{"id":400863,"date":"2019-10-08T22:00:44","date_gmt":"2019-10-08T22:00:44","guid":{"rendered":"https:\/\/wncen.com\/?p=400863"},"modified":"2019-10-08T16:37:34","modified_gmt":"2019-10-08T16:37:34","slug":"former-doj-prosecutor-turned-crypto-vc-bitcoin-helped-fight-crime","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/former-doj-prosecutor-turned-crypto-vc-bitcoin-helped-fight-crime\/","title":{"rendered":"Former DoJ Prosecutor Turned Crypto VC: Bitcoin Helped Fight Crime"},"content":{"rendered":"
Ever since Facebook<\/a> announced its crypto-asset dubbed Libra<\/a>, the entire market, especially Bitcoin<\/a>, has come under fire by regulators and their fears over the asset class\u2019s use in criminal activities.<\/span><\/p>\n However, one former United States Department of Justice prosecutor turned crypto venture capitalist, says that while Bitcoin is regularly used for illegal activities, it\u2019s not responsible for those crimes, and can actually help to solve them.<\/span><\/p>\n When the Bitcoin code was first released into the wild, with it came about the emergence of a powerful, new technology called blockchain. Blockchain is an immutable, distributed ledger that records every Bitcoin<\/a> transaction, the sender, recipient, value, and more.<\/span><\/p>\n Blockchain is a revolutionary technology that will usher certain industries into the 21st century, and allow them to become more profitable, streamline processes, and more. Most can easily see the value that the technology provides.<\/span><\/p>\n Related Reading | United States Regulators Begin Crack Down on Crypto and Bitcoin Crime<\/a><\/strong><\/em><\/p>\n Bitcoin, on the other hand, is typically considered a speculative asset, with no inherent value whatsoever. It\u2019s even been demonized by government agencies for its use in illegal activities<\/a> \u2013 the same crimes that cash has been used in for decades.<\/span><\/p>\n But those same crimes would be far easier cases to crack for investigators and prosecutors if they were transactions made with Bitcoin instead of cash.<\/span><\/p>\n According to former federal prosecutor Katie Haun, after being assigned to investigate Bitcoin and its relation to criminal activities, she found that the \u201cgovernment was able to use that same technology to actually track down criminal activity it might not otherwise have been able to.\u201d<\/span><\/p>\n “Without the technology underlying bitcoin, we never would have been able to catch those people,\u201d Huan explained<\/a>.<\/span><\/p>\n Huan\u2019s investigations<\/a> oversaw cases related to Silk Road, and the Mt. Gox hack. Her involvement in the cryptocurrency space eventually led her to Coinbase<\/a>, where she became a member of their board. There she met Andreessen Horowitz partner Chris Dixon.<\/span><\/p>\nBitcoin and Blockchain\u2019s Digital Bread Crumbs Makes Following a Criminal\u2019s Trail Easy<\/span><\/h2>\n
From The DoJ, to Coinbase, to Andreesen Horowitz to Facebook<\/span><\/h2>\n