The blockchain industry always boasts itself in transparency. Each transaction in a public blockchain is permanently recorded, which is seen by anyone with an Internet connection.
However, with billions -billions of transactions and hundreds of millions of wallet addresses, the thin size of that transparency can be paralyzed. Without the right tools, a crystal-clear ledger is lower and more a haystack that hides countless needles. That’s where blockchain analytics enters.
The latest phase of The Clear Crypto Podcast discusses how blockchain’s radical openness created both opportunities and challenges, and now, artificial intelligence (AI) may be the missing piece in the sense of everyone.
The role of analytics today
Blockchain data has helped monitor prohibited activity, as recently, when South Korea demolished the authorities An international hacking syndicate. It also provided critical context during the major collapse of the industry, such as the collapse of the FTX.
As guest Alex Svanevik, co-founder and CEO of analytics platform Nansen, recalls:
“Many people use our product to see what’s going on with funds sitting on FTX wallets, and you can really see in the real time that despite the SBF said they blocked backwards, you could find money flowing out of exchange.”
For traders and institutions, analytics tools serve another purpose.
By labeling purse addresses and the flow of funds, these platforms allow users to see where the capital is moving, what the major players are doing and whether the suspected activity can influence the token prices.
However, the real challenge is availability. “I think we’re going to a huge change to what the products look like,” he said.
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“People are used to using dashboard, having to spend a lot of time onboarding, going through training. I think the near future of software products is one where you only talk to products.”
AI has changed the equation
Even with sophisticated dashboards, blockchain parsing data remained a steep learning curve. That is why the integration of artificial intelligence represents such a significant jump.
Svanevik featured recently launched by Nansen AI-Powered product that allowed users to query blockchain activity in simple language.
“The future … you will only talk to AI agents who can do research for you, and instead of spending an entire day combined with everything, within 20 seconds you have an assessment.”
This is more than some stylish or cosmetic shifts. By lowering the barrier of admission, AI-driven analytics democracy of blockchain intelligence.
Retail investors, compliance officials and even casual observers can access views that were former domain of expert analysts.
The blockchain has long promised to make the finances clearer, but that promise is just as strong as the ability to interpret the information it has formed. As Svanevik placed:
“We usually bet the whole company with the idea that people want to talk to (the data).”
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