Blockchain technology is an electronic ledger under decentralised control, which allows it to evade traditional investigative measures. The best-known application of blockchain technology is Bitcoin, which has many legitimate uses but is also used for criminal purposes in the so-called dark web (i.e., the part of the internet that is beyond the reach of Google and other search engines).
Thus, a group of fifteen consortium members from seven European countries has initiated a new project to curtail criminals and attackers from using blockchain technology to avoid law detection, while at the same time respecting the privacy rights of legitimate users.
The researchers are in a consortium undertaking a three-year, €5 million project called TITANIUM (Tools for the Investigation of Transactions in Underground Markets), funded by the European Union aimed at developing technical solutions for investigating and mitigating crime and terrorism involving virtual currencies and underground market transactions.
- Project duration: May 2017 – April 2020
- Funding: H2020 SEC-12-2016-2017, This project has received funding from the European Union's Horizon 2020 research and innovation programme under grant agreement No 740558.
- Coordinator: AIT Austrian Institute of Technology
- Partner: 15 partners from 7 countries