On April 12th, the first Hong Kong International Innovation and Technology Exhibition (InnoEX) sponsored by the Hong Kong Special Administrative Region Government and the Hong Kong Trade Development Council opened at the Hong Kong Convention and Exhibition Center. Okey Cloud Chain (01499.HK), as the world's leading Web3 technology company, was invited to participate in the exhibition .
Hong Kong International Innovation and Technology Exhibition Site Map
At this innovation and technology exhibition, Oukey Cloud Chain demonstrated to the public a series of products and services based on the application of "blockchain + big data + artificial intelligence" technology in multiple fields. Among them, the latest Onchain AML integration The solution has become the focus of attention on the spot. The Hong Kong Ta Kung Pao, which is in charge of the Central Propaganda Department and the Liaison Office of the Central Committee of the Communist Party of China, also made a special report on Okey Cloud Chain.
The following is a summary of the report, and the source of the content is Hong Kong Dagong.com
Since Hong Kong issued a policy declaration on the development of virtual assets in October last year, until February this year, the Hong Kong Securities Regulatory Commission issued a "Consultation Document" on cryptocurrency transactions. On April 11, Hong Kong Chief Executive Li Jiachao delivered a speech at the inauguration ceremony of the Hong Kong Web 3.0 Association. The development of Web3.0 is now at the golden starting point. This disruptive technology can change many original business operation models and create more new opportunities. A series of voices revealed that Hong Kong is actively responding to the booming market of virtual asset trading.
Onchain AML service encryption asset compliance and risk prevention and control
Regarding the policies and voices released by the Hong Kong government that are favorable to the development of Web3, leading Web3 companies and people in the industry have expressed optimism about the prospect of development in Hong Kong. Talking about the development plan of Okey Cloud Chain in Hong Kong, Xiao Shiqi introduced: "On February 20 this year, the Hong Kong Securities Regulatory Commission issued the "Consultation Document" on cryptocurrency transactions, which will 'know your customers' and 'fight against money laundering/terrorists'. "Fund raising" is listed as one of the key regulations, and Appendix B and Appendix C are clear guidelines on KYC/AML. In the foreseeable future, KYC/AML services will become a rigid demand for compliance trading platforms in Hong Kong. " He It is believed that this is full of opportunities and challenges for the internationalization of OKLink's business, and the company is confident to become the world's first blockchain big data comprehensive capability service provider.
Under the continuous policy support of the Hong Kong Special Administrative Region Government for financial innovation and digital economy, as one of the very few technology companies in China that pays attention to and deeply cultivates the data track on the chain, it is also the first blockchain data company listed on the Hong Kong Stock Exchange. Through years of on-chain data analysis experience and practical experience in cooperating with mainland law enforcement agencies with regulatory technology solutions, identify, evaluate and control/track potential risks in virtual asset transactions and usage, and help institutions and investors protect their transactions. Legality, compliance, and security when using virtual assets.
Xiao Shiqi revealed that based on the business of Okey Cloud Chain, in response to the "Consultation Document", the company also submitted suggestions on the "Consultation Document" to the relevant departments in Hong Kong to help the development of Hong Kong's industry. In the future, the company will continue to strengthen technological innovation in the field of blockchain big data, increase investment in blockchain-based financial technology-related fields, and actively participate in the formulation of industry standards to help the healthy and safe development of the industry.
Continuous innovation and breakthrough, the core technology of Okey Cloud Chain helps the industry to develop in compliance
In this exhibition, OKLink showed a series of products and services to the public. When talking about specific products, OKLink (01499.HK) OKLink Product Director Xiao Shiqi introduced that the OKLink blockchain browser was launched in 2019. From the very beginning, Okey Cloud Chain has been improving product service capabilities around user needs according to market changes, meeting the rich and diverse data needs of blockchain ecological users, and continuously expanding relevant market data. As the industry's leading one-stop on-chain tool service provider , Okey Cloud Chain not only has basic on-chain data analysis services, but also launched the on-chain data monitoring and transaction behavior visualization tool "Chain Sky Eye". While providing users with anti-money laundering functions such as on-chain transaction traceability, blockchain address relationship analysis, and on-chain fund flow tracking, it also provides commercial functions such as on-chain address basic data query, address tag library, and address portrait. Effectively assist the regulatory authorities to track behaviors on the chain, thereby promoting the development of the entire Web3 industry based on the blockchain.
The picture comes from the Internet
In addition, as Hong Kong is about to fully open the legal trading of virtual currency in June 2023, under the new system, the requirements of virtual asset exchanges in terms of anti-money laundering, anti-terrorism financing and investor protection are consistent with those currently applicable to traditional financial institutions. unanimous. Okey Cloud Chain also uses technological means to help international supervision of anti-money laundering (AML) .
Xiao Shiqi said that the new system will lead virtual asset transactions in the direction of compliance and legitimacy, and the company firmly believes that compliance will become a must for the healthy development of the industry. With the good development momentum of blockchain and Web3 in Hong Kong and compliance supervision, domestic platforms that can help individuals, projects, exchanges, and even governments in the field of virtual assets and Web3 with fraud monitoring, on-chain data analysis, and compliance monitoring will become Usher in new development opportunities.
Overseas, such as the United States, a number of leading blockchain data tracking platforms such as Chainalysis, CipherTrace, and TRM Labs have emerged in the context of compliance management. In the United Kingdom, which is relatively open but cautious to the virtual asset industry, there are also leading compliance risk management platforms such as Elliptic.
Among them, Chainalysis has achieved considerable development by providing services such as compliance transaction monitoring tools, risk identification services, and on-chain investigations for enterprises, security agencies, banks, and governments.
On April 6, the U.S. Department of the Treasury released the 2023 DeFi Illegal Financial Risk Assessment, which analyzes decentralized financial (DeFi) services and their vulnerability to "illegal activities." The assessment found that “cybercriminals, ransomware attackers, scammers and North Korean hackers” are using DeFi services to launder money due to “non-compliance” with anti-money laundering (AML) and countering the financing of terrorism (CFT) regulations.
Due to the characteristics of virtual assets such as decentralization, anonymity, and borderlessness , the supervision of virtual assets is a difficult problem faced by governments of various countries, which also means that the industry needs smarter technological solutions to give answers.
Xiao Shiqi believes that there is no need to worry too much. Compared with other types of assets, virtual assets, as an alternative asset based on blockchain technology, can use technological means to assist in supervision. Taking Okey Cloud Chain products as an example, by analyzing these chain behaviors, a huge black and gray address tag library can be established to support one-stop query and analysis of transaction records on mainstream multinational blockchains. Law enforcement agencies and anti-corruption Money laundering institutions can quickly correspond to off-chain entities with on-chain addresses, and conduct related investigations, evidence collection, and tracking.
At this innovation and technology exhibition, Okey Cloud Chain also brought the latest Onchain AML integrated solution , overlooking the Web3 industry from a regulatory perspective, which can help encrypted asset compliance and risk prevention and control. Through panoramic compliance analysis, chain security detection, situation awareness early warning monitoring, data model and label, commercial data analysis and industry trends, 30+ mainstream public chains and 2 million+ project full analysis and other six core capabilities, help Industry compliance, safety and healthy development.