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Blockchain Usage For Police Investigation Purposes

The blockchain technology is getting mass adoption rapidly. As a result, many people try to use it for the criminal purposes, especially...

Written by Wallebi Author · 1 min read >
Blockchain Usage For Police Investigation

The blockchain technology is getting mass adoption rapidly. As a result, people try to use it for many purposes such as criminals, especially for cyber-crimes. The statistics shows that the damage from cyber-crimes could be around $6 trillion in 2021, which is twice as much as in 2015. The question here is that how blockchain technology can help entities in order to fight against crime and money laundering activities. In this article we are going to talk about blockchain usage for police investigation purposes.

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Tracking transactions in order to trace cyber-criminals

Blockchain technology provides a transparent platform. As a result, the law enforcements would be able to track suspicious transactions easily. In fact, they can track the transactions as well as block the funds, which are associated to criminals. In addition, they can track ICO venture funds in order to make sure that the project developers did not misuse the investors’ funds.

Moreover, blockchain provides a secure platform in order to store data and information. Therefore, the authorities and entities can use it to store data such as criminal records, biometrics of stateless people and other citizens, and wanted lists.

Blockchain technology could be also helpful to fight against money laundering. Many companies are developing blockchain solutions for this purpose. In fact, some of them could successfully apply this technology in the field of risk monitoring and analytics for cryptocurrency transactions. For instance, Coinfirm developed an anti-money laundering platform, which allows tracking suspicious transactions and fighting against financial terrorism.

Blockchain usage for police investigation purposes; Fight against manipulating data and change records

One of the main disadvantages of central data bases is that data can be changed or manipulated easily. In fact, by simply gaining access to the system, one can easily change the information. For example, the data bases of the Ministry of Internal Affairs keeps sensitive data about wanted criminals. If one could gain access to the system, can easily delete the records. Consequently, the more investigation on the project will  be stopped.

On other hand, blockchain provides an immune platform. There is no administrator, who can have access to the system in order to make changes. In fact, all data stored on the computers around the world. In order to make any changes to stored data, all the nodes should consensus on the change. As a result, the security and integrity guaranteed by using cryptographic technology.

Written by Wallebi Author
Author and analyst in the field of cryptocurrency Profile

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