Bitcoin May Help Criminals, But Blockchain Can Help Thwart Fraud

Cameron Camp

We all know bitcoin as an irritable and unknown cryptocurrency. It provokes clever opinions. Department of Justice officials reference it in tie with real-life crimes, only as made-up bad guys anxiety it in movies.

But a underlying bill record behind bitcoin — a blockchain — should miss such disastrous connotations due to a capability of tracking users’ activities in a severe way. While bitcoin is noticed as “secret currency,” a record behind a cryptocurrency is immensely useful to financial services companies in preventing hacking.

The blockchain can paint a really accurate sequence of events for traditional remuneration transactions, and ultimately, assistance coax a steep dump in fraud.

In a cryptocurrency transaction, we can’t know who a parties concerned are. They’re anonymous. If unknown celebration A disputes a transaction with unknown celebration B, we can’t call



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