The consequences of such a technology are vast and certainly controversial. The ability to do mass monitoring of Bitcoin transactions — and automatically alert companies, regulators and law enforcement as to which coins are associated with illegal goods — is basically the definition of surveillance. In this case, blockchain surveillance.

“Hence my view,” says Vays, “that if bitcoin becomes legal and controlled, there will be an anoncoin that will rise to the top and be 30 to 40% of Bitcoin market cap, and many useless jobs in the government will be added to endlessly fight against it."