Anonymity of cryptocurrencies come to an end?

Anonymity of cryptocurrencies come to an end?

With the development of technologies in the future, it is likely that there will be a global identification of the persons involved in the alleged anonymous cryptocurrency transactions.

By this view came business analyst Garrick Helman, expert in cryptography and economic historian from Cambridge University.

Anonymity of cryptocurrencies – conditional. And even if now it seems impossible to disclose the identities of the users, it will be possible in the near future. Each transaction leaves its trace in the blockchain.

As an example of such a situation, Garrick brought the story of lance Armstrong – the only one in the history of the sevenfold winner of Bicycle race Tour de France, which in 2012 was stripped of all regalia for doping.

“It’s like taking blood samples from lance Armstrong at the time, it was not possible to determine exactly which drug for doping he used. But after a while there are more modern methods of blood analysis. Using the very long samples, scientists have determined that took a cyclist.”

This year, Bitcoin soared in price by more than 1000% relative to the dollar. This has caused an increased interest from both investors and financial institutions. Authorities of Europe and the UK plan to crush Bitcoin because crypto currencies facilitate money laundering and financial crimes.

Since all transactions are recorded in the blockchain in the future, they can be analyzed using more sophisticated methods of identification of law enforcement. This cost to take into account the personalities, hoping to preserve the anonymity of using cryptocurrencies. Garrick Helman says that it is already clear that Bitcoin is less anonymous than I think most of the users are now in the dark web, more prefer other tokens, for example, Monero.

Cryptography, the underlying cryptocurrency “has never been mathematically proven to be protected – it simply hasn’t been hacked.” It is difficult to predict when the algorithms will be hacked, and this is unlikely to happen tomorrow. “The point is that the records are stored, and then there is like a lance Armstrong”.

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