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RE: VYB_POBSTREET 7-1-2022 #37: How can fraud activities be controlled in blockchain system

in #leofinance3 years ago

Controlling scam is nearly impossible in a decentralized system. What we can work on is to avoid it. There is a need to create more awareness about the protection of keys, and to be prudent about the offers that seem too good to be true.

So far as plagiarism is concerned.. strict punishments like banning the convict for a long time may work, but I wonder how can it be possible without having some centralization in the decentralized systems

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Yeah I totally agree with you but the best thing is to keep the good work moving in the blockchain and avoid spam when be noticed

I think spam can be avoided to an extent, if it starts creating mess it needs to be dealt with

Absolutely true to keep the blockchain moving forward

It is not nearly impossible it is totally impossible to control fraud act in this system
You are responsible for your actions your password is only with you and with no one

So giving people access to your account can be done in so many ways you can never imagine but you are still the one responsible for it so I agree with you

This is why knowledge it's very important not all people know about the decentralization of crypto leads to you being having full control over your wallet or account or anything on blockchain that is yours.

Haha. You are right. It is absolute impossibility

the security of blockchain and decentralization have made fraudulent activities non punishable because this the centralisation of cryptocurrency has made everyone to be responsible for their loss

Yeah because blockchain wallet are not linked to any identity except if its centralised exchange being named in the scan of the blockchain the bought sometimes

Your identity in centralised exchange did you know that the money you are decentralized exchange is not for you but for the wallet of decentralized exchange it is safe but in normal world it is not safe because it is not with you

Definitely I think I agree with your point to an extent and I will say irrespective of the level of measure that we tend to put in place,some set of people will always want to find a way of getting into people's account in a malicious way.

Keeping all necessary keys and password relating to any of such account is very vital and I sincerely agreed with you ,as I also see that ad the only Means of securing our account and not putting an end to such fraudulent activity

some set of people will always want to find a way of getting into people's account in a malicious way.

Certainly, robbers can never be eliminated completely. However, we can take measures to save us.