New partnership aims to clamp down on use of bitcoin for child porn

By Jemima Kelly LONDON (Reuters) – London-based bitcoin start-up Elliptic and the Internet Watch Foundation, a charity that monitors online child sex abuse, will cooperate to clamp down on the use of bitcoin in online child pornography, Elliptic said on Wednesday. Bitcoin is a web-based digital currency that relies on complex cryptographic algorithms to move money around quickly and anonymously with no need for a central authority to process transactions. The UK-based IWF, which aims to eliminate child pornography on the internet, has given Elliptic – which identifies illicit activity on bitcoin's public ledger of transactions, the blockchain – a database of bitcoin addresses that it has associated with the pornography.

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