• About us
  • Contact Us
  • Privacy & Policy
CryptoCoinNewsHub.com
No Result
View All Result
Saturday, July 11, 2020
  • Home
  • Live Updates
    • Cryptocurrency Prices
    • Live ICO
    • Live Exchange
  • Crypto News
    • Bitcoin
    • Ethereum
    • Ripple
  • Blockchain
  • Tech
  • Business
  • Trading
CryptoCoinNewsHub.com
  • Home
  • Live Updates
    • Cryptocurrency Prices
    • Live ICO
    • Live Exchange
  • Crypto News
    • Bitcoin
    • Ethereum
    • Ripple
  • Blockchain
  • Tech
  • Business
  • Trading
No Result
View All Result
CryptoCoinNewsHub.com
No Result
View All Result
Home Business

Transparency and Analytics Build Trust in Crypto

August 27, 2019
in Business
2 min read
0
Transparency and Analytics Build Trust in Crypto
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter

Jesse Spiro, global head of policy at blockchain analytics firm Chainalysis, has said that he believes that transparency builds trust in crypto.

Speaking with Cointelegraph, Spiro addressed widespread concerns that blockchain analytics negatively affect Bitcoin’s (BTC) fungibility and explained why he believes that transparency builds trust in crypto. When he was asked what he believes would be the impact of blacklisting Bitcoin addresses on the coin’s price, he explained:

“Active financial integrity in the ecosystem could also help counter that concern that crypto is a wild west with no way of telling if you’re dealing with someone profiting off of child exploitation. In that sense, transparency and an ability to assess the activity at play, can help build trust in cryptocurrency, which is a significant part of the Chainalysis mission.”

Blacklisting doesn’t affect fungibility

Spiro also explained that he is not of the mind that blocking addresses and marking Bitcoin involved in illegal activity decreases overall value and fungibility. For instance, he explained that in the case of sanctions “BTC would be explicitly untainted by the public removal of sanctions.” Spiro also said:

“Overall, whether frozen or merely identified with problematic activity but still in circulation, the issue is less about fungibility, and more about reasonableness in how far from and what the connection to criminal activity it’s a risk to be transacting (indirect exposure etc), like with fiat (digital or not) today.”

This, according to Spiro, is why blockchain analytics are needed for institutions like cryptocurrency exchanges.

As Cointelegraph reported, Chainalysis recently launched alerts for suspicious transactions across 15 major cryptocurrencies.

RELATED  Coinbase Rolls Out Stellar Lumens (XLM) Trading in New York State


Credit: Source link

  • Trending
  • Comments
  • Latest
Singaporean Exchange Bitrue Gets Hacked, Losing $5 Million in XRP, Cardano

Singaporean Exchange Bitrue Gets Hacked, Losing $5 Million in XRP, Cardano

June 27, 2019
Bittrex Set to Block Trading of 42 Coins for U.S Traders

Bittrex Set to Block Trading of 42 Coins for U.S Traders

June 22, 2019
Zilliqa Price Analysis ZIL / USD: Prison Break, Round 2

Zilliqa Price Analysis ZIL / USD: Prison Break, Round 2

June 11, 2019
U.S. Clean Energy Firm Clearway Energy Will Test Blockchain for Renewable Energy Trading

U.S. Clean Energy Firm Clearway Energy Will Test Blockchain for Renewable Energy Trading

June 29, 2019

Confiscated Bitcoins by Tax Agents Remain in a Criminal’s Wallet

February 7, 2020

XRP Beats Ethereum and Bitcoin as the Best Performing Crypto

February 1, 2020

Robin Hood- Problems in more than just Sherwood Forest

January 28, 2020

One Wallet Has 27% of Ether in Old MakerDAO Network

January 26, 2020
CryptoCoinNewsHub.com

CryptoCoinNewsHub.com is an online news portal which aims to provide latest trendy crypto news around the world with real time updates.
Email us hello@cryptocoinnewshub.com

Topics to Cover

  • Bitcoin
  • Blockchain
  • Business
  • Crypto News
  • Ethereum
  • Ripple
  • Tech
  • Trading

Whats New Here!

  • Confiscated Bitcoins by Tax Agents Remain in a Criminal’s Wallet
  • XRP Beats Ethereum and Bitcoin as the Best Performing Crypto
  • Robin Hood- Problems in more than just Sherwood Forest

Subscribe to get more

Simply subscribe to our newsletters and we will be in touch. Don't worry, we won't spam you

© 2019 CryptoCoinNewsHub.com - All rights reserved

No Result
View All Result
  • Home
  • Live Updates
    • Cryptocurrency Prices
    • Live ICO
    • Live Exchange
  • Crypto News
    • Bitcoin
    • Ethereum
    • Ripple
  • Blockchain
  • Tech
  • Business
  • Trading

© 2019 CryptoCoinNewsHub.com - All rights reserved

  • bitcoinBitcoin(BTC)$8,152.26-0.70%
  • ethereumEthereum(ETH)$175.30-1.63%
  • rippleXRP(XRP)$0.252799-0.58%
  • bitcoin-cashBitcoin Cash(BCH)$242.68-2.16%
  • tetherTether(USDT)$1.000.27%
  • litecoinLitecoin(LTC)$55.01-1.92%
  • eosEOS(EOS)$3.11-2.39%
  • binance-coinBinance Coin(BNB)$18.56-2.84%
  • cardanoCardano(ADA)$0.042556-2.10%
  • stellarStellar(XLM)$0.064655-3.04%
  • tronTRON(TRX)$0.016891-2.25%
  • moneroMonero(XMR)$58.64-0.32%
  • neoNEO(NEO)$11.682.51%
  • iotaIOTA(MIOTA)$0.245122-1.96%
  • dashDash(DASH)$65.431.15%
  • nemNEM(XEM)$0.039494-0.75%