Security expert John McAfee says that adoption for privacy coins is coming. This he believes has been confirmed by their use by criminals. Historically he notes, they have been first to new technology while the government has been slow. In an attempt to catch up with them, the government will have to adapt to the new technology, leading to mass adoption.
Privacy Coins Are Not For Criminals
Cryptocurrencies were not designed to facilitate crime. Most were designed to suit people’s needs to keep their lives private. They were to bring financial freedom. One of the most favorites is Monero. One could buy products and services without leaving any trace for the government, corporations looking to monetize through Ads or any other party.
People have been trained like obedient sheep to believe privacy is something only criminals and weirdos desire. Really, privacy is enjoyed by anyone thats ever had blinds on their windows at home. Any actual crime has more than a money trail anyway, it has victims and evidence.
— JΣЯΣ♏︎ㄚ👽FTSmaps.com👽 (@Three3ZERO1) February 22, 2020
Unfortunately, they have enabled criminals to operate without easily been caught. More specifically, privacy coins. Privacy coins are designed to hide the identity of the person making any transaction. Most use zero-knowledge proofs to ensure identity is withheld.
This has made them popular with criminals who take advantage of this. While most in the crypto industry believe this to be a bad thing, John McAfee thinks it is good. The criminals have validated the technology and now the race for the government to catch up has started.
Criminals are using privacy coins.