Ethereum Alliance Founding Partner JPMorgan integrates ZCASH - Finding Evil in Good?steemCreated with Sketch.

in ethereum •  7 years ago  (edited)

zcash-logo-gold.jpg

When ZCASH came out, the big question was, who and what type of institution would want to use its' privacy feature?

Today we found our answer. ZCASH has now partnered with a well known Financial Institution. That partner was announced today, JPMorgan Chase. ZCASH blasted to $300 . Ethereum up nearly 100%. A great step forward for these cryptocurrencies.

Ethereum developed a protocol, where it has allowed its blockchain to integrate with other tokens' features through its smart contract. THIS IS HUGE FOR BOTH TOKENS! ESPECIALLY ETHEREUM.

Blockchain as you may well know, is a great technology, a ledger that tracks information and assets, which can be seen and sent both publicly and now privately.

My worries now, is JPMorgan Chase. As we may all agree, banks hold and control the resource we depend on. That resource is money. Let's not also forget, they were fined for fixing / manipulating the price of Silver in the Comex Markets. Don't get me wrong, this is great news to have the worlds most solvent and prominent bank, JPMorgan Chase, to take the first step in legitimizing the cryptocurrency space by partnering up with ETHEREUM and ZCASH. It was a very bold decision but my worry is with every decision lies an AGENDA.

JPMorgan's Agenda is what I question. Now with the ZCASH protocol being implemented into Ethereum. Im worried JPMorgan may use ZCASH's privacy feature to further hide from future unlawful business practices. Selling of Assets, CDO's (credit default obligations), CDS (credit default swaps), MBS (Mortgage Backed Securities), and so on without the ability for it to be traced back to them. My fear is that this may lead to further Manipulated Markets and not being able to know who the culprit is.

Now.......on the more positive side.

Ethereum - This should not being looked at as a cryptocurrency or a crypto asset. Ethereum has now officially become a Crypto-Commodity. Many companies are lining up to utilize and implement their technology into their industries. Within the next 1-2 years you will see Pharma, Shipping, and Energy companies taking the next leap into signing up with Ethereum Alliance. This is HUGE! This division may I dare say? Make Ethereum overtake Bitcoin as the Leader in Market Cap. I will say Ethereum should be near $300-400 by years end. As far as overtaking Bitcoins marketcap, I say sooner rather than later.

ZCASH - Great tech, Zero Knowledge Protocol. Strong Development. I do anticipate a price a correction from todays new high. However I would like to think ZCASH's value in the short term is somewhere in the neighborhood of $150-$160 range. Longterm $300.

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they are using the protocol - not zcash... thats a difference.

Thats not what I understood at the Consensus Summit in NYC where Quorum was launched. EEA has been able to implement ZCASHS' Privacy Feature into their SmartContracts and JPMorgan stated that they will be a strong user of ZCASH in Quorum which operates on the Ethereum Blockhain.

Yeah - in a private one of course.

sooner or later these elites will find a way to get into crypto... all we need to do is avoid using their cryptos...

steem is a great currency and steemit provide us an opportunity to earn it for free great place greate people

Yes,An incredible opportunity!

I totally agree!!!

Well Said. I agree!

Indeed, thank you for the comment @aqeelmalik

Great article i think we are all all little frustrated with the banking cartel ;/

thank you @atomica for leaving a comment.

let just hope jp morgan and the rest cant get control of the "blockchain" and minipulate it, i dont know enough about it to comment as far as the tech goes, but my mindset is, they must know if we dont need them to open an account for us then its fair to say we dont need them.....and if we dont need them then they wont be getting a dime.......that puts them out of a job :))) which is the best thing really for all wars would then cease.......

Great Point. However, while I do believe they are adapting to something that they cant control. We can all agree blockchain and cryptocurrency has instilled liberty throughout the community. I feel now JPMC is now using this technology that we love to cover up their evil.

yep it looks like it, still bankers love to leap from that 6th floor they dont tend to bounce too well for most are over fed.....from others labour...

good post
Please upvote resteemit comment on my post and follow me @mlmtraffic

Thanks for info Great post and pictures . Upvoted and following for sure! Thanks scotty777

thank you @scotty777 ! Photo content will get better as Im easing my way into steemit.

There is nothing to fear. It was already explained today that the regulators will have the ability to view all transaction details on Quorum. Nobody will be able to hide anything. This setup allows transparency (for those authorised) and security (from those who are unauthorized) at the same time for data. It's the best of both worlds really.

That may be true, however, lets not put banks on the podium as being noble. Then why the privacy feature? Why not make all details of the transactions transparent, instead they would like it to be private and encrypted. Banks have been caught trying to hide transactions in the past. Trust me I'm with you, I hope for the same, thats all we can do for right now @iwonthemoney. We need good members like you, the crypto community, and the founders of ZCASH to make sure they operate in a honest lawful manner.

Welcome to Steemit Land! Currently liking etherium!

Thank you @daveks. Happy to be here!

Didn't JP left the EEA and going further with their own Quorum? and collaborate with hyperledger?

Nope they are heavily involved with EEA, Quorum is a protocol built on the ethereum blockchain. They were the first company that signed up and somewhat cofounded EEA. Here is a website where you can research more on quorum.
https://www.jpmorgan.com/country/US/en/Quorum

Thank you. You are a tremendous help for crypto challenged people like me.

You are right that about what could be their agenda. They could really use it to hide their malpractices.

EEA is just a banking effort to attack crypto and centralize it in their hands.

Very resourceful. The trick is to get big fast under the banks' radar, regulations are their weapon of choice as far as I know. Seems to me that mergers in the crypto world might be a strategy that may take place. This is quite interesting and way over my head.

Still dont get what a "smart contract " is.

  ·  7 years ago (edited)

It's a contract written and imposed by computer code, as opposed to a traditional paper contract.

yeah, but how do you write those contracts if the ethereum are on my cold wallet?

Or are ethereum coins only the reward for the verification of the contract?

I resteemit upvote commented on your post.

Hi, I've seen some of your publications I'm going to follow, follow me and let's collaborate together =)

Thank you for the information. The banking industry may be corrupt behind closed doors, but the crypto currency is an open ball game to all participants. If the insolvent national government want to invest in cryptos it would still be beneficial for cryptos, just like it is for Forex. We just need to learn to be better traders.

This is one great post !!! VERY informative. Thank you.

Good points in this article. Interesting to see I'm not the only one that is thinking about this. Sell the coins that you know nothing about. Do proper research on any coin you buy. If the market falls at least you can hold your coins knowing they have a long term future. This is quite an interesting website I found: https://www.coincheckup.com Every single coin can be analysed here based on: the team, the product, advisors, community, the business and the business model and much more. For example: https://www.coincheckup.com/coins/Zcash#analysis To check Zcash Analysis

Awesome article!! I have looked at cryptocurrency and block chain from time to time. Now, I can't learn fast enough. Thanks for a Great Article. Keep up the Good Work!! Much Appreciated-Scott