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.