Rand Corporation Reveals People Using Zcash For Illegal Purposes In The Dark Web Are Not Skilled In Technology
Rand Corporation Reveals People Using Zcash For Illegal Purposes In The Dark Web Are Not Skilled In Technology
May 8, 2020
Rand Corporation Reveals People Using Zcash For Illegal Purposes In The Dark Web Are Not Skilled In Technology
Rand Corporation Reveals People Using Zcash For Illegal Purposes In The Dark Web Are Not Skilled In Technology
May 8, 2020

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.

ALSO READ :  The No More Ransom Decryption Tool Repository Saves Individuals $632 Million In Ransom Demands Since 2016

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


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.
Share This

Share This

Share this post with your friends!