Zcash will start trading at Gemini Exchange from May 22. Gemini Exchange is started by Tyler and Cameron Winklevoss aka Winklevoss twins. This news elevates the stakes in the privacy debate of the altcoins.
The privacy debate has been raging throughout the crypto community. It became more acute with the revelation that analytic firms and governments are becoming better at tracking the Bitcoin and other transactions between people.
This was a huge shocker as it opened a fierce debate. The whole point of the cryptocurrencies was its decentralized nature. The transparency vs. privacy battle was always there. But this revelation brought things head on.
Zcash, Monero, and Dash offer reliable private transactional services. The Interpol finds it difficult to track criminal money which was funneled through these services.
Nonetheless, the problem with these coins were their smaller market caps. These were due to lack of regulator confidence with their extreme technology regarding privacy. Zcash’s market cap is expected to be up since their enlistment was announced on Gemini exchange.
With the Winklevoss backing, the regulators are coming around. They are getting comfortable with the privacy coins too. A big name backing you never hurt I guess. This is a good news as far as the fanatics of the privacy at all costs are concerned.
New York State Department of Financial Services granted the Gemini permission to handle the exchange for the token. Several other outlets reported on this. The announcement by Gemini also included Litecoin and Bitcoin Cash.
The rise of the Winklevoss twin’s platform and their daring attitude to betting on Zcash is worth noticing. If this bet pays off, the privacy vs. transparency debate will only get louder in the near future.
Interesting times ahead for sure.