Cloak Coin- Privacy in the Blockchain
Blockchain Privacy- Cloak Coin
There are certain aspects of life, things we have fought for as our rights. Privacy is one of them, now I won't go so far as to use the word security here. As privacy is a freedom I would much rather trade for. Security is a myth and those who go on to buy are selling their human rights.
There is a quote from Benjamin Franklin that puts it nicely
" Those who trade security for freedom, deserve neither"
That is the real kicker, This decentralized evolution of finance, money and governance is going to have widespread changes in the social order for years to come. This is important to note, its likely that with a little bit of foresight, and realization. We can vaguely see the future start to come to pass. These new privacy tokens on the market are a sign of the times. Although I do believe that depending on the country you live in Fintech is going to be hitting some hard-line regulations soon. This is a matter of fact one of the reasons why something like privacy is so important.
Now, I am not a fan of taxes, I pay them, yes. But I would rather not. For many reasons. If you had the right to hold your own cash without the government's interjections, this would be considered financial privacy, something we don't really have any more due to the global swift and monoical fiat money system. This has been seen time and time again in our ancient history and our more recent past! Privacy is your ability to keep what is yours out of the eyes of others and money is one of those things.
Cloak Coin Vs Monero
This company is one of the leaders in the privacy space, currently running on whats known as DPOS or Delegated Proof Of Stake. Its a significantly faster and cheaper way to manage some of these decentralized cryptocurrency systems. Its important to always remember and ask your self, what problem does this company solve. The Cloakcoin wallet ( See here ) Staking is one of the very unique processes here in this platform that allow you to stake your tokens for around 6% per annum. Which is huge in comparison to our degradative fiat system. Not to mention its one of the easiest and friendliest wallet systems I have seen on the market. With the cloaking engima features, you can send tokens to another client without ever leaving a trace from your wallet to theirs.
This is extremely important. It's not easy to protect our data, let alone the privacy of our monetary energy. The blockchain world was originally based on annominity but as we have seen. Due to the open ledger and blockchain Bitcoin is anything but anonymous. You can track from wallet to wallet all of the sends of these tokens, this can be a downfall if you are reliant upon a government who is imposing totalitarian regimes or ideas.
Privacy & Value
We have seen this before as well, Greece did not realize they needed Bitcoin until it was too late. Same with countries like India and the like, governments and centralized bank come in and create troubles for the average person. These are really, and truly should be more individual rights, yet we see the reason why these decentralized ledgers have gathered so much attention. We need the ability weather through tech or through each other to be able to speak out against tyrannical governments or oppressive monetary controls, that really fringe on what should be your right to freedom to trade with other individuals around you.
Well, Cloak gets a shiny review from us, if they can keep their hard work and team together over the coming years. this token is sure to shine. Some of the most important qualities that you would want fall into this sector. Its likely very important to note that well most people won't understand what might be wrong with Fiat currency, something like Cloak coin, using the blockchain to produce a distributed ledger that transacts on a secondary layer from the primary lawyers gives us something similar to the program TOR. Basically allowing your transaction to layer itself like an onion in shells of code, shielding its sender and receiver in the process itself.
All In All it comes down to a few things hedging your bets, there are still other tokens in the "Privacy" space.
Tokens like Monero, have been around for a long time. Their marketers and program have done a great job, yet, Monero is almost useless in comparison. I still can't figure out the wallet and an exchange is absolutely no place to keep a token that you consider a store of value, remember you own your tokens, so make sure you grab yourself a cold storage or offline wallet.
Remember none of this is investment advice, The cryptocurrency world changes quickly. In fact, it changes by the moment. Doing your own Due Diligence is key. Do not invest money you cannot afford to lose.
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