Miguel Morel, CEO of Arkham Intelligence, a data analytics company, answered questions from users regarding the newly launched Intel Exchange platform. He confirmed that the platform encourages users to disclose account information in order to receive rewards.
As reported by AZCoin News on July 10, Binance announced Arkham as the 32nd project on its launchpad platform. The project quickly caught the attention of the community as Arkham Intelligence is a familiar name in the industry, specializing in providing on-chain data in the cryptocurrency market. According to the announcement, Arkham will provide $2.5 million worth of ARKM tokens to users on the platform. Each person is allowed to purchase a maximum of 300,000 ARKM tokens (equivalent to $15,000). The amount of ARKM tokens a user receives will depend on the amount of BNB they hold from July 11 to July 17.
In addition, Arkham announced the Intel Exchange, a protocol that allows users to earn money from blockchain data through a bounty mechanism connecting buyers and sellers. However, many have expressed concerns about the risk of violating personal privacy. When asked whether Arkham Intel Exchange encourages users to disclose personal identification information for certain cryptocurrency wallets, Morel affirmed that this is the platform’s goal. He believes that this information will help users report to authorities or alert the community when fraudulent activities occur.
“Identification information should be able to prevent fraud cases and major crises in crypto, such as the collapse of FTX and Alameda.” Miguel Morel, CEO of Arkham.
Arkham built Intel Exchange to identify the wallet addresses of hedge funds or uncover impersonators of famous accounts. To limit platform abuse, Morel stated that Arkham needs to verify that users have obtained information through public sources.
If the information is related to hacking incidents or has value to the community, Intel will approve and reward accordingly. On the other hand, Intel does not encourage submitting data on individual small wallets.
Some participants in Twitter Spaces expressed concerns that their information could be disclosed and used for fraudulent purposes. Ran Neuner, CEO of Onchain Capital, mentioned that individuals with access to KYC data, such as exchange staff, could exploit the user base to earn rewards.
“The issue is not with the Arkham Intel Exchange system. The issue is how the company will manage the data.” Ran Neuner
Meanwhile, identity is the key to Arkham’s vision. In the whitepaper, the company reveals its goal of linking Web3 identities with blockchain interactions. “Abandoning anonymity is essential. In the early days of the Internet, everyone had a nickname. Now, they use their real identities online,” stated Arkham Intelligence.
The project references the transition from MySpace to Facebook, where users gradually moved from one social network to another. Arkham believes a similar process is occurring with blockchain identities, with the rise of NFT profile pictures and ENS. According to the project, users’ blockchain identities will be linked to their real-world identities.
Source: https://azcoinnews.com/arkham-intelligence-ceo-responds-to-criticism-surrounding-their-actions.html
