In a Wall Street Journal article regarding Binance’s complicity, allegedly unwitting, in financing Iran’s behaviors despite sanctions to the contrary, there’s this tidbit that is the subject of my post.

The funds are part of billions in crypto transactions that have flowed through Binance to networks financing Iran’s Islamic Revolutionary Guard Corps in the two years preceding the current US-Iran war, according to Binance compliance reports, blockchain data, foreign law-enforcement officials who track terrorism financing, and other crypto researchers and nonpublic documents.

It’s those blockchain data and their role in backtracking to the source of the funding that concerns me.

Blockchain is a highly useful, incorruptible means (so far; hackers and ever-improving computers include blockchain in the cyber arms race between the good guys and the nefarious) of proving the provenance of what’s being tracked, which is mostly financial transactions (again, so far). But that surveillance capability, in the hands of a government (and at bottom, there’s no practical way to keep it out of the hands of government) can be very dangerous to individual privacy, even to individual liberty.

We the People, and free citizens elsewhere in the free world, need especially to be vigilant and to respond quickly when government misuses that capability.