Utilizing blockchain technology can serve many different purposes. The new smart contract written by the SIRPA is rather interesting to take note of in that regard.
It marks the first time a smart contract has been developed on Tezos by a public authority.
SIRPA Embraces Tezos for a Unique Purpose
In this contract, SIRPA will allow the French Gendarmerie’s cybercrime division to obtain cryptocurrency seized by Europol.
Europol, as well as other global law enforcement agencies, has begun a crusade against darknet users several years ago.
Since Bitcoin is the most commonly used currency for these illicit activities, plenty of funds have been seized to date.
With this smart contract on Tezos, the SIRPA division can acquire seized cryptocurrency from Europol to cover operational costs.
It appears this smart contract has been active since September of 2019.
The choice to use Tezos is remarkable, as it is not the only network capable of supporting this type of functionality.
At the same time, the main Tezos research and development center is located in Paris, France.
From a geographical point of view, it makes sense to choose the solution with a base in the same region.
For SIRPA, the main objective was to ensure funds remain auditable and traceable.
Only permitted individuals are able to access and interact with the smart contract on the Tezos blockchain.
The main benefit of this approach is how the SIRPA’s cybercrime unit can keep its operations under wraps for longer periods.
Being able to request funds and cover expenses without disclosing operational parameters can be a valuable tool.
Image(s): Shutterstock.com
The post French Cybercrime Division Utilizes Tezos to Acquire Seized Crypto From Europol appeared first on NullTX.
