At its core, Chainalysis is a data company with a dataset that maps the global cryptocurrency ecosystem, providing unparalleled insights into legitimate and illicit flows across blockchains. Our data sets the benchmark for blockchain intelligence, trusted across the public and private sectors for investigations, compliance and security. We are known for the insights we reveal about the crypto economy and illicit activities, and our long-term vision is to harness the power of this data for our clients’ missions and business needs.
Today marks a major milestone in this vision with the launch of Workflows for Data Solutions. A year ago, we quietly rolled out access to Data Solutions (DS) to users – primarily technical data experts in sophisticated organizations – so they could query our data to detect bad actors in their areas of responsibility (AOR) and automate their workflows. After encouraging feedback from these power users, we are now making these features accessible to non-technical users. With Workflows, we aim to give every Chainalysis user the superpowers of an expert data scientist: the ability to uncover mission-relevant threat intelligence and automate complex workflows without writing a single line of code.
Automated threat detection is here
Proactive threat detection is one of the biggest promises of a more transparent blockchain-based financial system. Investigating an illicit crypto transaction can reveal an entire network of bad actors. Understanding the on-chain fingerprint of an illicit group can lead to the discovery of previously unknown activity. Until now, this work was entirely manual and time-consuming. But as Coinbase demonstrated during their recent fentanyl sprint, Chainalysis DS has helped them map and disrupt complex criminal ecosystems. Workflows in DS extend this type of work by automating repeatable steps and surfacing relevant on-line information for any investigator. This automation reduces manual efforts, saves time, and ultimately helps teams become more proactive, efficient, and strategic in how they detect and neutralize threats.
How Workflows Work
Workflows in DS provides interactive, no-code experiences that guide users through advanced blockchain analysis with a simple fill-in-the-blank-style interface. Users can now perform complex analytical tasks in just a few clicks, without writing SQL or Python code.
Techniques that previously required the assistance of specialized technical experts can now be executed through intuitive, guided workflows, transforming hours or days of work into moments with actionable insights.
Technical users can still maintain full access to SQL and Python whenever they want, while non-technical users benefit from unprecedented analytical independence. Entire organizations evolve faster, together.
We’re launching with some powerful workflows, including:
- Analysis of timing and amount: Refine a service’s likely deposit/withdrawal matches to help you more quickly identify the transactions you’re interested in.
- Expansion of the threat actor network via analysis of mutual counterparties: Discover counterparties shared by hundreds of threat actors in just a few clicks instead of manually sorting through thousands of counterparties.
- Targeted search for portfolios and clusters: Find wallets that match the precise fingerprints of threat actors using a number of filters, including exposure, transactional activity, and service characteristics.
The future of workflows
We plan to expand to hundreds of no-code workflows over time. These mini apps will allow users to automate even their most complex tasks. We prioritize the results that matter most to our customers, for example:
- Threat detection: Proactively disrupt sophisticated threat actors by modeling their precise fingerprints and monitoring them
- Ecosystem-wide views: inform the operational strategy with a global vision of any threatened area or ecosystem
- Mass enrichment: enrich any data set you have with Chainalysis intelligence, whether for tax, regulatory, compliance or investigative purposes
- Business Outlook: collect actionable insights about any token or particular type of on-chain activity
Learn more in-depth examples of how public and private sector organizations can benefit from workflows today and in the future here.
Our vision for Data Solutions is to give every Chainalysis user the superpowers of a data scientist. This vision is based on two pillars: Workflows and AI. Workflows are the building blocks of the most common analytical tasks; In the near future, our customers will be able to use AI to orchestrate and combine individual workflows, which will automate any complex task end-to-end. We believe this integration of workflows and AI represents the future of blockchain intelligence and automation.
