Читать книгу Cryptocurrency All-in-One For Dummies онлайн

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From a customer perspective, there’s already an audit trail for everything you purchase with a credit or debit card. From an institutional perspective, it’s beneficial to have audit trails because it increases transparency of documentation and life cycles of the movements of these assets between different regions. It adds legitimacy to the trading of assets and allows them to bake compliance into their day-to-day transactions.

The “right to be forgotten” rules in Europe, which allow citizens the right to not have their data forever propagated on the Internet, are a difficult challenge for blockchains, because blockchains can never forget. Governments and corporations would have permanent historical records of every transaction, which could be devastating to national security if they were exposed to the public. In a company’s case, it may allow their competitors to have an inside scoop on how that company is investing.

The biggest challenge to using a permissionless blockchain such as Ethereum or Bitcoin would be in guaranteeing that you haven’t sent money to an OFAC (Office of Foreign Assets Control) country to support terrorism. The answer is that you can’t, because they are somewhat anonymous and anyone can open a wallet. It is possible to create algorithms to trace transaction movement — the U.S. government has been doing this for years — but anyone can move value in a permissionless world.