Global Denomination: The Anti-anonymity cryptocurrency
The latest breed of X11-driven cryptoassets is challenging the popular concept of anonymity in cryptocurrency – and Global Denomination (GDN) is at the forefront of the space’s latest features. The X11 algorithm, also known as chained proof of work, was first introduced with Darkcoin earlier this year, and has since spawned a cluster of peers all striving to evolve the technology in different directions for various uses. Whereas Darkcoin’s genesis was based on the desire to provide new levels on anonymity, however, GDN’s developers argue the opposite. Their coin, dubbed “anti-anonymous",....
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Peter Sands, the former chief executive of British multinational and financial services company Standard Chartered, states that central banks must terminate the issuance of £50, $100 and€500 bills to reduce the circulation of fraudulent transactions. Sands’ new report titled “Making it Harder for the Bad Guys: The Case for Eliminating High Denomination Notes”, published by Harvard Kennedy School, proposes the central bank eliminate high value currency notes to reduce illegal money flows, tax evasion and financial fraud. “Our proposal is to eliminate high denomination, high value currency....
Are you a Bitcoin skeptic? I hope not... Most of the vocal critics of bitcoin and cryptocurrency seem to be concerned about the "anonymity" associated with bitcoin transactions. According to some of them, because of the so-called anonymity, bitcoins are "made to order" for terror organizations to raise funds. Well I have some news for them - It is not anonymity, but "pseudonymity", they are two different things. Who said your bitcoin transactions couldn't be tracked to a particular location or IP address in real-time if necessary (if you do not believe me, read it for yourself)? Call me....
Unfortunately, this appears to be another way of ending cash in Ireland. The war on cash waged by governments and central banks is in full effect as of right now. Ireland’s Central Bank plans to dispense more 10 and 20 euro banknotes through ATMs. Although that may sound like an innocent decision, it is a significant step towards getting rid of high-denomination banknotes. Officially, the bank sees this move as a way to make lower denomination notes “more accessible.” It is apparent the Central Bank of Ireland has a clear plan in mind. Banks are forced to issue lower denomination banknotes....
While cash is associated with more anonymity, it’s still less mobile and easy to use in large amounts than a digital currency, China’s CBDC project lead Mu Changchun said. China’s central bank digital currency (CBDC) should not be as anonymous as cash, the head of the People’s Bank of China (PBoC) digital currency institute declared.Digital yuan project lead Mu Changchun spoke of China’s CBDC project at the 5th Digital China Construction Summit on Monday, local financial publication Sina Finance reported.Since debuting the digital yuan in 2020, the Chinese central bank has never targeted....
The regulatory debate of cryptocurrencies is a sensitive matter for the cryptocurrency community. When Mike Hearn, Chair of the Bitcoin Foundation's Law & Policy committee, proposed a "brainstorming" on the possible merits of blacklisting addresses, there was a backlash at the very idea of having such a debate, but lawmakers and academics are constantly giving speeches and publishing papers on the legal implications of cryptocurrencies with particular emphasis on its anonymity or pseudo-anonymity features. Anonymity or pseudo-anonymity is a core feature of Bitcoin, the most prominent....