We met and decided to interview Jack Grigg at the 38th Bitcoin Meetup in Milan. During this informal event he explained in details the functioning and innovations of Zcash, a cryptocurrency that guarantees privacy and transparency of all transactions.
Zcash’s project is based on the zkSNARKs technology, a new model of zero knowledge protocol (zero-knowledge cryptography). This allows to make public the blockchain transactions, while ensuring the confidentiality of the three related sensitive data: the sender, the recipient, and the transaction economic value. This is a big step forward compared to the bitcoin that has not yet solved the anonymity problem, since all transactions information are publicly available on the blockchain.
Guaranteeing privacy and anonymity has been a matter dear to Jack for a long time, even before joining Zcash. In recent years, however, it has been gaining importance to him. This debated issue opens up several fronts of discussion. In general, however, most of the experts in cryptography and finance agree to strongly defend the privacy right, which is, however, already a fundamental right of the notes. In fact, it is quite impossible to recall all the users of a specific note.
The need to ensure privacy in crypto-transactions is therefore essential to ensure fungibility and avoid discrimination between different currencies that, theoretically, should be identical and interchangeable. In other words, making the ‘path’ of a currency payment, in the event of an unlawful path, could lead to its value decrease compared to other coins.
Jack, like many others, is aware of the importance of extending this type of information to the entire society, not only to the industry experts. Therefore, he actively contributes to the creation of a critical mass to foster knowledge of digital currencies and of their operations.
You can deepen all the questions related to cryptocurrencies and the blockchain, the technology that allows it to work, by reading the 5 insight serie published on our site.
Below you will find an interview to Jack Grigg filmed during the Meetup organized by Blockchainlab.