Bitcoin: The Future For Personal Finance Or Crime? by Matthew Allen, swissinfo.ch
“Had FIFA made their transactions on blockchain, they wouldn’t be facing all these scandals,” says Guido Rudolphi, who wants to set up Switzerland’s first bitcoin bank utilising the asset transfer technology. “Everyone would have seen who sent the money and who received it.”
This statement flies in the face of conventional wisdom on cryptocurrencies. The blockchain, an online ledger for virtual currencies such as bitcoin (see graphic), has been at the centre of sensational headlines involving money launderers, illegal weapons sellers, drug dealers, paedophiles and criminal hackers.
These include the Silk Road online black market bazaar for drugs, weapons, stolen identity data and other illegal goods and the...
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