Bitcoin, though, has increased its value in recent times, but there are many nations that still want to ban it or have banned it. The reasons are pretty obvious as digital money can be used for things like corruption, and cricket corruption can be called one of these issues. Heath Streak, the former Zimbabwe Captain, also came up with a shocking confession about the cricket corruption, which showcases a bad light over digital currency that is found in the books list. This seems to be a big concern for the Anti-Corruption cell of the International Cricket Club, which seems to be gearing up for this battle. The streak was banned earlier by the ICC for eight long years once he disclosed how he had leaked some vital information to the Indian books while he was taking care of the coaching things in his country. This has happened in Bangladesh and other country’s local tournaments. The streak was seen paying the price for the same.
Well, we still see how cash has remained the more preferred choice when it comes to checking with the books, and at times, it can be even seen like cars, credit cards and jewellery along with the high-end phones. The ICC has remained the key judgement area where it remained the case of coming remaining in the form of bitcoin that came along with the value of 35K USD at that time. Bitcoin seems to be a new phenomenon for everyone operating in this domain. As far as the staff is involved in handling it, they are now playing with bitcoin only. One can find Bitcoin coming with a similar kind of challenge, claims Alex Marshall, who remains the ICC General Manager in an email reply over the query of PTI this Thursday. The ICC seems to be worried about this situation arising due to Bitcoin.
For those who do not know about bitcoin or digital currency it is nothing but virtual money or assets, which can be procured using digital assets that work on algorithms. There are many portals and apps to invest in Digital currency and bitcoin that can tell you more about it. One can find the bitcoin that remains regulated with the help of central banking authority that is found in the top central banks like the RBI in the case of India and many more nations who also have similar banks that deal with it and call it an illegal tender. These digital coins are often regulated at many places and are even counted as illegal tender. In other words, it is also called as Blockchain industry that remains the key financial transaction taking place between the two people who are sitting in two different parts of the world that are not going to remain as the intermediaries.
Today as we see the value of bitcoin reaching a staggering level, which is around 62 453 USD, one can find its value going beyond 46.83 Lakhs in INR, which is huge money. However, what comes as a bigger and bolder challenge is that the coding of digital currency is regarded as a watertight venture. There are several programmed digital vaults that are seen monitoring the infinitely difficult thing when compared to the fiat currencies like USD, INR and others. On the other side, the ICC Chief, Mr. Marshal feels that ICC has a challenge in the coming day as there seems to be a newer method of corruption arising in the coming times.
When it comes to tracking the bitcoin, there is certainly not a simple way when it comes to talking about the right set of people who have the expertise and knowledge about the same that are required to make sure that the corruption is free, feels Marshal. The new head of the BCCI Security unity Mr Shabbir S Kahndawala, claims that he is not hearing about such payments taking place in the form of bitcoin for the first time, and thus they would increase in the coming times. He is now exploring the ways this can be used for cricketing corruption. He is the former DGP of Gujarat State Police and has taken corruption of evertype; however, involving bitcoin in this affair seems to be new for him.