Craig Wright, one of the notorious minds behind Bitcoin SV and, possibly one of the original creators of Bitcoin (or so he claims) has taken the media by storm again this week after making bold claims that he can trace and, put a name to anonymous crypto transactions, such as those you might find within Dash, Monero and Zcash for example.
The reports come straight from Wright’s recent comments, leading many people to refer to him as the Donald Trump of the crypto space. Whilst this is probably meant to be an insult, I imagine he will accept it as a compliment.
According to FXStreet, Wright has said:
"Yes, I can make ZCash and Monero completely traceable… A means to start monitoring it all and attributing. And, responsible disclosure is not those teams. Have a nice life. Not my issue, you use an anon coin, a crime coin as this is all they are, and you are in many countries already committing a crime. So, I would rather teach the Feds how to stop this than help a bunch of losers help criminals.”
In essence, Wright believes that he has created a tool that allows him to trace transactions on private networks, through this tool he can monitor the networks and reduce instances of crime. Wright believes that fundamentally, private coins like Dash and Monero have only been set up to facilitate criminal activities, he refers to private coins as crime coins and suggests that even interacting with such cryptocurrencies should be considered a crime, for some reason.
This is a sentiment that is mirrored at a government level across the world. Whilst many authorities accept cryptocurrencies, they are worried about privacy based coins simply because they can indeed help criminals remain undetected, whilst still passing funds and money across accounts. If Wright’s claims are true, this could all change, using this tool he has built.
Has he actually built a tool?
We don’t know, and to be honest even if he has, it probably doesn’t work very well - privacy focused coins are built to be ultra private, even the most skilled and technical developers can’t access transaction data because the data was never really there in the first place. We think Wright is just flexing here, in order to get people to talk about him again, which is fine we guess.