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  Arkansas Police: Bitcoin Mining to Combat Crime | Bit Updates
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Arkansas Police: Bitcoin Mining to Combat Crime

Tuesday, October 31st, 2017 | bitcoin updates

Bentonville police in Arkansas is piloting a cybercrime crackdown on Bitcoin. The Cybercrime Department wants to use the digital currency to combat child pornography or other crimes on the Internet, and especially the Dark Web. Finally, Bitcoin is a common currency in the Dark Web, as many users hope for a higher anonymity of Bitcoin. The fact that Bitcoin is anonymous is, however, a fallacy, which is why the term pseudoanonym is to be recommended here. Specifically, the bitcoins used by the authorities should therefore be used for undercover actions in the network in order to track payment transactions. Tracking can create payment patterns that can help locate the criminals. The police would like to be particularly consistent and mine the Bitcoins themselves to have "unloaded" Bitcoins, without transaction history. On the one hand, the police authority hopes to save costs compared to direct acquisition on the stock exchange and, on the other hand, to remain largely undetected. The pilot project started in April of this year and took place in cooperation with other state authorities. To what extent the authority is even able to operate economic Bitcoin mining is not known. Accordingly, there are some criticisms that taxpayers' money is wasted on the enormous electricity bill. As transparent as the Bitcoin Blockchain may be, the agency does not disclose any further information on the scope of bitcoin mining for reasons of confidentiality.BTC-ECHOAbout Sven WagenknechtSven Wagenknecht is the editor-in-chief of BTC-ECHO and responsible for editorial planning and business development. After completing his training as a banker, he studied politics and economics in M√ľnster and completed various career stages, for example in one of the leading management consultancies and in the Federal Ministry of Economics. He is particularly fascinated by the blockchain technology's long-term implications for politics, society and the economy. As a speaker, most recently at the St. Petersburg International Economic Forum 2017, he will talk about the macroeconomic potential of Blockchain.View all posts by Sven Wagenknecht Similar contributions Previous in category

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