A novel responsible innovation framework in the context of a blockchain analysis platform

Blockchain technologies can play a core role in a wide variety of industries. Specialized tools (known by the umbrella term ‘Blockchain Analytics’) are increasingly used to search and explore blockchain ledgers for purposes of surveillance, prosecution, and risk mitigation. However, the development and use of blockchain analytics pose difficult ethical and social questions, concerning the privacy, security, and autonomy of blockchain transactors. Blockchain analytics could reshape the social uses of cryptocurrencies or other blockchain technologies in unpredictable ways. The ethical development of blockchain analytics requires sustained reflection and engagement with key stakeholder groups. We discuss challenges to responsible innovation in the blockchain analytics space and sketch the foundations for a framework for innovation that developers can use to assess and address social/ethical risks.