It turns out the pseudonymous John Dobbertin, who was one of the six participants in the Zcash Ceremony, was Edward Snowden all Cybersecurity poster boy and government surveillance whistleblower Edward Snowden has revealed he played a pivotal role in the creation of privacy token Zcash (ZEC).
A video from Zcash Media featured an interview with Snowden where he outlined his involvement as one of the six individuals who had a piece of the Zcash multisignature private key to launch the project on October 23, 2016. In the video, Snowden stated:
“My name is Edward Snowden. I participated in the Zcash original ceremony under the pseudonym John Dobbertin.”
Edward Snowden is the whistleblower who revealed United States government surveillance tactics and went into hiding in 2013.
Zcash is a decentralized blockchain that uses zero-knowledge proofs in its transactions. ZEC transactions cannot be tracked and the amounts transmitted cannot be determined, unlike with relatively transparent Bitcoin (BTC).
The Zcash Ceremony saw Snowden and five other people each combine their portion of the Zcash private key to launch the project. None of the participants knew who the others were nor what portion of the key they held so as to protect their anonymity, one of the tenets of the project.
Alan first used Bitcoin in 2012, learning it was a useful currency to buy things on the internet. He used the peer-to-peer (P2P) service localbitcoins.com, whose team are regular Cointelegraph contributors, to buy Bitcoin.
Alan described the process of buying Bitcoin from real people as a “bizarre experience.” He explained that the experience 10 years ago is incomparable to using popular exchanges such as Coinbase, Kraken or Binance nowadays.
Over the course of his studies at university, Alan’s interest in Bitcoin waxed and waned until 2014 came round and the “less than 100 pounds,” or $130, that Alan had in Bitcoin had become a “couple of grand.” Alan explains the “transition” of Bitcoin the currency into something more:
“Bitcoin had actual utility, from buying things online to having actual value. I’ve now got this anonymous money, or ‘anonymous enough’ money, with actual value.”
Ultimately, Alain explained that while “Bitcoin gets a bad ride in the press, the more good things people do with it, the better.” Furthermore, he’s proved you don’t necessarily need to sell your Bitcoin to be generous.
“A lot of people have gotten incredibly lucky to turn small amounts of money into ludicrous piles of wealth. So yeah, give a bit back somewhere nice. Whether it’s family or just general charity.”
Alan concluded that everyone should “buy your mum a house,” or, better yet, he jokes, “buy my mum another house.”
The Philippines will pursue a wholesale central bank digital currency pilot project, to be called Project CBDCPh, Bangko Sentral ng Pilipinas governor Benjamin E. Diokno announced Wednesday. Diokno spoke about the project last week at a roundtable of the 14th Annual Group of 24/Alliance for Financial Inclusion Policymakers held at the International Monetary Fund–World Bank spring meetings in Washington, DC.
The project will be led by an intersectoral domestic team, Diokno said, as well as “external advisers from international standard-setting bodies and multilateral institutions to build on training and knowledge sharing on CBDC development and implementation all over the world.” Diokno called the project “critical in constructing the BSP’s medium- to long-term roadmap for more advanced wholesale CBDC projects that will further strengthen the Philippine payment system.”
A presentation prepared in advance of the roundtable stated, “There is minimal perceived added value for the use of retail CBDC in the Philippines, given the progress in the implementation of retail payment and financial inclusion reforms.” It noted that about 20.1% of the monthly retail payments volume was in digital form at the end of 2020, up from 10% in 2018 and 1% in 2013. All government salaries are paid digitally.
The central bank foresees using the wholesale CBDC for cross-border payments, equity securities payments and intraday liquidity facility (ILF). At present, ILF is not fully automated. The Financial Action Task Force recently identified the Philippines as having inadequate Anti-Money Laundering and Combating the Financing of Terrorism standards.
The country took its first steps toward a CBDC last year with the release of an exploratory study. It also signed memoranda of understanding on information exchange and capacity building with the Monetary Authority of Singapore and the Central Bank of Mauritius in the areas of digital currency, fintech and Islamic banking, and took part in a Bank for International Settlements study on the role of CBDCs in financial inclusion.
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