Why we need privacy CRYPTOCURRENCY Rolf Versluis ZENCASH | IOHK partnership | Consensus conference

hello my name is Xena and I’m a big fan of votchin technologists and cryptocurrencies so recently on my social profiles we had a very interesting big discussion about privacy and transparency which one do need more and I decided to bring to the conversation an expert in this fair and for my russian-speaking audience any better music you took a tour of most of Tajikistan comported marriage Davido non Liscombe music yeah thanks to the lights in each lab today I’m actually in London and it’s super nice to have this online call to you in America as far as I know yes yeah just north of Atlanta so not too far away thank you very much for joining me today that’s super impressive that I can have a real cough Islander of a popular cryptocurrency with me like I would like to ask you to briefly introduce yourself to my audience sure absolutely like like you said I did helped co-found send cash almost a year ago with rob big Leone and we’ve been talking for a while and I came to cryptocurrency through the technical side at an IT business data networking and a few years ago I started doing Bitcoin mining and I was very excited for his end cash to be launched and and I came at the direction not from a cryptocurrency or developer side but from a network and security side of things I believe a lot in freedom and I have four kids with my wife and I want to have a great future for them okay very nice to know that thank you very much for answer so I know you guys in dim cash have a lot of great news that I would like to move to shortly but I would like to start with some general overview of the industry right now so maybe the most popular question I meet on the internet right now almost every day people ask me about this big dilemma about anonymity and publicity and how the world has to be transparent because as far as I know a lot of people turn to cryptocurrency because it more freedom there and for some people more privacy means more freedom and for others it seems a rather dangerous tool so I know that you have a huge experience working in security systems so do you really consider the level of transparency and publicity we have right now to be maybe unhealthy or even harmful for a regular citizen sure so from a standpoint of Bitcoin through the cryptography that I use it it really enables people to use pseudo anonymous which means you don’t use your name but but you have a Bitcoin address and there’s a lot of ability to do different things cross-border transactions quickly get the ability to use something that’s like money which is important for unbanked people and as you start looking into that you say well having the ability to control your own money or your own life or your own property is really important to being able to improve and get better in the world so Bitcoin isn’t truly anonymous and because it’s on a blockchain that anybody can see and we know that some people have linked Bitcoin addresses to specific people so one of the things that we’re doing with cent cash is we have two types of addresses and two types of transactions one of them is just like Bitcoin is the transparent address and sometimes you want to be able to say hey I sent you some funds and here’s the address let’s integrate much more quickly into exchanges and shopping and things like that but other times just like I have blinds to my house I like to look outside and see things but sometimes I close the shutters and turn off the lights because there’s things that I do in my life that are private and I think everybody has to have the ability to choose privacy and when you have the ability to have privacy that gives you the ability to have freedom and make choices without worrying what other people or authorities think about what you’re doing and to be more creative and express yourself so it’s in cash we also have shielded transactions and shielded addresses and those are completely private they’re on the blockchain but nobody can see who sent it who received it or the amount and by having the choice to sometimes do private transactions that are completely private or even anonymous or transactions that are invisible to everybody I think Zen Cash gives you the ability to make privacy a choice it makes a lot of sense and also I know that there is a big argument for example people talk a lot about criminals or some terroristic attacks and people who can use this privacy option to make some best things so can we like having these options within them cash and other options within equip the world can we still make it traceable somehow to make a life secure or it’s something cryptocurrency doesn’t have to stand for well I mean criminals use whatever tools are available to them and there’s lots of different tools that are available in the world and so yes privacy can help criminals to do things more criminally I guess privacy can also help people that have been that have a very oppressive government these days we have for example Venezuela but in the past you know we have the the Nazi government the Stalinist government the the Chinese Communists where they’re all together they were responsible for killing I don’t know a hundred million people and so I don’t know that criminals in the world have have killed a hundred million people so there’s there’s there’s reasons to have privacy and yes sometimes criminals can use the tools that people use to maintain their freedom but specifically to your question yes so the the shielded transactions that completely private transactions additional features that were going to have in the future be able to have view keys so you can provide a key to people to see the private transactions or selective disclosure where you have a private transaction and you can give someone a key and selectively disclose that that transaction so it gives you the ability to have more control over who can see the different transactions it’s ever brilliant points about government’s comparing to private individual criminals you know I really liked it I think it’s very interesting to continue these discussion with people about these options because I know that this still is a very open question so we still need time to learn how it works and to make up our mind so we’ll need more time so it doesn’t work like this so the industry is very new so people try to discover some things on the internet and I know that crypto becomes so popular even because of this because people want to stick to something you and I would like to move to some use your half and then cash now yeah we have lots of different things going on with Zen Cash all the time since we found it here in the last year we’ve grown and put together a really strong team now we have about 50 people now and I call it a full-stack business so just like if you had a small business you would have technical people you would have sales people you’d have accountants lawyers managers project managers we have all that and that’s really allowed us to expand in all sorts of different directions our software developers our lead architect Alberto and one of our lead developers here as that we’ve just released a white paper this week talking about an additional feature that we’re working on called side chains so we have one of the important things that we have is secure nose so