ZCash is a new virtual currency that the NYTimes wrote about, here, yesterday.
Like Bitcoin, Litecoin, Peercoin and most others, it will facilitate fast, low cost anonymous electronic transfers of money. But unlike most others there is no public ledger that can be used to trace transactions – ZCash is designed to be confirmable as authentic but not traceable.
The backers would have us believe this is all about privacy concerns; I have a bridge to sell to anyone who honestly believes that the bulk of users will be law-abiding citizens.
Regardless of intent, ZCash will mostly be used by criminals. And that’s not a good thing.
What do you think? Please leave your comments and thoughts below.