Can Crypto Tracking Technology Help Stop Piracy?


Despite the popular notion that cryptocurrencies are anonymous havens for criminals, the truth is, the majority of crypto transactions can now be tracked.

Government's can use their close relationships with banks and verified crypto buy-sell platforms, to easily link transactions to fixed wallet addresses.

Therefore keeping a reliable record of almost every transaction ever made. This has been possible for a while, but databases that actively catalog all these transactions along with identification data are only just beginning to be invested in by governments across the planet.

So does this tracking technology help to track down pirates profiting from crypto?

Well, in some cases yes - the FBI recently helped the German Authorities in gathering $29 million in bitcoin from a former German piracy giant.

However, new cryptocurrencies, like 'Monero', have been developed from the ground up, to prevent any kind of public record which links transactions to wallets. The only way to trace currencies like 'Monero' appears to be tracing transactions on monitored buy-sell platforms.

To put it simply, if a user purchased 'Monero' using a credit card or debit card on a verified platform, then that transaction amount as well as the platform that they purchased the crypto on would be traceable.

Unfortunately, this would not help in tracking of any payments made with the 'Monero' currency, especially if those payments where also received by a seller using the same currency, but it would help authorities to identify which individuals purchased 'Monero'.

The only foreseeable way to trace all crypto transactions online may be for governments to build and train quantum computers and artificial intelligence based technology to unmask individuals that hide behind encryption, with the NSA reportedly having cracked some forms of encryption already, this may be possible in the future.

It's important to point out, that cracking all forms of encryption would have serious consequences for the security of any encryption based technology and the privacy of all people online, so even though it may be a good way to track cyber criminals, it wouldn't be good from a security perspective - it would also be bad for governments themselves as it would allow anyone to hack anyone.




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Pirates have attempted to change perception on the right to sell 'backup copies' of digital files..

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A Closer Look

Open discussion on the potential for A.I in the copyright world..

World Intellectual Property Day Lecture

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