Friends, Blockchain provides users with a
digital public record of Bitcoin transactions (the digital currency through
which these transactions are conducted) that have been executed by a particular
entity. It is inherently difficult for hackers to manipulate. Copies of the
Blockchain are distributed across potentially thousands of participants in the
database. The results is that hackers would have to individually access and
manipulate every single copy of the distributed Blockchain. Leveraging
a Blockchain platform for AML
nationwide or across a geographical region will give regulators, auditors and
other stakeholders an effective and powerful set of tools to monitor complex
transactions and immutably record the audit trail of suspicious transactions
across the system. We believe that Blockchain applied to AML has great
potential benefit to the banking and securities institutions such as the US SEC
and FINRA. And in turn, may also help impede nefarious transactions of
state-sponsored terrorism and mitigate strategies intended to subvert economic
sanctions placed on Russia, Iran and North Korea. Send us your
views. Lawrence, Cryptocurrency
Academy (https://cryptocurrencyacademy.blogspot.com)
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