CEO Interview: A Blockchain Company Working with the US Law Enforcement Departments

Big Blockchain intelligence group CSE:BIGG
Published on: April 11, 2018
Author: NAI500

The discovery of gold in California in 1848 led to a half century-long gold rush.  As The San Francisco Californian wrote, “the whole country, from San Francisco to Los Angeles and from the sea shore to the base of the Sierra Nevada, resounds with the sordid cry of ‘Gold! Gold!! Gold!!!’ In fact, most of the gold miners didn’t make a fortune. It was the sellers of gold digging tools that became the biggest beneficiary of the Gold Rush. The denim blue jeans, which came out as miners’ rough work pants, are still considered as high fashion today.

Nowadays, as tech ideas have become gold mines in and of themselves, more and more investors have shifted their focus to Bitcoin and other crytocurrencies, the new “digital gold”. In March 2017, Bitcoin hit a milestone as it rose as high as $1,242, surpassing gold price for the first time.

Meanwhile, Blockchain technology, the underlying technology that makes cryptocurrency transactions possible, has also caught great attention. Global central banks, major financial institutions and high tech firms have paid unprecedented attention to its potential.   Even China has begun to regard  blockchain technology as a national strategy and has included its application in China’s 13th Five-Year Plan for National Informatization.

With the Blockchain industry heating up, we’re beginning to see weeds and seedlings co-exist in the same environment. Can blockchain technology achieve commercialization, or is it merely concept fueling speculation? Is Bitcoin an outright Ponzi Scheme, or a disruptive world currency? Are we seeing the ultimate realization of liberalism, or an evolution of black market transactions? Should the government ban it, embrace it, or bring it under supervision?

Lance Morginn, CBP CEO, Director and Co-Founder, Blockchain Intelligence Group (CSE:BIGG) (OTC:BBKCF) (WKN:A2JSKG)

With all these questions in mind, NAI500 took the time to interview Mr. Lance Morginn, the chief executive officer of BIG Blockchain Intelligence Group (CSE: BIGG). Headquartered in Vancouver, Canada, BIG was founded in 2014 and its products track and monitor cryptocurrency transactions forensically in the fight against financial crime. The company’s clients include the US Department of Homeland Security and the US Department of Justice. With its products in this rapidly growing industry, BIG can be called the “denim blue jeans” of the “digital gold” era.

 

 “As a global currency, Bitcoin is still undervalued.”

Q: Many investors have started to pay attention to blockchain technology because of bitcoin. The Chinese government had banned ICOs last year as it was getting out of control. Could you explain to those of us who are new to this industry, the connection between blockchain, bitcoin and ICO?

Blockchain is a continuously growing list of records which are linked and secured using cryptography. By design, a blockchain is resistant to modification of the data. It can be an open or closed ledger that can record transactions between two parties effectively and in a verifiably and permanent way.

Bitcoin offers a form of value – utilizing the blockchains ability to provide debit, credit and settlement with immediate auditability. Blockchain itself is designed to eliminate the risk of a double spend.

ICO’s are leveraging the ability to perform the above but instead are offering equity within their company and or business model.

Q: What do you think of the value of bitcoin?

I think it is undervalued. If you look at the fact that it is a global currency, $140 billion is considerably low. People want a currency that is not backed by government, where their accounts could be frozen and funds withdrawn, there are others that cannot afford back accounts (2 billion +) and what we really view bitcoin as is the new secure transaction protocol running on the internet. Internet 2.0. For our company, the price of bitcoin could be $1 and our services would still be relevant.

 

“Blockchain can never be blocked.”

Q: Theoretically, where could blockchain be applied and how could it change the world? Is there any potential barrier for the application of blockchain technology, for example, from governments?

Blockchain itself will never be blocked as it’s not a security risk and as a matter of fact provides the complete transparency that a government would or should be looking for. Examples of use cases: voting, land title management, speed to incorporation of companies, filing of patents, and identity management.

 

BIG is devoted to promoting the use and regulation of cryptocurrencies.

Q: What does your company do? Can you explain about your products? Who are your clients?

Blockchain Intelligence Group (“BIG”), has developed from the ground up a Blockchain agnostic search and analytics engine allowing RegTech, Law Enforcement & Government Agencies to trace, track and monitor cryptocurrency transactions at a forensic level.

Our commercial product, BitRank Verified, offers a “risk score” for bitcoin wallets allowing banks, exchanges and eCommerce sites to meet traditional regulatory/compliance requirements.

Our clients are the US Department of Homeland Security (ICE), the US Department of Justice,  Hilltop Security an aggregator of cyber security service providers and recently partnered Securrency which provides KYC services validating identity in over 50 countries.

Q: What is your business model?

Our base engine is called QLUETM – Qualitative Law Enforcement Unified Edge. Both of our services are “SaaS” or Software as a Service business models. QLUETM is a monthly subscription model and BitRank Verified is billed on a monthly basis and price is determined by the number of lookups performed in the 30 day period.

Q: There are so many blockchain companies out there now, how do you compare to your peers?  What stands out?  Why should investors invest in your company? 

The first use case of blockchain was Bitcoin and then other cryptocurrencies. We are the picks and shovel in this first use case and offer forensic capabilities back to the original transaction in 2010.  Shaping the way digital currencies are being viewed, regulated and accepted. Our services are built once and sold globally.

  • Well Funded: oversubscribed financing in Q4 2017 raised $19.7 million CDN
  • Growing Market: rapid growth due to exponential adoption rate of cryptocurrency internationally
  • Stable Targets: large entities with massive budgets: governments, financial institutions, global businesses
  • Proprietary Products: provisional patent has been filed
  • Low Competition: positioned as industry leader due to early position in marketplace and few competitors, none of which have comprehensive suite of tools
  • Significant Clients/Users: US Department of Homeland Security; US Department of Justice; in discussion with a number of US and foreign government agencies,

 

Driven by cryptocurrencies, blockchain technology is generating a lot of heat. However, there is concept speculation and even fraud in the market. The wild price swing is no good to the technology application, in the future cryptocurrencies should pursue compliance. Great companies like BIG which have unique products are noteworthy.

BIG Blockchain Intelligence Group (CSE: BIGG) will present at the Investment in Innovation – GCFF Vancouver Conference 2018 on April 28th in Richmond. Sign up now to meet with the CEO to learn more about the company and investment opportunities!

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