In a world dominated by banking arrogance and its thirst for power, people often find themselves hostage to these institutions and the centralization of power they represent.
However, with the advent of cryptographic and decentralized currencies like Zcash, individuals can still enjoy some privacy when transacting. Some may argue that other cryptocurrencies may also provide a conducive ecosystem for moving money without the involvement of a third party. But is that really true?
Partially yes, but the Achilles' heel remains the financial exposure these currencies represent. Despite being decentralized, they have significant privacy shortcomings, as anyone can access your transaction history.
When it comes to financial privacy, individuals need greater freedom to use money while maintaining reinforced privacy. Other cryptocurrencies have an advantage over banks because they can use money without the need for a tertiary entity, but they are still subject to the undue disclosure of financial information.
Financial privacy is a fundamental right of individuals. After all, nobody needs to know how much others have or disclose unnecessary information to third parties. Today, privacy may seem trivial, but people only realize its importance when their balances are exposed or their accounts drained due to negligence.
Private financial freedom is a acquired right, and those who value it have everything to succeed financially. If you think private currencies are not important, then why does it bother the government so much? Why are they so bothered by private currencies and want to dismantle them at all costs?
I'll tell you, they know they don't have access to individuals' money, and that's beyond their control, which irritates and worries them because they're used to knowing everything about citizens, but with private currencies, they can't do that.
For these and several other reasons, I believe private currencies are important, and the world needs them to protect itself from a highly controlling and obsessed world. Private currencies are a right and are normal for individuals.
Remember:
CONTENT IS KING!
Support this blog to incentivize my daily writings and to keep pace with all happenings in crypto: share, comment, tip ; after all, creators depend on sponsors donations to succeed.