The blockchain intelligence firm helping financial institutions and law enforcement agencies identify illicit activities in bitcoin transactions
Founders: Dr. Adam Joyce, Dr. James Smith and Dr. Tom Robinson
Founded: October 2013 (Launched January 2014)
Alongside the rapid evolution of digital currencies, Dr. Adam Joyce, Dr. James Smith and Dr. Tom Robinson saw the enormous role blockchain technology had to play in helping institutions identify illicit activities. A blockchain is the permanent public ledger of bitcoin transactions.
The three entrepreneurs founded Elliptic to give financial institutions and law enforcement confidence to enter into the relatively unknown world of digital currency transactions – enabling them to understand who their counterparty is, that they are protected from fraud and that they are complying with anti-money laundering laws. Elliptic sells its product directly to customers as a Software-as-a-Service (SaaS) model, as well as working on a consultancy basis.
Having recently closed a $5m Series A funding round led by Paladin Capital Group, Elliptic has embarked on a campaign of product and service development and expansion across the US. Providing an essential service in a still young market, the London-based company hopes to become the global benchmark in blockchain technology.