11 lines
1.2 KiB
Markdown
11 lines
1.2 KiB
Markdown
# Cross Bridges
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In crypto technology a *cross bridge* is a combination of [smart-contracts](smart-contracts.md) across multiple [blockchain](blockchain.md) networks that facilitate interoperability and transactions across different [cryptoassets](cryptoasset.md).
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Cross bridges are commonly used for [money laundering](money-laundering.md) transactions in which multiple [cryptoassets](cryptoasset.md) are swapped in a method called *chain-hopping* which is used to obscure the provenance of funds associated with [illicit financing](illicit-financing.md).
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See also [DeFi](defi.md) and [money-laundering](money-laundering.md).
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## References
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1. Orcutt, Mike. 2020. ‘This Is How North Korea Uses Cutting-Edge Crypto Money Laundering to Steal Millions’. MIT Technology Review. MIT Technology Review. http://www.technologyreview.com/2020/03/05/916688/north-korean-hackers-cryptocurrency-money-laundering/.
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1. Allen, Hilary J. 2022. ‘DeFi: Shadow Banking 2.0?’ William & Mary Law Review, Forthcoming.
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1. Walch, Angela. 2019. ‘Deconstructing ‘Decentralization’: Exploring the Core Claim of Crypto Systems’. C. Brummer (Ed.), Crypto Assets: Legal and Monetary Perspectives, 1–36. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3326244. |