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Fernando Gutierrez 3/12/2016
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Private. Collaborators only.
Selection made on Version 5
There is already both research and practice in conducting SIGINT on the blockchain. [5] With Bitcoin and Blockchain technology in “vanilla” form, the ability to perform SIGINT is actually HIGHER than traditional more closed systems… AML and KYC laws are often impossible to implement while balancing the privacy of the users because the Blockchain is potentially visible to the whole world and not under the control of the selected entities. In fact, I believe that we must not only prevent the collection of the same kind of information in traditional financial system but also discuss technologies to prevent privacy risks from the analysis of the Blockchain. If we are to deploy Blockchain broadly we will have to look at both AML and KYC laws and upgrading them taking into account the new technical architecture and environment and balancing the privacy and security concerns.
If we are to deploy Blockchain broadly we will have to look at both AML and KYC laws and upgrading them taking into account the new technical architecture and environment and balancing the privacy and security concerns.
The analysis of the blockchain is both an attack on privacy and on fungibility, which is a basic property of money. By analyzing the blockchain, companies like Elliptic or Coinalytics are marking funds that have had any relation with “illegal activities”, so their clients take whatever meassure compliance with AML and KYC require. This makes indivuals unsafe because, deprived of the same tools companies have, they can’t know if their money is good or not. This can eventually lead to multiple classes of coins because not every jurisdiction will make the same judgements about the legality of activites funds have been involved with.