Blockchain
Dow Jones Has a Blockchain-Based Product for Fighting Fraud and Staying Compliant
EastNets and Dow Jones Risk & Compliance’s new blockchain-based solution helps users overcome risks associated with manual watchlist updates
EastNets and Dow Jones Risk & Compliance’s new blockchain-based solution helps users overcome risks associated with manual watchlist updates
Dow Jones Risk & Compliance has teamed up with a company called EastNets to build a real-time blockchain-based watchlist feed. This watchlist identifies high-risk third parties for business deals and helps maintain a business’s regulatory compliance. This blockchain-based product currently lets users solve problems associated with manually updating these watchlists and protecting data from cyber criminals.
Deya Innab, chief strategy and product officer for EastNets, said:
“Designing and testing a suitable solution was challenging, but we are delighted to lead the industry with a real-time, secure watchlist update solution that is actively used by leading institutions that now meet their compliance obligations every minute of the day.”
Although the announcement did not reveal which institutions already use this blockchain-based watchlist, Dow Jones’s risk management and compliance arm has already gained traction among major companies like Deutsche Bank, Barron’s, and The Wall Street Journal.
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