Cybersecurity experts recently met with lawmakers to talk about ways for preventing an event like May’s international WannaCry ransomware attack from wreaking havoc in the U.S.
But one topic was not brought up: bitcoin, the virtual currency that ransom hackers often ask to be paid in exchange for unlocking infected computers.
Robert Knapp, CEO and Co-Founder of CyberGhost, a secure private networking service, explained to Circa that, although bitcoin wallets — or accounts — don’t require a verified identity be attached, all bitcoin transactions are made on a public ledger, which should make the currency something regulators with a desire to weed out wrongdoing would want to embrace rather than outlaw.
“That’s what everybody dreams of that wants to regulate banks, that we could see every transaction done. And that exactly happens on the bitcoin blockchain,” said Knapp.