[2017-05-08] DC: Zcash, the latest virtual currency that promises protection

Zcash, the latest virtual currency that promises protection

http://www.deccanchronicle.com/technology/in-other-news/080517/zcash-the-latest-virtual-currency-that-promises-protection.html

Zcash, the latest virtual currency, has been a smash success since its launch seven months ago, drawing in new users with promises of unrivaled privacy protection.

After debuting on currency trading platforms in October, Zcash took off, hitting an exchange rate of $1,000 per unit, putting it in league with the much better established Bitcoin.

While its value has since come down to earth, Zcash is attracting the interest of Russian, Chinese, Venezuelan and South African consumers. Brazilians now use Zcash to pay taxes and electricity bills.

To make its mark in the world of virtual currencies, Zcash boasts that it protects user privacy . But because of that guarantee it does not offer the transparency demanded by authorities who want to prevent these new tender from being used in money laundering, financing terror ism, evading taxes or fraud.