According to cointelegraph, a blockchain data platform has been selected the winner of the Commodity Futures Trading Commission’s first science competition, offering yet another compelling sign that distributed ledger technology has burst onto the mainstream.
Nakamoto Terminal, a digital asset analytics platform built by Inca Digital, an open-source intelligence company, has won the CFTC’s Project Streetlamp competition. Nakamoto Terminal was also named “Innovator of the Year” by the CFTC for its successful submission.
In an official statement, LabCFTC director and chief innovation officer Melissa Netram mentioned:
“The CFTC is pleased to recognize NTerminal as our first Innovator of the Year. Their development of an AI tool that automates the identification process of unregistered foreign entities not only helps the Commission but also will ultimately help investors make more informed decisions.”
LabCFTC Senior Counsel Brian Trackman added,
“Prize competitions like Project Streetlamp can be a useful tool to support responsible innovation. It’s great to see the success of this inaugural contest.”
As reported by cftc.gov, the Project Streetlamp competition challenged innovators to come up with an artificial intelligence solution that could help the CFTC automate the process of identifying and adding unregistered foreign entities to its Registration Deficient (RED) List. The RED List was built in 2015 to help consumers make informed decisions about whether to exchange through such entities.
Inca Digital, was founded by former INTERPOL analysts who have created natural language processors to track individuals and companies, monitor traditional and social media and scan global regulatory edicts.
At this time, the CFTC uses Nakamoto Terminal’s technology for market surveillance, investigations, and litigation support, technical, blockchain, and natural language data.