Zcash May End The Money Trail Analysis
Zcash May End The Money Trail
Zcash A decentralized and open-source cryptocurrency that has a complete anonymity on the blockchain is causing a lot of worries with law enforcement as most agencies think it will harbour illicit transactions.
A US state prosecutor, Kathryn Haun, expressed skepticism regarding Zec’s claims of full anonymity, emphasizing that if it works as advertised then it would make the prosecutor’s job “a lot more difficult.”Criminals want to be paid, Haun stated, therefore agents follow the money, but:
“If we all the sudden omit an entire source of evidence historically available, that will make our job a lot more difficult, definitely.”
Although the prosecutor wonders whether Zcash would work as advertised, she states …show more content…
Almost always the answer is for a libertarian purpose therefore this is only something that can ever sit outside of any taxed or regulated or even one that requires basic elements of provenance, accountability and auditability. None of these are markets I am interested in.”
What will law enforcement (FBI) think of Z-cash?
Definitely the government and security agencies are not too excited of hidden transaction details that can be successfully hidden using the Zcash anonymity features, coinidol spoke to Benjamin Bender, Retired Police Detective St Louis Metropolitan Police, on how the security agencies can think of zcash, he responded saying,
“People have been trying to hide money from the Government for tax and criminal reasons since money was created and people were trading with shells and beads. Every time the prey developed a new defense the predator develops new techniques to overcome the new defense. Neither has the upper hand long….but Law Enforcement only need to be right 1 time to get you. You need to be right every day to win forever. Thus in the end it’s just like everything else. They think…”what is that and how can we trace, track, surveil and enforce the
Zcash A decentralized and open-source cryptocurrency that has a complete anonymity on the blockchain is causing a lot of worries with law enforcement as most agencies think it will harbour illicit transactions.
A US state prosecutor, Kathryn Haun, expressed skepticism regarding Zec’s claims of full anonymity, emphasizing that if it works as advertised then it would make the prosecutor’s job “a lot more difficult.”Criminals want to be paid, Haun stated, therefore agents follow the money, but:
“If we all the sudden omit an entire source of evidence historically available, that will make our job a lot more difficult, definitely.”
Although the prosecutor wonders whether Zcash would work as advertised, she states …show more content…
Almost always the answer is for a libertarian purpose therefore this is only something that can ever sit outside of any taxed or regulated or even one that requires basic elements of provenance, accountability and auditability. None of these are markets I am interested in.”
What will law enforcement (FBI) think of Z-cash?
Definitely the government and security agencies are not too excited of hidden transaction details that can be successfully hidden using the Zcash anonymity features, coinidol spoke to Benjamin Bender, Retired Police Detective St Louis Metropolitan Police, on how the security agencies can think of zcash, he responded saying,
“People have been trying to hide money from the Government for tax and criminal reasons since money was created and people were trading with shells and beads. Every time the prey developed a new defense the predator develops new techniques to overcome the new defense. Neither has the upper hand long….but Law Enforcement only need to be right 1 time to get you. You need to be right every day to win forever. Thus in the end it’s just like everything else. They think…”what is that and how can we trace, track, surveil and enforce the