Regulations are meant to bring an element of market stability and reduce the risk from fraudulent operations on the market. However, in certain cases, regulations may damage the price and even pose certain cryptoassets under existential threat.
The fungibility of Bitcoin has been an issue of contention among many. The question is, “can a quantity of bitcoin be swapped for another of equal value?” The answer is yes because can lend you one bitcoin and when you pay me back, it doesn’t have to be the exact BTC that I gave you. This means that Bitcoin is fungible.
According to the significant technological change that has occurred in the past decade, we can now be sure that the integration of innovative tools including blockchain, distributed ledger technology (DLT), and general data protection regulation (GDPR) standards are somehow sufficient and able to ensure the security and privacy of personal data in future Internet systems.
Privacy is one of the new technological trends of the last year. More and more important companies are shifting this functionality into their core business, even the big giants like Google, Facebook and Amazon.
One of the great advantages that Bitcoin has is that it is decentralized, and hence not controlled by any central agency. Cryptocurrency gives exceptional capabilities to counterspy on and command what individuals do, and putting that authority to a few persons or companies is not only extremely dangerous but also unsafe.
Launched in January 2014, the cryptocurrency Dash was created to overcome certain confidentiality issues associated with Bitcoin. Together with Monero and Zcash, Dash is one of the top three privacy coins. As of July 31, the market cap of Dash exceeds $943M, according to Coincodex. The currency is accepted by a number of recognized merchants and even offers a contactless debit card to process ordinary payments at retailers in Dash.
One of the most important features of cryptocurrency is its ability to offer a user full anonymity and privacy. Is it good? A challenging question. For most people tend to believe that anonymity is something important only for fraudsters and criminals. And this is partially true. However, ordinary people also need privacy to protect their everyday life.
The Office of the Australian Info Commissioner (OAIC) released a statement on Tuesday showing that it has joined other privacy regulators from different parts of the world I’m calling for more info about Facebook’s Libra Network. OAIC and other regulators including United Kingdom Info Commissioner’s Office (ICO), the European Union, the United States, Albania, Canada and Burkina Faso, want to know more about Facebook's information protection framework for its private cryptocurrency dubbed Libra that is expected to be launched in the first quarter (Q1) of 2020.
Every individual, company or organization needs privacy in one way or another and that is why the cryptocurrency community has for quite a long time been calling for it. After hearing the major privacy concern in the blockchain and finance sector, JPMorgan Chase assembled its tools and created a privacy feature for Ether-based blockchains which is fully companionable with the smart contracts platform. The novel feature will be working in the same way like Monero’s anonymity, additionally, it will not be displaying the details of both the sender and the receiver, and go on to store the amount transacted in a more transparent manner.