David Chaum stated that governments could steal our cryptocurrencies | eBitcoinics.com

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David Chaum stated that governments could steal our cryptocurrencies

eBitcoinics News 17 Apr, 2019 news.eBitcoinics.com Views: 421

David Chaum, the legendary cyberpunk inventor of digital money and founder of DigiCash, pointed out that governments could steal all our cryptocurrencies at will.

Chaum participated today at the Blockchain Week Summit in Paris. His talk focused on the importance of digital sovereignty, which is, according to him, the main need of consumers and users in the modern world.

But he also gave a dystopian view of the situation as it stands now, stating that governments can easily decipher elliptic curve technology, one of the key security pieces that underlie the Bitcoin network and many other cryptocurrencies today.

" Someone like me who has worked in government and in high-risk industrial safety knows that elliptical curves are a joke compared to the capabilities of a national laboratory. When they want to eliminate them, they will, "said Chaum.

In his opening speech, he argued that, now that mobile payments are more popular, we will see a much greater demand for online privacy. The widespread protests against Facebook, for the handling of user data, show that this has already begun. But he added that not only personal data are at stake, but also metadata, the aggregation of everyone's data.

Chaum presented two possible futures: either we control our personal data or let governments and companies control them, which means that our data could end up in the hands of artificial intelligence.

The influence of David Chaum in the field of cryptocurrencies is simply immeasurable. In 1981 he presented the idea of digital money, which would be an early vision of current cryptocurrencies. He also founded DigiCash in 1990, although it was never widely accepted.

He is currently working on the development of the Elixxir blockchain, which has come to the world with a very impressive promise: to solve the trilemma of privacy, security, and scalability.

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