Nigma Conseil – France-based cybersecurity firm – has reportedly entered a partnership with the Austrian Institute of Technology (AIT), to jointly design a blockchain-powered solution for forensics. 

Specifically, the new tool – dubbed “e-Nigma” – is a solution particularly built to carry out due and persistent investigating efforts, in compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulation. The tool, which possess similar functions with other tools of the same type, looks to provide managing and organizing for blockchain transactions.

The new tool reportedly comes with a wide array of cutting-edge upgrades, nominally risk scoring and wallet clustering. It has the ability to single out addresses with real-life identities, via scanning both on normal and dark web. 

The new solution will be based upon the foundation, laid out by AIT-developed, open-source digital coins forensics platform – GraphSense. 

GraphSense is one of many projects within the scope of the TITANIUM initiative – headed by AIT, established to look closely into transactions in “underground markets”. The program has attracted 5 million euro ($5.4 million) of investment from the EU, to alleviate crypto-related crime. 

“The synergy between a leading European academic research institute and our team of developers has been instrumental in implementing the most innovative tools to fight financial crime in virtual currencies.” Fabien Tabarly – head of NIGMA Conseil – shared his remarks regarding the development.