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- Inca Digital will collaborate with the U.S. Department of Defense Agency to examine the impact of digital assets.
- The so-called project is named as “Mapping the Impact of Digital Financial Assets”.
The Defense Advanced Research Projects Agency (DARPA) will research advanced methods for investigating activities related to financial applications of distributed ledgers with the government contracting division of Inca Digital, Inca Digital Federal. The phase-II Small Business Innovation Research (SBIR) contract basically aimed at the understanding and visualizing of digital assets with national security.
What Did The CEO of Inca Digital Say?
On September 23, 2022 the CEO of Inca Digital, Adam Zarazinski, said over the announcement “Digital asset markets hold amazing promise, but also contend with money laundering, market manipulation, and state actors that may pose risks to U.S. national security.
He additionally said “Given the increasing prevalence of digital assets, the Department of Defense and other federal agencies need to have better tools to understand how digital assets operate and how to leverage their jurisdictional authority over digital asset markets globally.”
Mapping Tool for Cryptocurrency Ecosystem
SBIR will develop a first-of-its cryptocurrency ecosystem mapping tool and examine the data and risk of cross-market crypto financial. The U.S. government and commercial companies will together provide insight into the use of blockchain-based technologies that may linked to money laundering, terrorist financing, and sanctions evasions across systems.
Additionally, this mapping tool will better understand the money flow in and out of the blockchain systems. The recipients can also identify about the exchange of their cryptocurrency with local fiat currency, or goods and services across the world.
It must be noted that Inca Digital and Inca Digital Federal will examine data across crypto markets, blockchains, and news and social media to deliver comprehensive intelligence to the financial institutions, technology firms and government entities.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
