"Zcash is a currency with both user protection and compliance," interview with Russian OL

In late March, Zcash (Je-cash) visited Japan for the first time, and held a meet-up for the community at the blockchain specialized coworking space Neutrino (neutrino).

There were a number of virtual currency industry participants involved in the meetup. In addition to explaining the basic mechanics of Zcash at the pitch by CEO Zooko Wilcox, regulators were also shared on the basis of the allegations that Zcash should be added to the whitelist. Also, in the Q & A after the pitch, more than 50 questions were gathered through the question submission service slido, and Mr. Zooko answered 18 of those questions. It was a meaningful meet-up with very active discussions.

Mr. Zooko explaining Zcash

State of the meetup

Prior to this meetup, I had the opportunity to interview the Zcash team directly, so I would like to introduce it.

Zcash is a privacy currency that can be shared with third parties
Russian OL-chan (hereinafter, Russian) : Hello. It is Russian OL. Thank you. The Zcash team is visiting Japan for the first time this time, is it your first time to come to Japan even in private? "

Josh Swihart (Zcash Marketing & Business Development: Josh) : Yes, it is my first personal experience in Japan. I ate with grilled chicken and Japanese beef last night and I liked it wonderfully delicious. I had been eating yakitori at a convenience store near here, so I ate it again.

Russian : Japanese food is delicious, isn't it? Well, that's right, but I'll make it into the main topic. Zcash is well known in Japan as the image of privacy currency in Japan, is this recognition correct? Please tell me along with an introduction to the features of Zcash.

Josh : Zcash is a digital currency, a virtual currency like bitcoin. In fact, Zcash was originally based on Bitcoin and was conceived by scientists from Massachusetts Institute of Technology (MIT), John Hopkins University and other prestigious academic and scientific institutions.

To briefly describe the features, you can use Zcash to share and manage information. Zcash has two types of addresses, and transparent addresses work like bitcoin addresses. On the other hand, if you use a shield address, the balance associated with that address will not be displayed in the blockchain. With payment disclosure and special "display keys", you can also share transaction details with a trusted third party for compliance or auditing.

State of interview
(From right: Mr. Zooko Wilcox, Mr. Josh Swihart)

I want to know the vision and regulation of Japan's virtual currency
Russian : I see. Users can choose to use the privacy feature, and even if they use the privacy feature, they can also share the details. There are many use cases for blockchains, so it's good that users can choose according to their purpose.

Now let's move on to the next question. What is the purpose of this visit to Japan? Have there been any harvests yet?

Josh : The purpose of the visit to Japan is fourfold. Learn more about the vision and regulation of virtual currency in Japan, hold a meet-up to get in touch with those who are working and interested in this area, and to inform those who are interested in Zcash without hesitation It is. We will invest more time in Japan.

Actually coming to Japan, there were many harvests. Being able to meet the community and key people directly was especially valuable. As a result of this inspection, I plan to return to Japan again this week. This is a short stay, though.

Russian : Having met a key person may not have been a meaningful discussion for Japanese officials as well.

During the meetup, the participants asked if they met with the FSA. Although it was said that a clear answer could not be made because it was related to sensitive topics, but perhaps not only Japanese regulators, but movements of anti-money laundering (AML) and counter-terrorism (CFT) measures became more important worldwide. I think it's getting better. How are you going to face these?

Josh : We see the AML and CFT efforts as crucial. Regulators have important and difficult responsibilities to protect their citizens from illegal and immoral conduct, and at the same time protect their citizens from the abuse of public data. Zcash was created for the purpose of protecting the citizens and businesses, and the purpose is to keep this balance. As a result of research conducted so far, it has become clear that Zcash has not been confirmed to have been used by money laundering or terrorists. "

Zcash Offers Economic Freedom And Opportunity
Russian : Certainly, the abuse of public data has become a global issue, such as the implementation of the GDPR (EU General Data Protection Regulations) in Europe. Is Zcash's privacy technology, which protects users from data abuse, applicable to areas other than virtual currency?

Josh : Of course! Zcash uses technology based on zero knowledge proof. Although this technique is important for information validation, it can also be applied to applications where all participants do not need to share all details with each other. For example, there are a wide range of applications such as personal information management, employment certification, execution of distributed applications, and credit information. It is still in the early stage before it is widely used.

Russian : What role will Zcash play in the future?

ZUKO : The mission of the Electric Coin Company (Zcash's development and support enterprise) is to provide economic freedom and opportunities for everyone. It is a big mission, but we have been dedicated through our lives to realize it.

Russian : Finally, please give a message to your coin choice reader. "