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A blockchain data platform has been selected as the winner of the Commodity Futures Trading Commission’s first science competition, offering another compelling sign that distributed ledger technology has become popular.
Nakamoto Terminal, a digital asset analysis platform created by open source intelligence firm Inca Digital, won the CFTC’s “Project Streetlamp” competition. Nakamoto Terminal was also named “Innovator of the Year” by the CFTC for its successful submission.
The Streetlamp project The competition challenged innovators to find an artificial intelligence solution that could help the CFTC “automate the process of identifying and adding unregistered foreign entities” to its registration deficit list. The RED List was created in 2015 to help consumers make informed decisions about whether to invest through these entities.
Since 2015, hundreds of companies have been included in the RED List.
In an official statement, LabCFTC director and chief innovation officer Melissa Netram said:
“The CFTC is delighted to recognize NTerminal as our first innovator of the year. […] Their development of an artificial intelligence tool that automates the process of identifying unregistered foreign entities not only helps the Commission, but will ultimately also help investors make more informed decisions. “
Nakamoto Terminal’s winning bid automates in-depth metadata searches and aggregates them to determine if a company should be on the RED List.
CFTC regulators already use Nakamoto Terminal’s technology for market surveillance and dispute support. Inca Digital, the company behind the platform, was founded by former INTERPOL analysts who created natural language processors to track individuals and companies, monitor media, and analyze global regulatory edicts.
The Nakamoto terminal is named after Satoshi Nakamoto, the pseudonymous creator of Bitcoin (BTC). The person or entity behind the pseudonym developed Bitcoin, wrote the Bitcoin white paper, and developed the first blockchain database before essentially disappearing.
