By now you’ve likely heard a lot about Bitcoin as investment, at least if you tune in to cable news. But you might not have heard much about Bitcoin as a transnational security issue. Although the concept of a digital currency is not itself new, Bitcoin is a disruptive technology in that it is the first digital currency to operate without any sort of central authority. It is a peer-to-peer currency, which means that users can make transactions without the involvement of any third-party entity; Bitcoins can be sent directly to their intended recipients. The unique features of this currency make it an attractive option for users concerned with maintaining privacy and anonymity online. Unfortunately, the same characteristics that make Bitcoin attractive to those with a libertarian bent also make it appealing to criminals.
Bitcoin is useful for making illegal purchases because it does not require…
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