Renowned whistleblower Edward Snowden honestly talks about digital currency and its loopholes

Edward Snowden who is currently one of the most famous whistleblower’s of the world made some startling revelations in his interview with Peter Van Valkenburgh. This interview took place during Blockstack Berlin 2018. As soon as the interview started off Peter raised some important questions regarding the digital currency.

Snowden touched a very important issue in his interview. He talked about digital currency and privacy issues. Snowden believes that the bitcoin may not last forever and he does have his reasons. He is of the opinion that the development team needs to make a lot of improvement.

Edward mentioned that at the moment each one of us believes that the bitcoin transaction rate limitation is the main flaw of the digital currency, but that is not the case for sure. Snowden is of the opinion that the digital currency has a much greater flaw and that is the public ledger.

Edward feels that the public ledger can be termed as a structural flaw. He feels that there are many limitations faced by the users when they engage with the digital currency. These limitations need attention to help promote the growth of the digital currency.

The reputed whistleblower also felt that it is time that new crypo projects should be encouraged.

Snowden personally prefers Zcash over other digital currencies. He mentioned his liking during the interview. Edward is known to be a privacy advocate and this is one of the reasons that he prefers Zcash. This digital currency has got an impressive privacy policy as per Snowden’s opinion.

Edward also holds a positive opinion about Monero and during the interview he accepted that he has used Monero.

The positive side of the picture as per Snowden is that other projects are also trying to follow the privacy policy of Zcash. Snowden believes that currently the digital currency ecosystem is small and it needs to grow to offer benefits to the users.

Edward also emphasized the need to design competing and efficient crypto mechanisms that cannot be ignored by the Governments. This interview surely offers insight to the crypto investors and highlights the potential issues that exist in the crypto world today.

The important thing is that these identified issues should not go unnoticed. The reason is that Snowden does have a solid vision related to digital currency and this is why his concerns do need a solution. This will eventually benefit the crytocurrency community.

2018-03-23T14:01:41+00:00