Rand Corporation, the US-based think tank and non-profit institution, has revealed a study that people who are using Zcash for illegal or criminal purposes in the dark web are not skilled in technology or using crypto.
On May 7, it has been reported by 65-page that Rand Corporation emphasized that criminals have doubts regarding the anonymity offered by Zcash.
However, the research highlights that the governance of Zcash and its branding as compliant with AML/CFT regulations may make it less responsive to exploitation for illegal or criminal purposes.
There is one aspect that the study reveals many criminal’s perceptions of Zcash – market conditions, rather than specific characteristics of a particular cryptocurrency.
The report also suspects that criminals choose to “go where the money is,” explicitly mentioning Bitcoin (BTC), as they note that Bitcoin has a “hegemony” and gives criminals confidence in their illegal activities, due in part to its popularity.
Likewise, the study also highlights that criminals do not consider Zcash practical in terms of usability.
The US-based think tank highlighted in a study a widespread lack of knowledge on cryptos among criminals https://t.co/MbGKAg0wGT — Cointelegraph (@Cointelegraph) May 7, 2020
Darknet analysis revealed that Zcash has a minor to non-existent presence, as this may show that it is unattractive to users of these illegal sites.
Also, the report explains that most criminals are not using shielded Zcash payments, which would help to protect their identities. Researchers speculate that these users “either do not understand the Zcash operating model or are not aware.”
The study explains:
“Bitcoin is still perceived to be the dominant cryptocurrency for illicit or criminal activities on the dark web.”
As per the report, Rand Corporation clarifies that studies on the use of cryptocurrencies in illegal activities remain “an emerging field.”
Thus, Rand Corporation also published research on illegal transactions on the dark web in 2019 by maintaining the idea of Bitcoin’s popularity in criminal activities.
Source: Cointelegraph | Image: Entrepreneur