PwC Reveals Blockchain Analytics Tool For Tracking ICO Tokens

Major accounting firm, Pricewaterhouse Coopers (PwC), has announced that it is currently trialing a blockchain analytics tool designed to trade digital tokens from launch. PwC has stated that the software will assist companies in guarding against the misuse of their tokens for illicit purposes.

PwC and its Hong Kong forensic services partner, Eric Young, have indicated that the company seeks to capitalize a growing interest in raising funds through initial coin offerings (ICOs) among businesses in Asia’s manufacturing, technology, and retail sectors.

Analysts have inferred that PwC hopes to capitalize on the migration of many Asian cryptocurrency companies to Hong Kong and Singapore – owing the respective jurisdictions’ lack of prohibitive regulations regarding ICOs amid China’s intensifying cryptocurrency crackdown.