Chainalysis partners with Calgary’s police department to launch the Western Canada Cryptocurrency Investigations Centre.
Takeaway Points
- Chainalysis announced that they have partnered with Calgary’s Police Service to launch the Western Canada Cryptocurrency Investigations Centre.
- The aim of the launch is to help increase trust in digital assets and fight cybercrime that uses blockchain technology.
- The blockchain data firm said that their research has shown that since 2019, there has been an increase in the adoption and usage of cryptocurrencies and digital assets in Canada.
Chainalysis Partners With Calgary’s Police Service
The blockchain data firm Chainalysis, announced on Wednesday that they are partnering with the Calgary Police Service to launch the Western Canada Cryptocurrency Investigations Centre. According to the report, the aim of the launch is to help increase trust in digital assets by fighting cybercrimes that use blockchain technology through the crypto investigation centre.
Chief Constable Mark Neufeld of the Calgary Police Service said in a comment that cyber has become a component of criminal activity, and with this partnership they hope to strengthen cybersecurity and safety among residents of Calgary, Alberta, and Canada.
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“Cyber is quickly becoming a component of criminal activity, and often requires collaboration between law enforcement and other expert industries,” said Mark
He further added, “We are thrilled to be part of an innovative partnership with Chainalysis where cybersecurity expertise is shared amongst the Calgary Police Service and private enterprise. This unique partnership will help strengthen cybersecurity and safety among residents of Calgary, Alberta, and Canada.”
Officer Gurvais Grigg, Chainalysis Public Sector Chief Technology, said that the partnership will provide an opportunity to democratize the world-class expertise in crypto investigations at the CPS across western Canada.
“This partnership is an incredible opportunity to democratize the world-class expertise in crypto investigations at the Calgary Police Service across Western Canada. The entire CPS team has been fantastic partners in our work to build trust in digital assets, and this expanded structure allows them to better protect more Canadians from crypto crime. We could not be more thrilled to launch this innovative centre and look forward to working closely with law enforcement agencies across the region.” Said Gurvais.
Chainalysis Cofounder and Chief Strategy Officer Jonathan Levin said “This demonstration of public-private partnership to solve novel issues in financial services is a model that the rest of the world can learn from.”
He further added that “Not only is this a great moment for Western Canada, but it is a first step in our work to enable law enforcement partners across the world to protect their constituents, and in turn, help build trust in blockchain technology.”
Why the Crypto Investigation Centre Was Formed
According to Chainalysis, their research has shown that since 2019, there has been an increase in the adoption and usage of cryptocurrencies and digital assets in Canada. They also said that last year, Canada ranked 22nd in their Global Crypto Adoption Index, and looking at Canadian engagement with crypto ATMs, decentralized exchanges, and centralized exchanges, we see that Canada has experienced a nearly 213% increase since 2019 as of January 2023, with a peak level of adoption around 865% greater than March 2019 in May of 2021, driven largely by interest in DeFi.
With the increase in crypto adoption in Canada, there has been an increase in criminal activity, and Canadians have lost their money to malicious actors who use crypto as a means of fraud, scams, and crime, and the climate is ripe for investment in greater law enforcement measures to protect Canadians. Through this industry-defining and world-leading partnership, the Calgary Police Service will continue its efforts to fight crime and democratize its investigative capabilities across the region.
