Sandia Labs developed Bitcoin tracking software

The research firm Sandia National Laboratories is working on a block chain analysis tool that law enforcement agencies should enable to dismantling Bitcoin transactions. Bitcoin was at best only pseudo anonymous in the past. The design and the transparency of the block chain offers everyone the opportunity to access the transaction details via block Explorer to get. Nevertheless, it is currently very cumbersome to trace the entire transaction history of each Bitcoin tokens.

To better facilitate this future Sandia Labs is working on a software to simplify Bitcoin tracking, so as to give law enforcement an effective tool in the hand. The term “illegal Bitcoins” are just summarized both thefts of digital currency of Exchanges or wallets as well as the use of these illegal activities in the Dark Net. However, the advent of such Blockchain- and tracking analysis tools also pose a risk for the Bitcoin network. Without clearly defined rules for state regulation, the expectations and ideas for digital currency may be undermined.

According to Sandia Labs, the tool is currently being developed for the US Department of Homeland Security’s Science and Technology directorate. Nevertheless, the tool should be in the future to other authorities, States and law enforcement authorities. The new tracking tool the authorities have the possibility certain Bitcoins, which have previously been used for illegal activities, to put on a blacklist. This could affect the value of “legal” Bitcoins positive. Although not all of the Bitcoin community must not forget to be happy about this development that characterized the bitcoinbezogene cybercrime can be suppressed.

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