Monero opens up: ‘We’re about as private as you can get’

By September 9, 2016Bitcoin Business

Monero price spiked after being integrated by leading dark marketplace AlphaBay at the start of September. We have noticed you are using an ad blocker To continue providing news and award winning journalism, we rely on advertising revenue. To continue reading, please turn off your ad blocker or whitelist us . The knock on effect with any privacy-related project is that it can be used for nefarious purposes. That this is happening comes as no surprise to the people who built the untraceable cryptocurrency Monero, but their goal from the start was always to create a safe and secure system of money. Monero hit the headlines towards the end of last month when its price began to spike following an announcement by leading darknet market AlphaBay that it would be integrating Monero on 1 September. Monero core developer Riccardo Spagni says it’s not about specific use cases, but about creating a digital version of cash and enabling user privacy to the best extent possible. He told IBTimes UK : "The way we see it, if somebody sends you money, like to your bank account, they shouldn’t be able to tell what your bank balance is. If you pay with your credit card online, they shouldn’t be able to tell what your bank balance is. So that’s really what we are trying to create with Monero. "Of course guys like AlphaBay and Oasis and the darknet market operators obviously tend to be more interested in privacy than the average man on the street and so I guess it’s not surprising that they identified Monero at this relatively early stage. But I am hoping and expecting that there will be other people who will use it for use cases beyond that." The Monero bull run was perhaps triggered by the news […]

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