How distributed ledger technologies can help law enforcement agencies to fight crime and money laundering.
Blockchain technology offers a wide range of opportunities to investigate crimes and counteract possible attacks by cybercriminals. On one hand, a blockchain allows tracking suspicious transactions and blocking the movement of funds into the accounts of potential criminals and persons associated with them. It is also possible to track ICO venture funds to prove misuse and embezzlement of investors’ funds. On the other hand, the investigative data stored on the blockchain, as well as any other forensic databases, will be simultaneously more accessible and secure. This will allow law enforcement to safely store the full range of information you need — misdemeanor data, biometrics of citizens and stateless persons, criminal records, wanted lists and many others.
Today, the alternative to centralized information storage is the use of a blockage system: a system without central storage and a database administrator. Data is stored on the computers of all the network’s members. Integrity and security are guaranteed by using cryptographic primitives — hash function, asymmetric encryption, use of keys, etc. In addition, blockchain technology allows you to track who made these changes and when because you need a special key for access. All keys are not stored centrally, but personally with each user. There is no single point to attack the entire database, which means there is no way to steal all the data at once.
In the case of centralized databases, only backup copies are available at a certain point in time, but not the complete picture of all processes ever occurring in the database. In digital forensics, it is sometimes necessary to examine electronic devices and to extract their data.
Criminal case materials, protocols and information from different sources will soon be processed by artificial intelligence, and investigators will no longer have to do it manually, wasting valuable time and human resources. Thanks to technological advancements, the system will automatically detect suspects when they contact other persons. For example, the process of collecting evidence will be simplified: It will be possible to identify offenders by their DNA.
Blockchain technology is growing rapidly. XcelTrip truly believes — the year 2021 is going to be the exponential growth year where more use-cases will be added including Restaurant Reservations, Transport Services, Entertainment, Tours and more. It doesn’t stop here, instead, it’s the beginning of disruption! Looking at the current state of the blockchain ecosystem, we feel that the most prudent, practical and tactical way to design and architect the system is to adopt a progressive decentralization roadmap. Instead of building on a scalable but centralized platform like EOS, we feel it is prudent to stay the course with a decentralized platform like Ethereum.
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