We at AnChain.AI—the AI-powered blockchain intelligence platform for security, risk, and compliance—are now using the Chainlink decentralized oracle network to supply AML intelligence data to the blockchain ecosystem. Thanks to the premier blockchain middleware solution Chainlink, and leading Chainlink ecosystem developer LinkPool who led the technical design and implementation, we are able to leverage our existing APIs to securely deliver AML intelligence directly to on-chain applications.
Developers within blockchain ecosystems are now able to access AnChain.AI’s high-quality AML data to support a range of smart contract use cases that utilize premium compliance data, including risk and sanction data for cryptocurrency wallets, exchanges, smart-contracts and applications across CeFi and DeFi.
By connecting with the most time-tested blockchain oracle solution, we are able to provide on-chain AML support via smart-contract connectivity. Smart-contracts have already consumed 3B+ data points through the Chainlink decentralized oracle network to date. Chainlink enables us to sync actionable AML intelligence data with a multitude of blockchains,including our layer-1 and layer-2 partners.
“High-quality compliance data is integral to the growth of the smart contract ecosystem,” stated Kate Lane, Marketplace and Data Partnerships Manager at Chainlink Labs. “By securely delivering compliance data on-chain via Chainlink decentralized oracle networks, AnChain.AI is able to help enhance the quality of compliance information available in the blockchain industry.”
With this new data connection, we establish a foundation for scaling industry demand for real-time AML and suspicious activity data, in accordance with the FATF and jurisdictional regulations for a risk-based approach to developing blockchain applications. Developers can take advantage of these smart contracts in order to build secure and compliant blockchain applications and services.
We chose to leverage Chainlink because it provides a multitude of critical features, such as:
- Credential Management — Chainlink nodes can securely manage API keys and account logins, leading to a seamless integration in which Chainlink nodes can purchase AnChain.AI API subscriptions in the same manner that traditional users do today.
- Blockchain Agnostic — Chainlink is blockchain agnostic, meaning our data can be made available on any current or future blockchain environment.
- Widely Adopted — Chainlink is the most widely used oracle network in the blockchain industry, offering us access to a vast addressable market of potential data consumers.
- Provably Secure — Chainlink is thoroughly audited open-source software designed according to leading academic research, and has a proven history of helping secure billions of dollars in value live in production.
“We’re excited to be supporting the growth of the smart contract economy by bringing high-quality AML intelligence data to blockchains through the Chainlink decentralized oracle network,” stated Victor Fang, co-founder and CEO of AnChain.AI. “By making this data available to smart contracts, we are bringing about a new standard for compliance and fraud prevention within the blockchain ecosystem.”
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.
AnChain.AI is an AI-powered cybersecurity company enhancing blockchain security, risk, and compliance strategies. AnChain.AI was founded in 2018 by cybersecurity and enterprise software veterans from FireEye and Mandiant. Backed by both Silicon Valley and Wall Street VCs, and selected in the Berkeley Blockchain Xcelerator, the company is trusted by 100+ customers from over 10+ countries in these sectors: VASPs, financial institutions, and government, including the U.S. SEC (Securities and Exchange Commission). Featured by CBS News, MIT Tech Review, Coindesk, and DEFCON, AnChain.AI’s AML engine screens over $1 billion in daily crypto transactions.