Chainalysis to discuss blockchain risks, opportunities and compliance at Gitex Global

Chainalysis, the blockchain data platform has announced its plans to participate at Gitex Global 2022, taking place in Dubai from October 10-14.

Through a series of panel and keynote discussions, the company will use the event to raise awareness and educate attendees on some of the most pressing challenges and opportunities that cryptocurrencies, decentralised finance (DeFi) and other Web3 technologies hold for the region.

Visitors to the Chainalysis stand can experience live demos of Chainalysis Storyline, its Web3-native blockchain analysis tool, designed to visualise smart contract transactions, including DeFi and non-fungible tokens.

With funds stolen from DeFi protocols accounting for 96 per cent of the $2.28bn worth of cryptocurrency stolen in security breaches and code exploits so far this year, Chainalysis Storyline solves a pressing need, and paves the way for building consumer confidence and trust in the underlying technology. With this solution, regulators and law enforcement agencies can get a holistic view of the movements of funds as they are transacted across blockchains, and pinpoint transactions and funds that matter the most to them.

“As our co-founder Jonathan Levin rightly pointed out during his visit to the region earlier this year, the UAE has the opportunity to be a model for other nations when it comes to establishing a crypto hub. Since this is still a fairly nascent space, the realisation of this ambition will require a major focus on regulation, built on a deep understanding of the underlying blockchain technology,” said Bas Lemmens, general manager International, Chainalysis.

“Given the work we are doing with governments across the globe, over the course of the five days at the Gitex Global, we will focus on educating all stakeholders — from government entities and private sector organisations, to everyday consumers — on the fundamentals of blockchain technology.”

“Backed by strong government support, the region has arguably one of the most dynamic and fast-growing crypto economies, globally. Whether it be via our recent MoU with the UAE government to train public sector employees, or by providing our technology to private sector entities looking to build crypto hubs, we are committed to offering tools that can help shape the digital future of the region. We are excited about the opportunity to showcase our expertise and technology at Gitex Global, and look forward to furthering our relationships with key regional stakeholders,” concluded Lemmens.

Chainalysis will also participate in two key panel discussions hosted by the organisers of the Future Blockchain Summit, which will take place on the side-lines of Gitex Global.

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