new@eBitcoinics.com 06 Dec, 2018 news.eBitcoinics.com Views: 14
Apparently, the US Department of Homeland Security (DoHS) is seeking to develop forensic analysis techniques specifically for cryptocurrencies such as Zcash and Monero, according to a document published by DoHS 'Small Business Research and Innovation Program (SBIR).
This document points to a proposal that encourages small businesses to develop, investigate, process and produce technologies that can be used to detect undercover criminals who use these cryptocurrencies.
In this sense, the document states that the proposal "makes a call to create solutions that allow law researchers to perform forensic analysis of blockchain transactions".
On the other hand, the SBIR establishes a three-stage process to develop forensic tools, namely, design of the blockchain analysis system that "allows forensic analysis for national security and apply security laws to the Zcash and Monero cryptocurrencies".
The second phase refers to the prototype of these tools to demonstrate how they could be used by the authorities. The third and final phase refers to the integration of these forensic tools into governmental or commercial applications that allow the authorities to track cryptocurrency transactions and apprehend cybercriminals.
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In addition, it is worth noting that this document is in the pre-solicitation stage, which means that businesses can still ask questions and suggestions about the proposals.
Also, it should not be surprising that the government is focusing on cryptocurrencies like Zcash and Monero, both of which are known for their links to cryptojackers, cyber criminals and terrorist organizations because of their privacy options.
Now that the DoHS is interested in thoroughly reviewing these digital assets to counteract their potential uses in illicit activities, the narrative that cryptocurrencies are exclusively tools for money laundering and financing of terrorism is getting closer and closer to being dismantled.