Thomas Silkjær

Head of Analytics & Compliance, XRP Ledger Foundation

Follow the Money

Abstract: How the XRP Ledger Foundation applies property graph databases to map blockchain activity to protect users from scams and counter money laundering.

This presentation will unravel the intricate relationship between compliance and the XRPL, showcasing the XRP Forensics initiative that has been integral to the XRPL ecosystem since 2018. Initially focusing on collecting account addresses associated with scams and thefts. The initiative now operates with a robust graph database, compiling comprehensive transaction and account history of the XRPL network. This expansive database includes vital information about VASP (Virtual Asset Service Provider) affiliations and records instances of illicit involvements, thereby empowering real-time monitoring of suspicious accounts and transactions.

Through visual examples, and insightful analysis, this presentation offers a deeper understanding of how property graph databases and proactive monitoring can revolutionize blockchain security. By showcasing the XRP Ledger Foundation’s commitment to enhancing transparency, thwarting illicit activities, and collaborating with the broader compliance and blockchain community, this discussion encourages a collective effort towards a safer and more regulated blockchain landscape.

Thomas believes that new technology can provide unique value and opportunity, but has a natural skepticism that new is not always better. He combines this with the urge to know why and how things work, and explores possibilities of analyzing and utilizing the connected data in blockchain, both visually and investigative. Thomas is Head of Analytics and Compliance at the XRP Ledger Foundation.