Bitcoin inventor wants to make ZCash and Monero traceable
The self-proclaimed Bitcoin inventor Craig Wright is currently working on a technology to make the transactions of so-called 'privacy coins' such as Monero or ZCash traceable. The project is to be audited by independent third parties by the end of this year and will soon be operational.
Craig Wright claims to be Satoshi Nakamoto and thus the inventor of Bitcoin. Furthermore he is chief scientist of nChain and claims according to latest statements in an interview with CNBC that he and some researchers are working on a technology that makes transactions of crypto currencies like Monero or ZCash traceable. For many users of digital assets, the protection of their private sphere and the associated protection of their own data is a need that is experiencing ever-increasing demand.
Crypto currencies that provide untraceable transactions are a thorn in the side of governments worldwide, as they could be used to launder money and finance terrorism. In France, the General Finance Assembly has already concluded that such digital assets should be banned because of the high risk and potential for criminal activity. Nevertheless, the report also admits that cash remains the most widely used means of financing criminal activities.
Dr. Craig Steven Wright, along with Calvin Ayre of Coingeek, is one of the strongest supporters of Bitcoin SV, a hard fork of Bitcoin Cash. Wright is now taking action against Privacy Coins, as he made clear in an interview with CNBC:
ECash was anonymous, far more than Zcash or Monero. One of the things I've been working on later this year I'll first release to people like law enforcement, and then there will be others like how to kill Zcash, how to kill Monero and so on.
If you have a private coin, I'll show you that it's basically as private as the time square with the pants around your ankles.
free summed up
He also announced immediately after on Twitter that the above crypto currencies would become available again and that the technology was currently being developed.
He doesn't mince his words and in a public letter to the CFTC he criticized the Smart Contracts Plattforn Ethereum and calls it a 'cheap copy' of Bitcoin:
Ethereum is a poorly designed copy of Bitcoin, designed to fulfill the promise of intelligent contracts and scripts delivered within Bitcoin, but hampered by Bitcoin's core developers who wanted to enable anonymous transactions within the system.
free summed up
The next time will show how much truth and action will follow his statements.
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