Impact of Digital Financial Assets”.