According to
Cointelegraph developers from Lebedev Physical Institute have successfully developed a prototype of new crypto analytics system called "Transparent Blockchain".
They claim this system effectively uses artificial intelligence to reduce anonymity of transactions in blockchains like Bitcoin, Ether, Omni, Dash and Monero.
In essense, the system enables blockchain analysts "to track the movement of digital financial assets and identify crypto service providers to fight illicit activity related to digital assets".
What do you think? Should we be worried?
Bitcoin transactions aren't anonymous, Blockchain is already public and thus transparent. As for Dash and Monero which are also mentioned in the article, that's another story. Whatever they're planning to do with Bitcoin blockchain, I'd be cautious about it. Russia is not the kind of country that I would trust with such a task. The level of corruption is high, the police is very militarised, human rights violations are not irregular. So there's a good chance the officials would use the system to track down someone's money for their personal reasons or to sell the data to someone. If there were a way to ensure the system is indeed only used to fight criminals, it's one thing. But since it's not the case, it's worrisome.
because privacy coins are not mentioned by the Russian intelligence team and it the article writers that mention privacy coin in other to get our attention. How is it possible to track a transaction which it does not exist on blockchain and only disclose to the parties involved?
Speaking of Russia corruption level which is well know and I dont think people will trust them but I'm sure the device they created to target bitcoin transactions.