September 27, 2020

Katherine Hon: “Bitcoin technology helps solve financial crime”

Former U.S. Attorney General and current partner at investment firm Andreessen Horowitz, Kathryn Haun) believes that open blockchains help solve crimes.

Hon called blockchain transactions “digital”bread crumbs ”, which, one by one, lead to a real criminal. And law enforcement is much more effective at combating crimes committed with Bitcoin than monitoring traditional financial flows.

“The government was able to use the sametechnology in order to find criminals. Without the blockchain on which Bitcoin is based, we would never be able to catch these people, ”the former US federal attorney emphasized.

At the same time, Hong noted that scammers,using credit cards and international bank accounts is much more difficult to catch. However, some crimes cannot be solved at all if they were committed with the help of cash.

“Sometimes the very first users of new technologies are criminals. The criminal world is always looking for new ways and ways to use systems, ”said Katherine Hon.

Partner Andreessen Horowitz also said thatthe company does not plan to refuse to participate in the Libra project. Last week, several large financial companies decided to review their participation in the project, and PayPal confirmed a complete rejection of it. But Andreessen Horowitz plans to take an active part in the development of stablecoin.

“I think it’s a really dangerous trend and a very dangerous precedent to close the technology before it’s created,” said Katherine Hon.

According to Hon, the lack of regulatory transparency is one of the main reasons that large companies continue to remain aloof from the cryptocurrency industry.

Andreessen Horowitz recently announced the launch of a special training course for entrepreneurs, which will talk about the launch of cryptocurrency startups.

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