New Company to Provide Data on Bitcoin Blockchain?

The appeal of using bitcoin as a cryptocurrency has been mostly rooted in the blockchain, which is a sequential key or database attached to each transaction. It is seen as the main technological feature of bitcoin transactions, as each block is added in a linear fashion to the record of every exchange.
Just recently, a new company called Chainanalysis is claiming to provide financial institutions access to blockchain information, which might have repercussions on the anonymity and security of bitcoin usage. According to its website, the company will provide customers with access to an API that will enable them to identify which entity the transaction came from. With that, customers can be able to decide if they want to do business with the entity or not, depending on its reputation.

This post was published at NewsBTC on Mar 13, 2015.