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Coinbase CEO: going towards the creation of a privacy coin

Privacy cryptocurrency 1024x686 - CEO of Coinbase: we are moving towards the creation of a privacy coin

According to Brian Armstrong's co-founder and CEO ofexchange di cryptocurrency most famous in the world: Coinbase, in the new twenty years, you will see the work of several companies crypto for creating one "Privacy coin".

According to Armstrong, it always gives more importance to privacy and different blockchain they are already working to integrate more advanced features in respect and for the protection of user data. For this reason, as has happened for the web with the transition from Http to Https, so it will also happen to cryptocurrencies, which will work for the creation of blockchains with features dedicated mainly to privacy or to the dissemination of privacy coin. 

Armstrong continues its projections on the future, talking about the recent crackdown that has been seen by various cryptocurrencies that are focused on respect for privacy. Privacy which should be one of the main focuses too of the same development of the Bitcoin.

The integration of typical features of the privacy coin in the blockchains of the main cryptocurrencies, already sees work in progress in this regard, although many believe that an increase in anonymity may threaten anoncoin even more.

Blockstream, blockchain company, for example, published a code test in order to use the Schnorr signatures from February 2019 on the Bitcoin blockchain. A system that contributes to increasing the level of privacy on this network, but also its scalability. At the moment, however, the system is not implemented but in the testing phase, and on the mechanism there are still open discussions. 

Another blockchain that has raised its privacy levels is Ethereum, which has added support to carry out zero-knowledge tests, a cryptographic system that therefore allows data validation, without having access to them.

At the end of October, in 2018, the auditing firm Ernst & Young also announced the launch of its zero-knowledge prototype, type ZP-Proofs on the public blockchain of Ethereum. 

More and more billionaires thanks to cryptocurrencies

Finally, in his discussions on the future of digital currencies, Armstrong noted that in 2020 and in the coming decade, many billionaires from around the world will come from the cryptocurrency sector, saying that friends like Balaji Srinivasan and Olaf Carlson-Wee, estimate that with a price of $ 200 for Bitcoin, the number of billionaires would increase by about half that of today. As a result, capital invested in technology and science will also increase, and more and more people will be interested in the cryptocurrency sector. 

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Silvia Faenza

Graduated in Political Science and International Relations at the University of Salento, in the 2014. From 2015 he is in charge of content management for online companies and publishing agencies, mainly as a ghostwriter, copywriter and web editor.

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