More

    Bitfury Launches Crystal To Investigate Bitcoin Criminal Activity?

    Law enforcement is a tough and challenging job that carries with it a great deal of responsibility. As technology evolves though, so do the tools available for law enforcement professionals to use on the job. While cryptocurrencies such as Bitcoin traditionally have a shaky relationship with law enforcement due to the potential uses of the cryptocurrency to commit crime, there are also positive points that are coming to light, such as the ability of the currency to aid law enforcement in doing its job.

    With that, this review would like to introduce Crystal, which is a collection of tools that may make it easier for law enforcement to investigate crime using blockchain technology. While it seems that the main purpose of this technology is for crime fighting, there are also other facets as well. The platform is also designed to reduce the association between bitcoin and black market transactions, making it a more viable and attractive option for government agencies.

    How Does Crystal Work?

    Crystal is an innovative group of technologies created by Bitfury. The software package is designed to track bitcoin transactions and in doing so, law enforcement can determine whether the funds received is from the black market or has a clean origin. This way, it may become easier to ensure that the transaction is a valid one and that there is no criminal activity afoot.

    In addition, the technology makes it easier to track suspicious transactions as well. By noticing where the suspicious transactions are coming from, law enforcement may be able to use it as lead into other potential crimes so that they can weed out the bad actors in society.

    Bitfury Crystal Detailed Risk Score

    Another great feature of this software is that it provides individuals with a detailed risk scoring capability. This feature makes it easier for law enforcement to trace suspicious transactions – exactly to the address or withdrawal point. In addition, it calculates the risk of the address so that law enforcement can determine whether it is safe to enter or the precautions that they should be taking when doing so. With this tool, law enforcement can take the actions necessary to ensure the safety of its team and to mitigate crime as well.

    Overall, Bitfury is an up and coming player in the crypto industry and the new release of its latest technology, Crystal, may be just the right solution for it to get on the right side of law enforcement agencies.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Avatar
    Bitcoin Exchange Guide News Team
    B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,353FansLike
    2,773FollowersFollow
    4,130FollowersFollow

    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Crypto Community Sentiment Still Bullish Despite BTC Trading 40% Lower Than Yearly High

    Bitcoin proponents had a lot of expectations from 2020, given the impending Block Reward Halving and the expected bull run. The year started as...

    Modern Monetary Theory (MMT) vs BTC to be the Main Event of 2020

    The biggest global emergency of the century, COVID-19 pandemic has the Treasury officials trying to decide on how much they can spend to fight...

    This Crisis Is A ‘Perfect Storm' For Bitcoin But We Could Be In For A ‘Prolonged Bear Market'

    Bitcoin is back in the green, recording the gains of 3.14% in the past 24 hours while volume on the top ten exchanges with...

    Banking Giant Santander to Bring One Pay FX Payment System to Mexico Utilizing RippleNet

    In 2020, the major Spain-based bank Santander is planning to roll out the One Pay FX program, its Ripple powered system for international payments,...

    Bitcoin Bull Market Won’t be Happening Immediately After the Halving: Bitmain CEO

    Bitcoin is currently trading above $6,300, still down over 14% on a year-to-date basis but up more than 60% from the 2020 low of...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.