Former U.S. Attorney General: Blockchain transactions - “digital bread crumbs”

Former U.S. Attorney General and current partner at Andreessen Horowitz investment company Kathryn Haun believes open blockchains help solve crimes.

Hon called blockchain transactions "digital bread crumbs," which, one by one, lead to a real criminal. In addition, law enforcement agencies are much more effective at combating crimes committed with bitcoin than monitoring traditional financial flows.

"The government was able to use that same technology to actually track down criminal activity it might not otherwise have been able to. Without the technology underlying bitcoin, we never would have been able to catch those people," 

said the former US federal prosecutor.

At the same time, Hon noted that fraudsters using credit cards and international bank accounts are much more difficult to catch. However, some crimes could not be solved at all if they were committed with the help of cash. 

"Sometimes, the earliest adopters of new technologies are criminal. Criminals are always looking for loopholes or new ways to exploit systems," 

said Kathryn Haun.

Partner at Andreessen Horowitz also said that the company does not plan to refuse to participate in the Libra project. Last week, several large financial companies decided to review their participation in the project, and PayPal confirmed a complete rejection of it. However, Andreessen Horowitz plans to take an active part in the development of stablecoin. 

"I think it would be a really dangerous thing, and frankly a dangerous precedent to start shutting down technology before it's built," 

said Kathryn Haun.

According to Haun, the lack of regulatory transparency is one of the main reasons that large companies continue to remain aloof from the cryptocurrency industry.

Andreessen Horowitz recently announced the launch of a special training course for entrepreneurs, which will talk about the launch of cryptocurrency startups. 

SOURCE