Capitalize Financial
No Result
View All Result
  • Home
  • World
  • Economy
  • Business
  • Markets
  • Real Estate
  • Cryptocurrency
Capitalize Financial
  • Home
  • World
  • Economy
  • Business
  • Markets
  • Real Estate
  • Cryptocurrency
No Result
View All Result
Capitalize Financial
No Result
View All Result
Home Cryptocurrency

Democratic Congressman Bill Foster Says Crypto Backdoor is Key to Unmasking Bad Actors

by capitalizefinancial
June 30, 2021
in Cryptocurrency
0

U.S. Representative Bill Foster (D-Ill.), who also co-chairs the blockchain caucus, believes a trusted third-party, such as the courts, should have access to a crypto backdoor.

In an interview with Axios on Tuesday, the congressman said until the industry could grapple with crypto-ransomware attacks, total anonymity would be “very hard to sustain.”

Foster said new legislation and rules could establish a type of pseudo-anonymity where only judicial powers would have access to certain information. The congressman suggested allowing the court to use its access to a “very heavily guarded key” a “cryptographic backdoor in essence” allowing it to reverse transactions on the blockchain.

“You (authorities) have to be able to go to court to unmask participants under some circumstances,” said Foster. “It does not have to be visible to the whole world.”

The congressman also drew a distinction between digital and physical assets in the context of ransomware attacks, providing an example of unmarked dollar bills being put in a trash can versus total anonymity afforded to hackers.

Read more…

Previous Post

Biden’s infrastructure plan would cut U.S. debt and slightly increase economic growth, Wharton study finds

Next Post

Giannis Antetokounmpo’s knee injury suddenly throws Bucks’ march to NBA Finals into question

Next Post
Giannis Antetokounmpo’s knee injury suddenly throws Bucks’ march to NBA Finals into question

Giannis Antetokounmpo's knee injury suddenly throws Bucks' march to NBA Finals into question

Search…

No Result
View All Result

Subscribe Us

By clicking on Subscribe, I confirm that I have read and agree to the terms set forth in the Privacy Policy and Terms of Service including Capitalize Financial’s ability to use and share my information and Capitalize Financial, or third-party companies and business partners, may send me offers for products and services at the email address I have provided. I understand that my information may be supplemented with additional information obtained from other sources.

Recent News

Fear The Walking Dead Proves The Problem With Negan’s Redemption

Biden offers logistics support to ease formula shortage

Categories

  • Business
  • Cryptocurrency
  • Economy
  • entertainment
  • finance
  • Georgia
  • health
  • Markets
  • Music
  • Politics
  • Real Estate
  • receipe
  • Science
  • science
  • Sports
  • Sports
  • Tech
  • Travel
  • World

Site Navigation

  • Contact Us
  • Privacy Policy
  • Terms Of Service
  • Unsubscribe

Capitalize Financial, a news portal which provides the financial news global wide.

  • Contact Us
  • Privacy Policy
  • Terms Of Service
  • Unsubscribe

© 2021 Capitalize Financial All Rights Reserved

No Result
View All Result
  • Advertisement
  • Contact Us
  • Homepages
    • Home 1
    • Home 2
    • Home 3
    • Home 4
    • Home 5
  • World
  • Economy
  • Business
  • Markets
  • Real Estate

© 2021 Capitalize Financial All Rights Reserved