With the internet a pivotal part of our lives, it is indeed immensely helpful, nonetheless, in recent years we have seen the global media bring to light the privacy issues affecting many of the internet’s biggest actors such as Facebook amongst others. We value privacy and thus online we value Anonymity.
Moreover, many of these leaks include financial payments such as credit card numbers. In this case, Crypto offers a fantastic remedy. A private and anonymous environment away from prying eyes, both legitimate and illegitimate. A true requirement in this world of worryingly declining privacy levels.
How does this work you ask? Simply put, one must recognize that all Crypto coins are different, but ultimately they run off the same DNA. What we call, their blockchain. Let’s take Bitcoin as the example. Firstly, it is pseudonymous. Ultimately, you always write under your pseudonym which is directly linked to your identity and everything you do under it will be linked to yourself.
In terms of exchange, whenever you complete a transaction, the report is stored in the blockchain. Therefore, whilst every transaction is indeed public, it is impossible for anyone to know the real identity of the ‘transactor’. Or anything else for that matter, i.e. what the size of the transaction was, who you sent the transaction to, where your location is etc.
As sites like Coinbase point out, spying on one’s finances is ultimately “unethical”. It is a highly personal and private activity. A solution has been found. And the investment into coins and projects which use this technology is going to escalate hugely in the coming years. At Crypto Crowd we know this and thus are beginning the investment today.
#Crypto #TheFuture #Part2