Edward Snowden, a former computer intelligence analyst turned whistleblower, has acknowledged that he was the sixth person to help create Zcash, a decentralized cryptocurrency focused on privacy and anonymity, in 2016. According to a Forbes story, Snowden was present at the induction ceremony for the token’s creation.
What is Zcash?
Zcash is one of the most popular digital currency blockchains that aims to address this growing problem by giving consumers back control and privacy.
It’s essentially a privacy-focused, blockchain-based payments network that employs zero-knowledge proofs (ZKPs) to mask transactions, keeping transaction contents secret even on a public blockchain. Zcash branched from the Bitcoin network in 2016 due to the Zerocash protocol. ZEC is the ticker sign for its native coin, zcash.
The connection between Edward Snowden and Zcash
According to Forbes, Edward Snowden assisted in creating Zcash, based on a leaked video from Zcash Media in which Snowden discusses the necessity for a privacy-focused alternative to bitcoin.
“Bitcoin is a famous open ledger. The problem with this is that you cannot have truly free trading unless you have private trading. It is not possible to have a free society without free negotiation”.
In contrast to the previous comments, Snowden backed Bitcoin throughout China’s cryptocurrency crackdown and tweeted about buying BTC in 2020.
Since being charged with espionage by the US government in 2013 after leaking papers regarding the NSA’s monitoring program to the press, Snowden has lived in exile in Russia. Snowden traveled to Russia in search of refuge before being apprehended. He’s now a permanent resident.
Despite his engagement with the privacy currency, Snowden allegedly wasn’t in it for the money—and Electric Coin Company claims he wasn’t compensated for his participation. “He did it as a public service and because he believes in privacy,” Swihart added.