in order to use a cryptocurrency your wallet has to be able to connect to a node we have over nine thousand nodes out there all over the world and the wallets that connect to them or they do that in an encrypted way we pay those nodes to operate and so what we’re creating is another class of node supernodes we’re also gonna pay them that are going to be more robust more powerful servers and they’re gonna run side chains which are going to keep track of all the secure nodes and those side chains will also allow us to move forward on the development of our voting system so they’ll maintain a lot of information on the side chains and not put it into the main blockchain so those are some exciting things I have heard that we’re supposed to get on the ledger wallet here very soon we have a few other hardware wallets that we want to get onto and hardware wallets are a great way of maintaining your cryptocurrency in your in your control and in a secure way so those are the big things that we’ve got right now yeah it’s very nice to hear about how Hardware wallets because I know that people trust them we need to still find something physical you know to believe that this works in some way we can trust and can you ask you also about these master nodes it is it’s something similar to for example – system you know it is similar to – the – master nodes they do a few different functions so – master nodes they actually run their own side chains in order to figure out which master nodes are in compliance and to come up with a payment queue and to pay the different master nodes they’re really one of the leaders in the industry and they’ve done very impressive things with that – master nodes also are responsible for all the governance and voting and other things like that within Xen cache we with super nodes we’re going to do some similar things to the – master nodes where you have some same cache and you get paid and you run powerful servers and also maintain the side chains to figure out how the secure notes and super nodes are going to get paid huh and it’s also going to run the voting system but the super nodes are not going to be responding the only people who are going to be voting in the Zen cache system so in in – if you own a master node you can vote in Zen cache it’s going to be a more inclusive voting system for resources and proposals and that’s in the future that hasn’t been implemented yet but we have a partner with IOH k who’s designing the voting system for us and our developers will work in conjunction with a development team called info pulse out of Ukraine that will do the implementation of the treasury system that IO HK is designing and testing so that’s the ability that we have Treasury funds so every times so every month we get certain amount of funds that does n blockchain Foundation is able to spend on partnerships like the IO HK partnership and paying people to do work for us and we also use it to go to different events like Rob a few other people are going to there’s a conference in Dubai here coming out we’re gonna be at that we’ll be at the conference in New York City next month consensus so we’re going to a few big conferences and so the system that allows us pays us every month it allows us to spend money on development and marketing I think it’s gonna really help us out long term yeah it’s what I really like about zinc is that you have the ideas how to scale the project so it won’t dine somewhere because people really didn’t think about it so also the reason why I asked about this masternodes because I know a lot of people who are really waiting for this option to appear because for example they didn’t have a chance to buy masternodes for a – at some point and now they for example can’t afford it or they don’t have available spots but I know I personally know people who would stay in the line you know to set everything to buy a muster not falls in cash so it’s a very very good news the basic secure node you only need 42 Zend for it now last summer’s end was at about $3 u.s. dollar equivalent it’s a little bit more now but it’s buying running as n secured node it’s pretty straightforward if you have some kind of technical ability and then the super nodes gonna be similar to so yeah it’s great to be able to participate actively in helping make a cryptocurrency better instead of just buying some and then cheering for the price to go up yeah it’s a very good option you can be active you can make some effort and you can make an impact as a result so I know that a lot of people are really waiting for this option so talking about there for example the consensus conference which will be a very huge and it will be in May yes so you will have your own lecture there or people can come to talk to you this year we’re gonna have a booth the same cash booth I don’t know if we’re gonna have a talk hopefully we will but there’s gonna be a lot of folks from the same cash team at the booth I’m gonna be up there at least for a day maybe two days we have a family vacation that happens later that week and family comes first for me but I’ll be up there as well and it’s interesting to meet all the other people in the industry and and that you see on on YouTube channels like yours and actually sometimes get to meet them face to face and talk to them and so yeah it’s gonna be a lot of fun there and some people they go they don’t get a ticket to the conference but they go and stay in a nearby hotel and there’s so many people that go in and out of the conference and go to different events that you can get a real feel for it without even having it having a conference ticket it is a good week you know we have to tell them about it it’s a good option to spend some tons of $1.00 to get the ticket so thank you very much it was very nice to talk to you and also I’m very happy that actually I live in London now and but it come from Ukraine and you mentioned Ukrainian developers I’m very happy to hear that and I know that Dan cash is also very popular in CIS countries and I also met some of your representatives in Ukraine and Keith while I was there so it would be very nice far too here for my russian-speaking audience oh yeah Ukrainian and Russian and other CIS country developers are really talented and we definitely recognize and thank you all very much and have a nice day there in the blendtec thank you appreciate it thank you very much I hope that you liked our interview so feel free to leave your comments below you can also forward your questions about cryptid to me so I can answer them in the next videos don’t forget to like share and subscribe of course I also have all the links to them cash in the info box below you can research their white paper there and also find out more about partnership with ir HK if you have questions to Rolf and then catch team leave them in the comments – thank you very much and have a good day

10 thoughts on “Why we need privacy CRYPTOCURRENCY Rolf Versluis ZENCASH | IOHK partnership | Consensus conference”

  1. О, здорова сегодня видел тебя в видео на канале Cryptodealers

    Small projects with HUGE POTENTIAL ( 100X even 1000X ). You're welcome ! 🙂

  3. Thanks Tina for having Rolf of ZenCash on your channel! I am fan of this project and I have to say I really enjoyed watching this video. Cheers from Slovakia!

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