Amazon Patent Will Real-Time Track Bitcoin And Other Cryptos

Crime, News, Regulation | April 18, 2018 By:

A subsidiary of Amazon.com, Amazon Technologies Inc. has received patent approval on a streaming data marketplace that would allow identification and real-time monitoring of cryptocurrency transactions. The information was released April 17.

Developers in law enforcement and other areas could potentially “build real-time dashboards, capture exceptions and generate alerts, drive recommendations, and make other real-time business or operational decisions.” Information would be gleaned from  “web site click-streams, marketing and financial information, manufacturing instrumentation and social media, operational logs, metering data and so forth.”

Further identification would be possible through a crypotcurrence market that would be developed.  “For example, a group of electronic or internet retailers who accept bitcoin transactions may have a shipping address that may correlate with the bitcoin address. The electronic retailers may combine the shipping address with the Bitcoin transaction data to create correlated data and republish the combined data as a combined data stream.”

The patent application cites a law enforcement agency as a potential customer that could “receive global bitcoin transactions, correlated by country, with ISP data to determine source IP addresses and shipping addresses that correlate to bitcoin addresses.”