ABSTRACT
Ledgers have been around for thousands of years to keep track of transactions. As societies develop, so does the use of ledgers. Today, ledgers have evolved into digital and computerized formats. At the basic level, blockchain technology is a disruptive new platform technology that enables the improved ability for verification and recording of exchange of value among an interconnected set of users. Blockchain technology offers a secure and transparent way to track the ownership of assets throughout the transaction process: before, during, and after transactions are recorded. The name blockchain emanates from the format of the technology. Every transaction is recorded on a block and a set of transactions across the entire platform is the chain, therefore blockchain. One of the biggest challenges faced by law enforcement agencies is the anonymous nature of digital currency transactions. The lack of transparency makes it difficult for law enforcement agencies to trace the movement of funds and identify the individuals involved in illegal activities. As a novel technology, regulatory and governance considerations must be thoughtfully incorporated into blockchain-based networks to truly experience the potential of the technology. The security of physical assets is a major concern for organizations. Removing human intervention from the process creates an environment that prevents error and deception. Blockchain has been a rapidly evolving Internet database technology that has been implemented in several industries to gain efficiency.
