Arkham (ARKM) was CoinMarketCap’s most trending cryptocurrency on 20 July 2023. Hence, many people will ask what is Arkham and does it have value?
Arkham is a crypto intelligence platform that systematically analyzes and exposes blockchain transactions. They claim Arkham shows the people and organizations behind blockchain transactions. Thus, Arkham is a surveillance and tracking tool. Arkham uses Ultra, a proprietary artificial-intelligence powered algorithm to match addresses to users.
“By systematically linking blockchain addresses to real-world entities, and providing aggregate data and analytics that give a complete picture of their behavior, the Arkham White Paper claims. “Arkham reveals the activity driving digital asset markets, enabling market participants to outperform.”
There is no connection between Arkham and Batman. Geeks will know Arkham as the asylum where they keep Gotham City’s supervillians. Moreover, Arkham is a popular series of Batman video games.
A Solution for Monitoring Blockchain Activity
They claim Arkham can allow you to “see the people and companies behind blockchain activity.”
Thus Arkham is a big-data protocol that conducts blockchain surveillance. Privacy activists will hate this. However, there could be many lucrative uses for the data Arkham could gather.
For example, cybersecurity, intelligence agencies, law enforcement Know-Your-Customer (KYC) regulation compliance, and Anti-Money Laundering law compliance. Another lucrative use of Arkham can verify collateral and customer identifies for lending and credit purposes.
Deanonymization is destiny
They claim Arkham can allow you to “see the people and companies behind blockchain activity.”
Thus Arkham is a big-data protocol that conducts blockchain surveillance. Privacy activists will hate this. However, there could be many lucrative uses for the data Arkham could gather.
For example, cybersecurity, intelligence agencies, law enforcement Know-Your-Customer (KYC) regulation compliance, and Anti-Money Laundering law compliance. Another lucrative use of Arkham can verify collateral and customer identifies for lending and credit purposes.
Arkham arrogantly claims “Deanonymization is destiny.” To explain, deanonymization is the destruction of privacy and anonymity by exposing everybody’s identity.
Hence, a banker will know who is applying for a crypto loan and how much money that person has. Furthermore, the banker can verify the loan applicant’s residence, credit score, and legal status. Hence, a crypto bank can avoid legal problems and deter fraud.
One reason many financial institutions avoid crypto and DeFi is the fear of fraud. Lenders avoid crypto because they cannot verify users’ identities. Additionally, they cannot link bank balances or credit scores to blockchain users.
How Arkham Monetizes Data
To make Deanonymization a reality. Arkham collects data, then aggregates that data into a pool anybody can access. Then Arkham attributes that data to real-world identifiers and addresses. For example, tax and Social Security numbers or mailing addresses.
Data Arkham can aggregate can include transaction history, portfolio holdings, balance history, profit-and-loss statements, exchange usages, and top counterparties. The Core of Arkham’s platform the Profiler performs these functions.
The Profiler can visualize data and customize network analysis of addresses, entities, and counterparties. Then filter that data. The Profiler also creates private address labels, customizes transaction alerts for traders and speculators. Creates dashboards and archives. There is an application interface that allows developers to build Arkham into DeFi solutions.
For example, the profiler can create customizable alerts for any on-chain activity. Hence, a trader or speculator can get an alert whenever anybody buys a specific token.
What Value can Arkham (ARKM) offer?
Mr. Market gives Arkham (ARKM) some value. For example, CoinMarketCap named Arkham, the 258TH largest cryptocurrency, with an $88.935 million Market Capitalization on 23 July 2023.
CoinMarketCap also gave Arkham a $23.749 million 24-Hour Market Volume, a 59.25₵ Coin Price, and a $591.724 million Fully Diluted Market Capitalization on 23 July 2023. They base those numbers on a Circulating Supply of 150 million ARKM, and a Maximum Supply of 1 billion ARKM.
I think Arkham could make money because it can tap the growing market of Big Data Analytics. Fortune Business Insights valued the Global Big Data Analytics market at $271.83 billion in 2022. The Global Big Data Analytics Market could grow to $307.52 billion in 2023 and $745.15 billion by 2030, Fortune Business Insights forecasts.
Thus, there is a growing demand for Arkham’s product: blockchain data analytics. Moreover, I think financial institutions, governments, investors, funds, developers, tech companies, and speculators will pay for that data. The question we need to ask is: “how much will they pay for Arkham’s data?”
If you are seeking a DeFi protocol that can make money from Big Data. I think Arkham (AKHM) is worth a look.
*https://assets-global.website-files.com/62879326fd745f7489b43224/64abc4471879916bc4e2aeb0_Arkham_Whitepaper_FINAL.pdf
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