Even the Snake is after the money!

Strange and Mysterious Problem

I woke up this to a very interesting story. Just when I thought I had heard all the ridiculous reasons a government could give for stolen public funds. In this case it was the case of a mysterious snake supposedly "eating" N36000000.00 ($100000) from a government agency in Nigeria responsible for the entrance examinations into Universities in the Country - the Joint Admission and Matriculation Board (JAMB). It is clear to me this is just another case of misappropriation of funds from the public sector. What is remarkable are the bogus excuses that the government officials give to the public for missing funds. To use my brother's words: not even in Alice in the Wonderland do such wonders occur.

New Use case for SmartCash and BlockChain Assets

In a country with blatant misappropriation of public funds, is there a case for the implementation of blockchain technology? One of the benefits of the public blockchain is the audit trail. The transparency of the blockchain will at least show the path where the funds have gone. Will that be enough? After the recent case of crypto thefts at NiceHash, CoinCheck and more recently the BitGrail "hack" we start to ask ourselves has there been any benefits to the public ledger? The funds are stolen just as easily and the worst part is we all see it and can currently do nothing until it is spent then its gone.
How might the public ledger of the cryptocurrency like smartcash have made things different in this case:

• The snake would not be able to eat a digital asset seeing it would need computer skills and a lot more or would there emerge a silthero type snake to gobble up the crypto currencies and digital assets?

In light of the determination of some to obtain by any means what rightfully belongs to other we have to ask ourselves; our shift to privacy on the Blockchain with many implementations of privacy such as; zero knowledge, ring transactions, mixing, obfuscation of transaction and many variants or combinations with the main objective to keep transaction private and untraceable are we enabling criminals with tools to go untraced? It would be argued criminals would use what ever they can and create loop hole when there are none. how can we check this on the blockchain? Is going to emerge some kind of cyber policing agency with abilities to investigate blockchain related thefts?

It would appear it is within some humans nature to exploit others. As we grow our investment in #smartcash with investments in #smartnodes, how may we take care of our assets and #smartcash at these times?

• Keep private keys securely and offline.
• Backup, backup and backup all your privatekeys, wallet.dat, and passwords
• Invest in a hardware wallet Trezor or Ledger as soon as we have one for smartcash
• Do NOT send your private key to the "helpful" member(s) of any forum
• Practice using unique passwords on various wallets and websites
• Use a good antivirus software and keep it updated
• Include two factor authentication where possible - Google Authenticator or Authy
• Keep your smartcash wallet and smartnodes software updated
• Always download updates from trusted source which in this case would be https://smartcash.cc/ and http://smartnodes.cc/
• Remember, if you can remember your password it is probably not strong enough

What do you think is the way forward? do you think more privacy on the blockchain would increase criminal activities? Should we advocate for more privacy or less privacy on the blockchain for security? Let me know your views. Leave a comment, join the conversation.

---

Learn More About Smartcash:
Smartcash.cc

Join Our Community:

FORUM
TWITTER
REDDIT
FACEBOOK
TELEGRAM
DISCORD
INSTAGRAM

@Nitego

Credit: Image of Eagle and Snake - EFFC Nigeria
Thank you for visiting me. Please leave a comment, upvote and resteem
My Smart Address: SZuD6sbjBwToeYcuU6Td4MAqU5H5SWi9MJ

Please Read My Other Articles
SmartCash Coming To A Shop Near You
SmartNodes - Stay the Course
It's Raining Smartcash
When the going Gets Tough
How to Invest in SmartCash part 1 -for Non Geeks
How to Invest in SmartCash part 2 - for Non Geeks
Introduce your Teens to smartCash
SmartCash Coin of the Future