The Capital
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The Capital

10 Use Cases For Blockchain Technology And Law Enforcement

By Coins Capture on The Capital

The Use Cases

  1. Cryptocurrency is the haven to criminal activities like theft, fraud, hacking, money laundering, and malicious attacks, as there are no regulations or laws following to trace and prosecute the criminal. The problems can either be faced by investors or also such activities are conducted for the transfer of transactions or data. Many companies are trying to work on the security of the process so as to reduce or eradicate such activities. Chainalysis aims to monitor for fraudulent activities while Elliptic aims to identify the potential cryptocurrency financial crime.
  2. A chain of custody can face issues and be breached with mishandling, corruption, unfair means, lack of evidentiary tracking system, or poor documentation. However, with the help of Blockchain technology, one might not be able to physically protect evidence but can protect the data efficiently and securely. With blockchain technology, the documentation work and the process are stored along with every change made, so even if one tampers with the evidence, the person will eventually be known and held accountable. Companies like Leonovus facilitates blockchain evidence lockers.
  3. Standardizing the distributed crime reports through the interoperable system can aid the victims or people rightfully involved to log onto a platform enabling them to track the progress in their case.
  4. Blockchain technology consists of security and interoperability that can help with inter-agency data sharing without worrying about being compromised and tampered. Also, the data or the information can be shared with the means of public blockchain or private blockchain.
  5. Blockchain technology through its feature of immutability facilitates complete historical data that can help law enforcement to analyze and have access to potential criminal activities and reduce the expenditure as blockchain technology is not a part of issues like potential third-party doctrine. Bitfury is a platform for blockchain analytics solutions that also facilitates tools for anti-money-laundering and works with digital asset providers, government agencies, and financial institutions.
    Also Read, Application of Blockchain
  6. Blockchain technology is a platform that can create means to respond during emergency situations across the emergency response agencies and also to the neighboring countries or aid agencies. Guardian Circle is a community that provides emergency response network services.
  7. Approximate 18,000 law enforcement agencies are said to be in the United States while the existence of only 200 citizen review boards to facilitate a measure of trust-building accountability but the results of these boards are stated to be inconsistent. Deloitte facilitates services to corporations and governmental agencies. Services like tax, consulting, audit and assurance, risk, and financial advisory.
  8. In the blockchain, one can only add data but not alter or tamper the data already in-stored. One cannot control data in blockchain as it consists of distributed ledger leading to being shared amongst large networks of computers. Also, any data stored in blockchain stays forever along with the source just like a timestamp.
  9. Blockchain is borderless meaning anyone from anywhere can make use of this technology. So when casework involving two countries can be helped by blockchain as they wouldn’t have to go through all the long and time consuming procedural methods.
  10. Blockchain technology can facilitate accessibility, cost-efficiency, transparency, security, speed, overall efficiency, tamper-proof, automation, and integration of the data to the stream of law enforcement.

More To About Blockchain And Law Enforcement

  1. The government of the US was the first to use blockchain technology to investigate for Silk Road. It was a digital dark-web marketplace for drugs, weapons, and many illicit things but now is defunct.
  2. A project named “Police 2020” is being developed In Thiruvananthapuram, India by using blockchain technology to aid stakeholders in order to collect, access, and secure data in a decentralized manner.
  3. China’s Ministry of Public Security has built an application consisting of the blockchain technology to store evidence from the investigation in cloud storage.
  4. AUSTRAC the financial intelligence agency and the Australian Criminal Intelligence Commission has given a contract to build a system that would be based on blockchain technology to record intelligence and data generation by the police to the Houston Kemp — a Singapore based consultancy.

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