Why do we need Scorechain?

As a crypto company or Web3 application developer, incorporating Scorechain into your development process is vital for safeguarding your platform against fraud and ensuring regulatory compliance. Crypto transactions, by nature, can obscure the origins of funds, making platforms susceptible to misuse for money laundering or funding illicit activities. Scorechain provides a robust set of tools that analyze and trace the history and connections of blockchain transactions.

By integrating Scorechain’s API, you can automatically screen all transactions on your platform for potential risks. This not only helps in identifying high-risk addresses or suspicious transaction patterns but also enhances your platform’s trustworthiness among users and investors by demonstrating a commitment to security and legal compliance.

Moreover, regulatory landscapes in the crypto world are rapidly evolving. Using Scorechain helps you stay ahead by ensuring that your application adheres to Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulations across different jurisdictions. Essentially, Scorechain acts as a safeguard, mitigating potential legal risks and protecting your reputation, which is crucial for long-term success in the blockchain space.