Elliptic, a blockchain intelligence company has announced its partnership with Internet Watch Foundation (IWF), a non-profit organization, in order to combat the use of bitcoin in online child sex abuse.

“Over the past few years, we have seen an increasing amount of Bitcoin activity connected to purchasing child sexual abuse material online. Our new partnership with Elliptic is imperative to helping us tackle this criminal use of Bitcoin,” Susie Hargreaves, CEO of IWF said.

Internet Watch Foundation has disclosed to Elliptic, its database containing bitcoin addresses which are associated with online child sexual abuse content.

“Elliptic and IWF’s partnership represents a major step forward in Bitcoin’s evolution. Elliptic has demonstrated to banks, law enforcement and the public at large that they are taking meaningful steps to eliminate the illicit use of Bitcoin. They have set an important precedent for Bitcoin companies worldwide to fight crime,” former Detective Chief Superintendent of National ROCU lead for Intelligence, Mark Birch.

Elliptic will combine the unique data set provided by IWF to its transaction monitoring and investigation products. The company will automatically alert financial institutions and law enforcement clients to proceeds of this illicit content.

“We have a profound respect for the critical and difficult work that IWF undertakes. We are proud to take a leadership role in combating Bitcoin’s use to facilitate these terrible crimes. In a world’s first, Elliptic’s clients can now automatically monitor all transactions for any connection to proceeds of child sex abuse,” CEO and co-founder of Elliptic, Dr. James Smith said.

Elliptic is the global standard in blockchain monitoring technology and is recognized as an established authority on blockchain compliance. The company identifies illicit activities on the bitcoin blockchain and provides its data and analytics services to the leading bitcoin companies and law enforcement agencies globally. Elliptic provides advice to governments on blockchain regulatory matters.

The IWF is a not for profit organisation dedicated to supporting the victims of child sexual abuse by identifying, reporting and removing the images of their sexual abuse.