DON’T GET INTO ANY CONTRACTS WITH LAW ENFORCEMENT UNTIL YOU READ THIS.
Whether we like it or not, crime is a part of the human race. We can go forward and start naming the various vices in which they come in like armed robbery, cyber thieves, money laundering, burglary, etc. We can also pinpoint the rise of crime as a result of various institutions that have failed in bringing up kids in the right manner. The family they came from, the churches or mosques they worship, the schools they attended and the type of friends they kept. It all bores down to helping the world solve some of the mess kids who grew up not having a proper family upbringing, religious tolerance, good education, and misguided friends throw at us.
Don’t get me wrong; I am not saying it is only kids from challenging backgrounds that end up getting into crime or prisons.
Law enforcement agencies like the FBI and state police can only do as much as their workforce can carry. For example, if the ratio of the police to the American population is one police to every fifty citizens, there is not much he could do in protecting those people.
Another problem that might limit his efficiency in solving crime apart from human resources is the tools for fighting crimes and searching for where crimes take place. Searching is a very daunting task when we find out that, not all crime that happens gets reported to law enforcement agencies. Some get swept under the rug to avoid;
• A stain on their record
• Victimization after the crime is solved
• Reprisal attacks, etc.
Realistically, the law enforcement agencies cannot do it on their own; this is why community policing or public assistance is always promoted to help solve crimes. Crimes happen every second that gets unnoticed, but with sufficient community policing and public assistance, it can all be nipped in the bud.
Recent history, however, has shown us just how much people are no longer willing to give police tips in regards to crimes they witnessed, the victims involved and what transpired within a given time frame.
It is not far-fetched that this is as a result of citizens losing faith in law enforcement agencies. For example, if an organization assign for information about a crime, that whosoever reports about such crimes and gives objective data will be adequately rewarded, but tipsters don’t get their reward under certain technicalities law enforcement agencies come up with to rub their faces in the mud. Sometimes they are even seen as the perpetrators.
Another problem would be the anonymity of the tipster. If a community person who witnessed a crime and reports such to the authorities, how safe is he going back home and sleeping peacefully in his bed afterwards?
It is in relation to this that a Blockchain name “Xbounty” was born.
Why do we need Xbounty?
The issue about the anonymity of tipsters and making sure they areproperly rewarded is one of the gaps Xbounty is trying to close with it’s service.It’s service will help mask the faces of anonymous tipsters that no security agency in the world will be able to trace with smart contracts powered by blockchain technology. Tipsters no longer have to worry about a leak in law enforcement agencies about crime members who go ahead to victimize or possibly kill tipsters of a particular crime.
It eliminates witness protection from the table, where the witness face is known, and reprisal attacks can take place. Most of the contract with tipsters by law enforcement agencies are usually oral which doesn’t hold water if both or one of them renege on their earlier promise or information. Xbounty smart contract makes sure tipsters are rewarded. It also makes sure the information given is tangible enough to make an arrest, admissible in court and seek for conviction of victims.
How does Xbounty make all this possible?
We live in a digital world at present; one of the beauties of digitalization is the power of innovation. Cryptocurrency and Blockchain have made payment online smooth with no interference whatsoever by any organization or individual. It is with such a truths worthy system that our DAPP was created to run with in the first place.
Xbounty has been able to infuse its decentralized platform(dAPP) into the scheme of things, i.e., help anonymous tipsters get their reward from law enforcement agencies after providing valuable tips.
Xbounty makes this happen by drafting a smart contract that is signed by the tipster and the law enforcement agency looking for a verifiable tip that could lead to an arrest at the end of the day.
Xbounty made all possible by the subscription to a token in cryptocurrencies like Bitcoin, ethereum, etc. which is converted to pay the tipster when the information is termed verified and leads to an arrest.
The token Xbounty currency (XB) is what is traded on the platform and can be converted on the platform into prizes and cryptocurrencies by the anonymous tipster who receives a reward. If the problem is not solved as regards to the information provided by the tipster, the money returns in the stated cryptocurrency.
The Xbounty platform serves as an escrow between the tipster and security agencies by issuing a smart contract that is entered into in utmost good faith and with a sane mind of what is to be obtained from both parties at the end of the day. When the deed is done, the stated amount is released. The beautiful thing is everything is done online with no place for a face.
What is a smart contract?
Smart contracts enable insurance companies, law enforcement agencies to draw up terms that could lead to the eventual capture of a criminal, famous persons and those that have failed to turn up for court orders. Its algorithm work within the boundaries of the network that draws a well-understood contract that Tipsters can understand.
In other words, the Xbounty platform is a bank per se that oversees how the best part of the contract is melted out. Xbounty does these for an honest commission and exclusive anonymity between both parties with the least minimum risk.
The efforts of governmental agencies to increase spending on security expenditure will lead to a non-fruitful conclusion if every form of security concerns is not checkmated. One of the best ways to do that is community policing.
Xbounty in its effort to help curb crimes would help in bringing out people who might be too afraid to raise their voices for fear of reprisal attacks into a more secluded platform where they can air whatever crime they had witnessed happen and still maintain their healthy life. The amount of money lost by citizens and taxpayers to criminal elements runs into billions from, stolen properties, drug dealing, cyber crimes, missing people, terrorist threat, and corruption. It is enough to want to give anyone a meaningful reason to come out and speak as soon as that any crime occurs.
Xbounty makes sure they are given a voice as soon as tipsters are needed to solve such crimes. If law agencies and people are willing to use Xbounty platform, it will serve more than enough purpose in the fight against crime and some of them are;
1. It stores its binding contracts on blockchain that cannot be changed except the tipster renege or produces false information. In that case, the cryptocurrency is returned to the security agency.
2. It eliminates any form of paperwork associated with the using an offline intermediary let say a bank for example. The loss of that doesn’t create room for any oversight functions that might need to be done by a regulatory body.
3. The money is entwined with the contract in such a way that, there is none without the other.
Most people might ask why cryptocurrency is used as a form of payment. Anybody who has studied the Bitcoin would know why Billionaire investor Michael Novogratz has invested in the Bitcoin and the crypto business over the years. It is because of the enormous potential Blockchain technology possesses.
Blockchain technology has been adapted to our dApp system of Xbounty to assure users that it is an entirely non interruptive platform where every transaction involving crypto is made open.
That alone has led Billionaire Michael Novogratz to invest 10% of his net worth in the platform, and that is why Xbounty should be trusted as well.
Xbounty comfortable and friendly user interface allows an agency with no programming skills to draft a smart contract that wouldn’t reveal the identity of both parties involved in the agreement.
The reward will not only entice people to come forward because it is the right thing to do, but it will also make them sure that the money will be received and their lives will go back as healthy as it was without any disturbance.