Normal asset locates are obtained from the data sent to the "middle men" that process transactions. However, banks using blockchain cut out the middle men, and thus, those accounts are missed.
Blockchain transactions
If you haven't heard of blockchain, you are behind the times. You may not be using it personally, but chances are your bank and brokerage have already implemented this technology. At least 25% of US banks are already using blockchain for processing transactions. Blockchain is a digital ledger of transactions. We do not locate crypto accounts such as bitcoin or ethereum accounts. There are plenty of firms such as Elliptic, Chainalysis, and Skry that locate these types of crypto currency accounts. We do locate regular bank accounts that utilize the storage of digital information and code in blockchain that are impossible to locate with traditional bank locate methods.
What exactly can we track and how is that helpful to our clients? We don't track crypto currency, we track the ledger transactions from banks and brokerages using this technology to identify bank accounts for a specific customer. Below is a short list of financial institutions already using blockchain. Financial institutions that have already implemented this technology are using it for settlement and clearing of checks. If your current asset location company doesn't check the tracking points of the transaction, you will miss accounts held by these institutions. It is expected that four out of five banks will be using blockchain technology by 2019. To date, we are the only company that follows and compiles distributed ledger chains from blockchain. These are public and private ledgers of data which is time-stamped and linked to a previous block. We use the top banking blockchain vendors; Chain, Eris, Intel, and IBM on a continuing basis to build our database daily, and have been since 2014. Give us a call and see what you're missing from your current source.
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How can we do this and no one else can?
Crypto Tracking has stumped every asset location company out there... except us.
The reason is that if a company is just now trying to start tracking, it's not possible because of the way it has to be tracked. Blockchain tracking is not performed like a normal asset search. To locate bank accounts using blockchain, you have to collate the data since the first transaction on the platform that started it. We have the largest database in existence on multiple platforms including IBM, Chain, Eris, and Intel and started our transaction ledger in 2014. Banks using blockchain cut out the middle men, and thus, those bank accounts are missed.
No one else offers this, and they never can! Why? Because the only way is to start the required data ledgers is from the first block in the chain of transactions and follow the ledger sequentially. The chain can be easily tracked IF you hold the beginning transaction of blocks. Without the original ledger, you can't locate accounts. This technology has already advanced beyond everyone that did not start their ledger at the beginning of the software platform. If they held this data, they would have been offering this search long before now.
We learned early on that banks were headed in the blockchain direction for the future of transaction ledgers and jumped on the compiling of data in 2014. The first banks just started implementing it in 2016. 4 out of 5 banks will be using it by 2019. Blockchains, by their nature, are easily accessible to track when you hold the entire sequence of the ledgers. But you have to start at the beginning, you can't track it in the middle without the transaction code. No one can track blockchain ledgers used by the banks unless they hold the original ledger transaction or they know the exact transaction and algorithm used in the transaction. We hold everyone since 2014 and can parse this data quickly and easily.
Call us today to find how much you have been missing.
