wry Posted December 8, 2018 #1 Posted December 8, 2018 As almost all of you know, Bitcoin transactions are not as anonymous as many early adopters thought they would be. Since every transaction is recorded on the blockchain it is often possible to trace back transactions and link them to a user if they have ever used an exchange or some other service where they were identified. Privacy coins like Monero and Z cash arose to help increase privacy. This article reports on how Mastercard, yes, the big U.S. credit card company, that Mastercard, has just been awarded a patent to help anonymize crypto transactions. Frankly, it doesn't sound like much of a big deal, use an intermediate address, which if that is really all it is causes me to doubt the intelligence of US Patent Office officials since that isn't exactly that brilliant. The article even suggests that all Mastercard might have done was "patent" what Monero and Z cash already do. However, hopefully there is more to it than that. Anyway, anonymity is one of the things that first drew me to Bitcoin. I've checked out Monero, but it's very high transaction fees turned me off. I guess I'll check out Z cash next. Given law enforcement's concerns, I'm surprised to see a main line company like Mastercard innovating in this space. Interesting times! Link to article: https://www.coindesk.com/mastercard-patent-filing-outlines-way-to-anonymize-crypto-transactions
williamshennie9 Posted December 10, 2018 #2 Posted December 10, 2018 Wow, how Ironic lmao. I guess people will find a new currency to use if privacy if threatened. Bitcoin became popular, due to the fact that is was "anonymous" (for the most part), amount other things as well. I think people will protest this if user's anonymity is threatened.
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