Bitcoin has often been referred to as an anonymous form of payment. That is far from the truth, though, as all transactions on the network are visible in real-time. Moreover, anyone in the world can see these transfers, rather than just a select few institutions or groups. But Sandia National Laboratories is planning to end whatever is left of Bitcoin anonymity with their new projects.
Sandia National Laboratories Uses Different Tactics
As we reported earlier this week, the Department of Homeland Security is not in favor of Bitcoin anonymity. The agency has hired external developers to create a better analytics tool to track suspicious Bitcoin payments. Ever since that announcement, more information has become available to the public.
The company in question is called Sandia National Laboratories, a US Department of Energy RD facility. The team of engineers have created a set of specific requirements to analyse Bitcoin transactions. Moreover, the graphical user interface Homeland Security requested will be tested soon, and may find its way into the hands of other law enforcement agencies.