Yeah, you read that right.The Vatican is going to address modern-day human trafficking that has become more sophisticated through the use of cryptocurrencies and the Blockchain. The address is set to occur today at the Pontifical Academy of Social Sciences.
A variety of topics will be covered during the address. Folks can expect discussions to touch on money laundering, drugs, slave trading, and fraud.
Expect that a lot of attention will go towards how the Blockchain can be used to help solve or at least push back these issues.
Catholic Church Aims to Eliminate World Slavery
The Vatican event will span over a three-day period. The whole address is part of the Catholic Churches efforts, led by Pope Francis, for whom human trafficking and slavery have been top priorities since his inauguration in 2013. The end goal of the Catholic Church is to erase the notion of slavery and human trafficking from our world by 2020.
Additionally, top Vatican officials will be there with
valuable input along with other civil leaders.
Bank of Montreal Opposing Human Trafficking
Joseph Mari, senior manager at the Bank of Montreal, will provide insight at the address about how Blockchain transaction patterns can be analyzed to identify human traffickers.
The senior manager will educate the Catholic Church and other professionals on what kind of a role current Blockchain technology plays in human trafficking.
In a collaborated effort with Chainalysis and numerous other financial establishments, methods of recognizing crypto transactions underlying human trafficking are already in development.
Efforts Uniting Civil and Financial Establishments
Jami Hubbard Solli, founder of the Global Alliance for Legal Aid, made it her objective to earn the Rome’s support in helping global banks combat the significant issue at hand. Professional partnerships concerning this are to be discussed at the event.
Solli believes that to combat slavery efficiently on a global scale, there has to be unity between banking and civil systems in place.
The event will undoubtedly make waves of progress towards combating the pressing and monstrous issue of slavery and human trafficking.
What Can We Draw From This?
With the introduction of the Blockchain and cryptocurrencies, everything has become more sophisticated and complicated, trading, business, and crime especially. Even if the changes haven’t directly affected you yet, it’s good to be in the know, and thanks for choosing Cryptona as your information resource.
Hopefully, proactive efforts are being made to improve the uses of Blockchain technology and hold unethical activities at bay.