Its very practical that we would all have heard about all the news going on about how crypto has been used for illegal transactions and how it has been used to fund war and all that. In this post today I would just be sharing my thoughts on this and hopefully we get somewhere with it.
There is no doubt about the fact that the use of crypto has increased over the years due to it's adoption across the globe and while this is a good thing for all who invests into crypto, there are still some faults people find in it.
I've been seeing all the news of how crypto has been used to fund the war between the israelis and the hamas, I did not pay much attention to it because it social media, it could have been a rumour, but just because I didn't pay attention to it doesn't mean it's not true and also does not mean it's true. I just didn't want to bother myself with the news going all around.
Crypto has been built on a blockchain that we call decentralised and when we say decentralised, it means total control for the user and also transparency is what we all know it to be. Since the blockchain is transparent, why then are they still contemplating whether hamas has been funded with crypto! Well, i don't really know, as I said I'm not here to judge but to share my thoughts about it.
There has been a lot of scam lately in crypto and I believe this is prone to happen as the world's technology is improving day by day and many scammers are getting themselves updated on how to make easier and faster scams smoothly. That is why I always said that as an investor you should get yourself updated on new tweaks and updates on the blockchain and possible ways one can be scammed. Now with this information, you can know when one is about to happen to you and then you can avoid it quickly.
There is no doubt that illegal transactions have occurred a lot on crypto blockchain, but what can be done? We can't close down the crypto operation because of all these flaws, the only thing that can happen is to keep updating ourselves and try as much as possible to keep oneself on track. An illegal transaction is quite visible on the blockchain due to its transparency, so I guess it should be easier.
I hope you can share your thoughts about this as well and hopefully we get somewhere at a point.