#fraud

Blockchain technology has been used to pilot Brazil's digital real. Execution took place on the Stellar infrastructure of the local Mercado Bitcoin exchange. The experiment included a KYC procedure, a fraud protection check using decentralized identity identification, and direct fund transfers. All worked well, no violations of the country's laws were detected (thankfully, the tests had not yet been banned), though Mercado's head teased that the Central Bank's real motive was to see how things would unfold if it lost its direct control over money.

Ameen Soleimani, one of the first contributors to the scandalous Tornado Cash crypto mixer, has announced the launch of a new mixing service called Primacy Pools, which is based on the TC code. Now, every hacker and criminal will have a chance to demonstrate that they are not engaging in any malicious activity (but not for sure). What is clear is that honest users will be able to prove that they have not committed fraud and are therefore legitimately using the privacy-enhancing service. Predictably, the new service uses zero-knowledge proof, which is the main trend of 2023. It is a protocol that confirms information without disclosing it. Your move, SEC!