Sandy National Laboratory is studying a block chain analysis tools, can greatly combat illegal bitcoin Trading
Sandy National Laboratory (USA) is working on a block chain analysis tool, the tool will allow law enforcement agencies to track and combat illegal bitcoin trading.
Bitcoin is the best tool for anonymous. At the beginning of the design, characteristics of block chain transparent makes anyone can use the block detector to access the details of the deal. However, for now to keep track of all bitcoin trading is a very tedious task.
A tool Sandy National Laboratory is being developed recently can make it easier to track bitcoin trading. Once the tool is developed, it will be used for law enforcement agencies to track illegal bitcoin trading. “Illegal bitcoin” can mean a lot of things. It can be said from the wallet was stolen or the exchange of digital money, also can express digital currency to buy illegal materials in the dark in the net.
However, the rise of the block chain analysis and tracking tools which give bitcoin network itself caused a huge risk. In the current situation, there is no clear definition of the supervision of bitcoin may cause trouble to the mainstream digital currency outlook.
According to the Sandy National Laboratory, this tool is for the U.S. Department of Homeland Security Science and technology research and development bureau. They believe that this tool will eventually be used by other federal, state and local law enforcement agencies. The person in charge of the project development tools AndrewCox explains this tool needs:
“Bitcoin is a new semi anonymous currency, it has the potential to change the way of trade economic benefit. Some potential benefits include making financial trade more efficient, thereby reducing operating costs, making the transaction process more transparent, which will contribute to the financial market and financial supervision, in addition to bitcoin can reduce the risk of inflation and reduce the dependence of monetary institutions on center. That is to say, obviously the criminals pioneered the use of bitcoin. They use bitcoin drugs, guns, child pornography and various harmful material trade.”
Some people think that the new tools may bitcoin can have a huge impact of alternative. With the advent of new tracking tools, law enforcement departments can put a bitcoin token for illegal activities included in the blacklist. If the tool detects bitcoin is used for illegal trading in the past, this may affect the legitimacy of the bitcoin value.
No matter the bitcoin community on this new study is happy or not, anyway, so far, the Department of Homeland Security on the Sandy National Laboratory in this study is very satisfactory.
The introduction of said bitcoin tracking device can greatly reduce the frequent bitcoin blackmail attack and other encryption currency related network crime.