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May 02, 2018, 11:02:23 AM |
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To date, there is hardly a crypto currency user who is not familiar with the KYC (Know Your Customer) rule. Recently, this principle has become the norm when registering krauseylov (ICO) and verifying on the stock exchanges crypto-currency. However, for the present, very few people have had to experience the new rule - KYT (Know Your Transaction), which in the future is able to put in the black list bitcoiners, whose crypto currency will be considered "smeared" in criminal schemes.
How clean are your crypto-currencies?
It is hardly worth expecting that crypto-currency users will be interested in the origin of their coins. And really, who cares what the bitcoins were used for before getting to the next owner. Besides, does the discrimination of certain coins contradict the very concept of interchangeability? Nevertheless, whether you like it or not, the KYT rules are on the rise, and if you ignore them, it can lead to the creation of Bitcoin with two states: one for verified users, and the other for unverified users with their "gray money ".
In this regard, it is worth mentioning the company Chainalysis, whose name is inextricably linked with the development of the principle of Know Your Transaction. The firm specializes in tracking money in the detachment and its reputation is, to put it mildly, very contradictory. On the one hand, Chainalysis helped track the movement of stolen Bitcoins MtGox. But on the other hand, it is unpleasant for crypto-currency users to realize that each transaction is recorded and permanently attached to their identity data. Given that recently Chainalysis attracted investments of $ 16 million, you should expect that in the near future, tracking tools will appear in any popular blockbuster.
When KYC is no longer coping
It's good or bad, but Chainalysis is not the only company promoting the KYT system. For some krauseylov it became quite normal to ask investors questions about where their funds came from and whether they were received illegally. Nevertheless, it is still not completely clear what exactly should be considered a stained crypto currency. For example, some believe that the stolen from the exchange Coincheck tokens NEM equivalent to 400 million dollars can be justly considered "dirty money." But how then to be with coins that have been in darknet, even if they were used there for an absolutely legal purchase?
From the point of view of banks and exchanges, perhaps one rule of KYC is actually not enough. In the end, this is a static process that can guarantee the legitimacy of a particular person in a particular period of time. However, this rule can not determine whether this person will subsequently have laundered assets.
How clean are your fiat money?
By itself, any technology is not initially bad or good. It is simply created, and then it is already used for good or evil purposes. If Chainalysis, Elliptic, Bitfury (Crystal) and other companies did not develop software for KYT, someone else would do it, and law enforcement agencies would also queue up to acquire it.
Given that 90% of US banknotes, most likely, were once used for illegal activities, the crypto currency can not be called more dirty than state money - the digital currency is, most likely, even cleaner. The difference is that the movement of bank notes from person to person can not be tracked in real time.
One of the strongest aspects of bitcoin - its transparency - is at the same time its weakness. At the moment there are ways to enter and exit the world of crypto-currencies, bypassing the confirmation of the identity or checking the history of the origin of your funds. However, as KYT turns into a new KYC, these doors begin to close quickly.
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