(TheNewswire)
Vancouver, Canada / TheNewswire / January 11, 2018 - BIG Blockchain Intelligence Group Inc. (CSE:BIGG) (OTC:BBKCF) (WKN:A2JSKG) (“BIG” or the “Company”),
a developer of Blockchain technology search and data analytics solutions, is pleased to provide an insider perspective on the
emerging mass media notion that Cryptocurrencies, such as Bitcoin, are not secure, or are less secure than fiat (“paper”) money. As
Cryptocurrencies become increasingly mainstream in use and demand, the RegTech (regulatory technology) and FinTech (financial
technology) sectors require an accurate picture of the inherent risks associated with Cryptocurrencies, and how to mitigate those
risks.
Frequent news stories about money laundering contribute to the common perspective that Cryptocurrencies lack
security. By way of example, the January 2018 story of the US government receiving approval to auction off 513 Bitcoin and 512
Bitcoin Cash, currently valued at around $8.5 million; the cryptocurrency assets were seized from an investigation involving drug
trafficking and conspiracy to commit money laundering (source: ccn.com).
News stories of hacking have also contributed to the perception of Cryptocurrencies lacking security. Examples
from 2017 alone included: the cryptocurrency exchange EtherDelta being hacked and suffering the loss of “tremendous amounts of
wealth”; the Korean exchange Youbit filing for bankruptcy and closing after being hacked twice that year; crypto-mining marketplace
NiceHash reportedly losing tens of millions of dollars from an attack in 2017; and Tether, a start-up that works with exchanges,
reportedly losing $31 million toward the end of the year. This trend is likely to continue in 2018.
Former Supervisory Special Agent Robert Whitaker, BIG's recently appointed Director of Forensics and
Investigations commented: “ In the face of these news reports, it’s understandable to think of
Cryptocurrencies as less secure and riskier than fiat currencies . But the reality is that
Cryptocurrencies are far more trackable than paper money. ”
Lance Morginn, CEO of BIG, stated, “ When it comes to managing the risks associated
with Cryptocurrencies like Bitcoin, as long as RegTech and FinTech entities have the right tools, they can confidently take part in
the rapidly growing world of Cryptocurrencies which is currently valued at over three-quarters of a trillion dollars.
” (source: coinmarketcap.com as of Jan. 8, 2017: 1,387 Cryptocurrencies totaling ~$755B market cap).
By embracing Cryptocurrencies and their enhanced ability to expose up-front what is traceable, the RegTech and
FinTech sectors can gain an advantage over criminal activities such as money laundering. “ Cryptocurrencies
get stolen, but so do fiat currencies ,” added Lance Morginn, “ so we can actually welcome
Cryptocurrencies as a system that offers greater potential for tracing, tracking, and transaction risk assessment
.”
BIG’s all-in-one suite of tools integrate to trace, track and monitor transaction details across all types of
financial applications and efforts, from KYC (Know Your Customer) efforts involving identifying and verifying the identity of
clients, to AML (Anti-Money Laundering) activities, to targeted functions such as enabling the calculating and assessment of
capital gains on cryptocurrency trades. BIG developed its proprietary flagship product, QLUE™ (Qualitative Law Enforcement Unified
Edge), to enable the RegTech and FinTech sectors to mitigate cryptocurrency transaction risks by following the “virtual” money
involved. The Company’s BitRank ® technology, meanwhile, assesses and scores cryptocurrency transaction
details to provide a user-friendly scaled security rating for each transaction.
On behalf of the Board of Directors,
“Lance Morginn”
Lance Morginn
CEO, Director & Co-founder
direct: 1-778-819-8702
email: lance@blockchaingroup.io
About BIG Blockchain Intelligence Group Inc.:
BIG Blockchain Intelligence Group Inc. (“BIG”), has developed from the ground up a Blockchain agnostic
search and analytics engine allowing RegTech, Law Enforcement & Government Agencies to trace, track and monitor cryptocurrency
transactions at a forensic level. Our commercial product, BitRank Verified ® , offers a “risk score” for
bitcoin wallets allowing banks, exchanges and eCommerce sites to meet traditional regulatory/compliance requirements.
For more information and to register to BIG’s mailing list, please visit our website at www.blockchaingroup.io . Follow @blocksearch on Twitter . Or visit SEDAR at www.sedar.com.
Forward-Looking Statements:
Certain information set forth in this news release may contain forward-looking statements that
involve substantial known and unknown risks and uncertainties. By their nature, forward-looking statements involve numerous
assumptions, known and unknown risks and uncertainties, both general and specific that contribute to the possibility that the
predictions, estimates, forecasts, projections and other forward-looking statements will not occur. Many of these risks and
uncertainties are beyond the control of the Company, including but not limited to, the future business operations of BIG. Important
factors that could cause actual results to differ materially from BIG’s expectations include, consumer sentiment towards BIG’s
products and Blockchain technology generally, technology failures, competition, and failure of counterparties to perform their
contractual obligations. Readers are cautioned that the assumptions used in the preparation of such
information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance
should not be placed on forward-looking statements. Forward-looking statements contained in this news release are expressly
qualified by this cautionary statement. The forward-looking statements contained in the news release are made as of the date of
this news release, and the Company does not undertake any obligations to update publicly or to revise any of the included
forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly
required by applicable securities law.
The CSE does not accept responsibility for the adequacy or accuracy of this
release.
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