Chainalysis, one of the big players in the cryptocurrency security space, has announced plans to launch a risk mitigation software called Kryptos.
The idea behind this software is to give institutional investors an idea of the risks involved in cryptocurrency investments.
Kryptos risk mitigation software
The Kryptos risk mitigation software will be a tool to help investors determine the security and investment risks, which come along with cryptocurrencies.
While the market is unpredictable, Kryptos will aim to make it easier to understand. The main features of the software will include risk calculation tools and a set of informative cryptocurrency regulation guides.
According to Chainalysis Chief Strategy Officer Jonathan Levin, one of the main goals driving the creation of the Kryptos software is transparency in the cryptocurrency space. Mr. Levin also believes that Kryptos will serve as a learning mechanism for institutional investors.
Five years in and we welcome the latest addition to the @chainalysis product suite
Chainalysis Kryptos is the first cryptocurrency reference data source for Financial Institutions to understand the opportunities and risks in cryptocurrencieshttps://t.co/GfKKTqT2nm
— Jonylevin (@jony_levin) November 12, 2019
Kryptos launch
Ensuring data transparency is no small feat, which is why the Kryptos software is still in its initial development phase.
While institutional investors can already take advantage of the main tools Kryptos has to offer, the official release of the software is scheduled for 2020.
Currently, the Kryptos beta version is missing essential features, which will be introduced at some point next year.
However, for those curious to see what Kryptos has in store, the software is already available in test mode.
This new Chainalysis product is an excellent addition to the suite of services the company offers. Data analysis and transparency are critical factors for all successful investors, and the official launch of the Kryptos software can possibly lead to an increased interest in the cryptocurrency space, primarily from institutional investors.
