Rémi Quirion, The Chief Scientist of Quebec, has conducted research into the most common ways people use bitcoin, coming to the conclusion that widespread criminal activities are nothing but “myth”. Rémi Quirion is known for having close ties with the Fonds de recherche du Québec (FRQ) – a public institution which declares “dissemination of knowledge” as its principal goal.
Mr. Quirion wrote:
“Bitcoin is often blamed as a good tool for crime or money laundering. Even Christine Lagarde, president of the International Monetary Fund (IMF) recently called for more regulation of cryptocurrencies to counter illegal activities.”
While admitting that Bitcoin can be utilized to increase anonymity, the Chief Scientist denies that illicit transactions are common. According to Mr. Quirion, Bitcoin offers “pseudonymity,” which makes it unsuitable for potential criminal use.
“Every transaction is transparent and public. They are indeed recorded in a kind of ledger whose copies are distributed among thousands of computers.”
The research papers also feature cryptocurrency analyst Erwan Joncheres, who states that bitcoin is as transparent as regular money since the “the address of the transmitter and that of the receiver” is recorded by a third party anyway. According to the published analysis, only 0.61% of trading transactions made between 2013 and 2016 were suspected of being illicit.