3 ms·
> Cryptocurrency is designed specifically, by virtue of its decentralized and trustless nature, to facilitate money laundering. It was a design goal. If it was
by baybal2 6y ago
> Cryptocurrency is designed specifically, by virtue of its decentralized and trustless nature, to facilitate money laundering. It was a design goal.
If it was its designed goal, it would've also included provisions to provide proofs anonymously, and reduce physical traceability.
I very much see some cryptocurrencies tried, and some are moderately successful with it, but none have progressed much on the former other than by using crypto signing by some centralised, or semi-decentralised entity which processes the ledger, or does proof of work. So, none of the popular cryptocurrencies have achieved a true "non-chain" way of working, which does not rely on a continuous record of the global state of the ledger.
The cryptographic trust in such mechanism would be much less than in a non-anonymous ledger, where the state of all wallets is recorded for everybody to see, and check for signs of something weird.
- kmeisthax 6y ago[laughs in Monero]