Pentagon contracts with Inca Digital for security focused digital asset mapping tool
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Digital asset data analytics company Inca Digital will study the national security implications of digital assets under a yearlong contract with the Defense Advanced Research Projects Agency (DARPA), the company announced Friday. DARPA is the research and development arm of the US Department of Defense.
Inca Digital is working on the “Mapping the Impact of Digital Financial Assets” project, which aims to create a “cryptocurrency ecosystem mapping tool” to inform the US government and commercial companies.
In addition to potential money laundering and sanctions evasion, the project helps understand the interaction between traditional and digital financial systems, money flows into and out of blockchain systems, and other uses of cryptocurrencies for US government concerns. Inca Digital CEO Adam Zarazinsky said in a press release:
“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.”
DARPA program director Mark Flood told The Washington Post: “DARPA is not involved in the surveillance. I stress that we are careful in this research not to interfere with personally identifiable information.”
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DARPA has been investigating blockchain technology for several years, both for its security implications and as a potential tool for its own purposes. In June, it partnered with Trail of Bits to analyze the degree of blockchain decentralization and identify their vulnerabilities.
Inca received a phase II small business innovation study for the project. The company is the developer of Nakamoto Terminal, a system used by the US Commodity Futures Trading Commission for market surveillance. It was founded by former Interpol analysts in 2009.