Know Your Transaction (KYT)

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Revision as of 02:04, 1 February 2020 by wiki_crypto>Zeb.dyor (Created page with "* [https://news.bitcoin.com/know-your-transaction-is-the-kyc-of-blockchain/ From] Bitcoin.com (27-4-2018): ''"KYC have lately become the norm for crowdsale r...")
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"KYC have lately become the norm for crowdsale registration and exchange verification. Now, KYT is on the rise, and it threatens to blacklist bitcoiners whose cryptocurrency is deemed unclean.

One company whose name is synonymous with the rise of Know Your Transaction is Chainalysis. The firm, who specialize in following the money trail through the blockchain, are a controversial company to say the least. On the one hand, their software has helped trace the movements of Mt Gox’ stolen bitcoins. But on the other hand, cryptocurrency users don’t like to think of their every transaction being recorded and associated with their real world identity in perpetuity. And having recently raised $16 million, Chainalysis’ snooping tools are coming soon to a blockchain near you."