Global sovereign currencies are regulated and mediated by central banks, with significant tracking and infrastructure capabilities to allow for secure currency transactions, to enforce government policy, and to monitor criminal behavior. These safeguards do not exist with cryptocurrencies, which enable peer-to-peer instantaneous and immutable blockchain transactions. The result: participants can sidestep American controlled transaction mechanisms. Non-state actors can fund illegal operations,…
Uncontrolled use of deanonymizing technologies, such as blockchain forensics and darknet monitoring tools can threaten long-term security and safety of digital ecosystems.
Blockchain oracles, or off-chain data providers, are key players in the blockchain ecosystem - wielding as much if not more power than miners and protocols developers. Often misunderstood and overlooked, they suffer from constant misuse and security vulnerabilities. Licensing and endorsing professional oracles is key to improving the overall health of the blockchain ecosystem.
On June 23 of this year I reported on the rumors regarding PayPal and Venmo to enable Bitcoin buying/selling:
Crypto Twitter, like many Twitter-spheres, is as full of self-affirmation and choir preaching as it is of internal holy-wars (not too unlike those described on this post). We can characterize two camps within the crypto/digital asset space. This is a gross oversimplification to be sure, but paints a picture of the space where there are a spectrum of competing ideas.