Regulating the Deep Web Through Controlled BlockChains and Crypto-Currency Networks

Abstract

The Deep Web consists of many shadowy players, some of which are downright illegal and anti-social. In this paper, we delve into how one can regulate the Deep Web through Crypto-currency Networks. The Paper begins by briefly explaining the concept of cryptocurrencies (also referred to as cryptocoins in this paper). We discuss how, by providing anonymity, unregulated Cryptocoins (like Bitcoin) are fuelling and funding illegal activities across the globe through internet as the conduit. The concept of Regulated and Sovereign Backed Cryptocurrencies (RSBCs) is discussed. A situation is envisaged where RSBCs are the main medium of exchange. The manner in which transparent and legal transactions take place is deliberated. Finally, the paper concludes by summarizing the methods that can enable us to regulate the Deep Web.

Keywords: dark web, deep web, bitcoin, blockchain, monero, RSBC,CBC,K-Y Protocol

JEL Classification: G18, G28, K23,K42, L43, L86, L51