in this context, an assessment of the National Crime Agency in the UK found that the majority of transactions for illicit purposes where actually of low value, and there was little to suggest that digital currencies have been widely used in the context of money laundering. Although anonymity was identified as a potential facilitator of criminality, in reality to use many of the available digital currency services, users would have to register an (eponymous) account.

Other distributed ledger technologies {#sec:blockchain}
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While HM Treasury and the Euro Banking Association (EBA) have been ambivalent towards Bitcoin in their recent reports, they have both recognised the potential of cryptotechnologies for other use cases. In particular, they have identified the distributed ledger at the core of the Bitcoin protocol, which achieves governance by consensus. While few concrete examples exist at present, [@swan2015blockchain] cites several examples of transnational groups which could use such a governance structure, such as the Internet Standards group ICANN and DNS, thus avoiding the influence (political and otherwise) of certain groups that would occur when registering in particular jurisdictions. A more ambitious example is that of smart property, where potentially every asset could be encoded onto this ledger with a 