Topic: Could bitcoin prevent crime? - page 13. (Read 9664 times)
Bitcoin won't prevent crime, because it has been developed to make transactions faster with less transaction fee and increased security features. At the same it doesn't reveal the identity of the sender and receiver. At its initial stages countries opposed much, the reason is that its been used more for illegal needs.
Sorry, let me rephrase - not prevent crime exactly, but prevent violence during criminal transactions.
In a criminal transaction Escrow would be the safest option because if the escrow jets with the money he'll have two criminals after him, not just one!
In a criminal transaction Escrow would be the safest option because if the escrow jets with the money he'll have two criminals after him, not just one!
Bitcoin will not prevent crime, but it can be used to trace the criminals and this will lead to their capture and hopefully imprisonment. The Blockchain is a excellent tool to follow money. Yes, there are ways for these criminals to make it more difficult for authorities to follow the money, but with enough paper work this can be done.
Interpol can use Bitcoin as a forensic tool, to audit all financial transactions that were done with Bitcoin. ^smile^
Interpol can use Bitcoin as a forensic tool, to audit all financial transactions that were done with Bitcoin. ^smile^
Bitcoin can't prevent crime, the way BTC is design, it is faceless transactions and this is the concern of people in government that it is likely to be used by terrorist. Even with escrow, Escrow is just to guarantee trust.
Could bitcoin prevent crime?
I believe Bitcoin transactions via online wallets could prevent crime. People are going to use Bitcoin for legal and illegal transactions, however criminal transactions are susceptible to crime as cash is used for the transaction...which encourages theft. If bitcoin were used for these shady transactions, perhaps with escrow, there would be no opportunity to steal currency - couldn't this prevent crime? (Aside from the original criminal transaction of course!)
I believe Bitcoin transactions via online wallets could prevent crime. People are going to use Bitcoin for legal and illegal transactions, however criminal transactions are susceptible to crime as cash is used for the transaction...which encourages theft. If bitcoin were used for these shady transactions, perhaps with escrow, there would be no opportunity to steal currency - couldn't this prevent crime? (Aside from the original criminal transaction of course!)
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