Bitcoin tracker launched to help provide transparency on coin provenance
Longhash, a cryptocurrency and blockchain media and analysis site, has launched a bitcoin tracker as a tool for investors who are concerned about the provenance of their bitcoin purchases.
The company said it aimed to “offer more peace of mind to investors, regulators and the general public” with its tracker that can trace the origin and movements of bitcoin tokens through the elaborate maze of transactions it has passed through.
Most bitcoin transactions are pseudonymous – written through a false name so, to all intents and purposes are anonymous – making them attractive to criminals, Longhash says.
Mainstream investors seek transparency
It believes, however, that eventually for bitcoin and other cryptocurrencies to become mainstream and attract institutional investors the market will have to become more transparent. With this will come the tools to provide that transparency.
Institutions will be reluctant to trade without knowing exactly with whom they are trading. Therefore, Longhash has created a bitcoin address search to its engine.
“We are not revealing the identities of Bitcoin holders,” Longhash explains.
“We just hope to offer more peace of mind to investors, regulators and the general public. The mainstream perception that cryptocurrency is associated with crime is not good for the industry as a whole.”