As a truly anonymous cryptocurrency, won’t Zcoin be used for terrible things?

By November 1, 2016 No Comments

As with any other technology, Zcoin can be used for both good and evil. However, we are firm believers that the net good for Zcoin far outweighs the bad. Throughout history, freedom of commerce has been shown to prevent wars, promote prosperity, and increase cross-culture exchange.

Zcoin is designed to benefit legitimate users who have realized the risk of using a cryptocurrency with a completely transparent public ledger, and the danger of having all their financial details made public with Bitcoin. Because there are already pre-existing mechanisms for such activities, Zcoin does not affect the status quo for such activities, while it provides notable benefits to legitimate users.

Even without Zcoin, such transactions can take place via existing financial systems (e.g. by using cash. Although not actually private, Bitcoin has faced the scrutiny of regulators with its potential use in money laundering.