20.02.2025 14:20
Dr. Ekrem Teymur, who explained the advantages of blockchain technology in terms of security and data tracking, emphasized the reliability of blockchain despite the absence of a central recording system. Teymur noted that each transaction is recorded in an encrypted manner and illustrated how blockchain is used in identifying criminals with examples.
The advantages of blockchain technology in terms of security and data tracking are increasingly being discussed today. Dr. Ekrem Teymur made important statements regarding this issue.
Blockchain, as its name suggests, is a technology formed by the combination of the words block and chain. This system stands out with the absence of a central record system while ensuring the secure buying and selling of cryptocurrencies. Dr. Teymur stated, "There is no central database like in the banking system. However, every transaction is encrypted, recorded, and made immutable."
"DATA SECURITY AND TRACKING MECHANISM"
One of the most important features of the blockchain system is the ability to track transactions retroactively. Dr. Teymur mentioned, "Each transaction is recorded within a specific block and added to the end of the chain. These blocks are protected by special encryption methods. If any changes are made to a past record, the integrity of the chain is compromised, and this is immediately noticed."
This feature brings the use of blockchain technology to the forefront for securing legal documents such as title deeds and contracts. Stating that this issue is being discussed in Turkey as well, Dr. Teymur emphasized that changes made in documents can be detected through blockchain, making legal processes more transparent.
"CRYPTOCURRENCIES AND CRIMINAL ORGANIZATIONS"
The decentralized structure of blockchain also attracts the attention of criminal organizations. Dr. Teymur pointed out the misconception that money transfers cannot be tracked, saying, "There is no central record mechanism, but every transaction is recorded. The only thing that is not recorded is who owns the wallets. However, when these wallets are matched with real individuals, criminals can be identified."
Dr. Teymur noted that user identity information is verified on cryptocurrency exchanges and that governments can request this information to prevent crimes, stating that legal regulations are becoming increasingly stringent in this regard.
"EXAMPLES OF CRIME AND THE POWER OF BLOCKCHAIN"
Providing examples of how blockchain technology is used to catch criminals, Dr. Teymur referred to incidents that occurred in America. He explained that a 24-year-old young man in Miami, along with his friends, entered the homes of individuals who owned cryptocurrencies, threatened them, and transferred the money from their crypto wallets to their own accounts. Dr. Teymur said, "These criminals thought they would not be caught because they did not physically steal an item. However, the FBI tracked the cryptocurrencies leaving the victims' wallets, identified the criminals, and these individuals had to admit their crimes in court when faced with evidence."
In a similar case, Dr. Teymur mentioned two individuals named Kane and Hampton, who manipulated a cryptocurrency they created called Hydro between 2018-2019 for speculation. He stated, "These individuals artificially inflated the price by conducting fake transactions through accounts they opened in South Africa. However, the FBI proved that the creators of the money were manipulating it by examining blockchain records, leading to their imprisonment."
"TRANSPARENCY OF BLOCKCHAIN AND FUTURE APPLICATION AREAS"
Finally, emphasizing that blockchain is much more transparent and reliable compared to the banking system, Dr. Teymur stated, "There is no central record system in the world of cryptocurrencies. However, since every transaction is recorded and immutable, identifying criminals can be easier compared to the banking system," indicating that blockchain will be used in many more areas in the future.