Future of KYC Compliance | EP 16 - Dchained’s Edmund McCormack: How Blockchain Technology Can Help Advance AML and KYC Capabilities

Edmund McCormack is the founder of Dchained and has been in the crypto-blockchain space since 2011. From a starting point where lack of transparency was a fact, the industry has evolved now to a state where it’s extremely difficult to move money without being traced. How can we leverage blockchain, biometrics, and other types of technology to advance our AML and KYC capabilities? In today’s episode, Ed joined us to debunk a few myths around the role of cryptocurrencies in financial crime and to open the discussion on what blockchain technology can bring in to the fight against bad actors. Topics discussed in this episode: - How Ed came to the world of crypto and how the space was it like in 2011. - How law enforcement agencies are leveraging blockchains and their transactional nature. - What the future of cryptocurrency regulation is. - Biggest misconceptions associated with cryptocurrencies. - Obstacles to launder money in the crypto space. - The role of cybercrime and top areas of concern. - How bad actors exploit areas of weakness where the spotlight is not being shown. - How the regulatory landscape will progress and why it could start with stablecoins.