Weaknesses of the crypto revolution
The supposed anonymity of the digital currency payment system favors dark activities such as bets, sale of narcotics and scams
Twenty years is the average of time proposals for digital payments, transactions and other negotiations in a single currency have been discussed. Already in 1988 The Economist published a kind of prediction about it for the next thirty years. That same year, American electronic engineer and writer Timothy C. May released a prediction on cryptocurrency in The Crypto Anarchist Manifesto. There he spoke in simple terms about what humanity is currently living with respect to the cryptographic revolution. The question is, is the world on the right path?
The situation is analyzed by security departments of each country and continental regulators before the risk of misuse of digital currency and the technologies involved, especially in cyber crimes. They focus on the weaknesses of the current crypto universe such as supposed anonymity in the transactions, the non-interference of the banks in the payments and the fact of not having to pay commissions; also, false promotions based on bubbles launched by market analysts and the use of cryptocurrencies for bets and payments in the pornography industry.
During the first half of 2018 the authorities of the United States and Asia have practiced many arrests that involve scams of ghost companies, or of dubious identification, without forgetting the cases of kidnappings in which the perpetrators ask for rescue in cryptocurrency.
Blockchain technology and various startups are also involved in crimes such as the trafficking of illicit substances and payments between involved parties, such as Paragon and BudBo, based on the supposed anonymity and difficulty of tracking of transactions, particularly in the dark network.
Undoubtedly, these are aspects that keep the security entities, specialists in cyber attacks, as well as analysts of the vulnerability of both corporate and independent investors around the world on alert.
M.Pino
Source: Wired
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