Cloud computing platform Oasis Labs and cryptocurrency exchange Binance have announced the creation of the CryptoSafe Alliance. The new organization aims to combat fraud in the cryptocurrency space.
Today we’re very excited to announce that we’ve joined forces with @binance as an inaugural member and infrastructure provider of the new CryptoSafe Alliance — a decentralized way to bring together a global ecosystem of collaborators to combat fraud. //t.co/QL9PxZtaei pic.twitter.com/sGg5OVLuT9
— Oasis Labs (@OasisLabs) August 27, 2020
Oasis Labs will be the primary provider of CryptoSafe infrastructure. As part of the partnership, the companies will create a decentralized platform that employs Oasis Labs’ confidential smart contracts.
The platform will allow cryptocurrency exchanges to exchange data on potential threats.
Initially, the platform will be able to transfer information about transactions carried out in the blockchains of Bitcoin, Ethereum, Tron and EOS. More networks are planned to be added by the end of the year.
The platform will also create a “blacklist” of addresses that are related to illegal activities, including fraud, theft, extortion, and money laundering.
Binance CEO Changpeng Zhao has called on other crypto industry players to join the alliance.
Previously, analyst startup Chainalysis launched a partnership program with infrastructure providers to expand tools for tracking suspicious transactions on the blockchain