Deputy: Anonymous crypto-currencies can be a major problem for law enforcement agencies
According to ambcrypto, on October 21, at the House of Representatives of Digital Commerce, Bill Foster, a member of the Illinois State Assembly and the Blockchain Core Group Congress, said that most crypto currencies were anonymous and may be trying to follow them. The repressive service for anonymous crypto-currencies poses major problems. Different cryptographic assets have different levels of traceability: for example, Bitcoin transactions can now be said to be traceable, and Cloak is announced as almost impossible to track. It is also important to allow institutions such as FinCEN and the FBI to obtain the necessary tools to combat illegal financing without compromising the revolutionary application of the blockchain.
On 19 October, the Ministry of Finance published the first national assessment of money laundering and terrorist financing risks (2018-2019). This report analyses the difference between pseudo-anonymous and anonymous tokens and points out that pseudo-anonymous tokens are used to analyse transactions in the public blockchain. Evaluate suspicious activities, while completely anonymous tokens (such as Monero (XMR), Cloak (CLOAK) and Zcash (ZEC)) make transactions impossible to track and therefore facilitate participation in illegal activities. The Department urges future monitoring of anonymous cryptometers. The market value of these tokens is still relatively low, but they are becoming increasingly popular and accepted in the black network and could eventually become a real substitute for Bitcoin.
I have read in 2020, the channel's main network will officially enter the v3.0 era (codename "BYOB"). The completion of this "R" evolution means that the new features of the underlying version 3.0 have been activated, including the first features of the wiki chain currency stabilization system (CLOAK) and decentralized exchange (DEX).
The CLOAK Stability Parts Distribution System (CLOAK) and Decentralized Asset Exchange (DEX) will become a major step forward in the application and implementation of the wiki chain connection industry. As an anonymous decentralized financial instrument, it will accelerate the implementation of the extra-circular landing through the key role played by the three-pass economic model of the chain.
The BYOB DEX chain based on blockchain technology can not only support the same transaction volume as traditional exchanges, but also solve common industry problems common to centralized asset exchanges, which can be safer, more efficient and more anonymous! Provide support for the negotiation of digital asset products.
"While the chain's technology continues to break down industry bottleneck constraints and make new technological advances, the CLOAK chain will also strengthen the chain's empowerment and the prosperity of business and ecology as CLOAK already operates a protocol that drastically reduces the carbon footprint".
Personally I am looking forward to soon being able to exchange multiple currencies anonymously from my funds with optimal security within the CLOAK decentralized network on the new DEX wallet CLOAK//BYOB !
I still wonder how they will manage liquidity to avoid artificial inflation and whether there will not be too much of a slowdown because trading bots may have a field day.