Why Privacy Matters to Navcoin and Why We Are Committed to Upholding Personal Freedoms
We are firm believers that every individual has the right to maintain and uphold their own personal privacy. Events currently unfolding around the world continue to highlight the ongoing importance of maintaining personal privacy and we believe technology should be used to protect and liberate people and not to segregate and/or marginalize members of the general public. Leading centralised big-tech and social media platforms have begun to practise censorship and restrict access to their services depending on an individual’s political, medical, or economic stances. However, Navcoin remains committed to helping our community to express themselves financially and transact as they desire in a swiftly changing global economy.
Becoming anti fragile in an ever-changing world
The services provided by tech giants such as Google and Microsoft have become ubiquitous and are used around the world on a daily basis. Amazon also provides technical solutions such as its Web Services which are widely relied upon, while social media platforms such as Facebook, Instagram, and Twitter are extensively used by people around the world in order to communicate and share information.
Unfortunately, these centralised platforms have their own interests, and their Terms and Conditions do little to fill privacy advocates with confidence. The popular messenger service Whatsapp only recently upgraded its Terms of Service to force its users to accept their data being shared with Facebook.
At the same time, social media platforms such as YouTube, Facebook, and Twitter are effectively practising censorship by “shadow-banning” users or terminating accounts which express controversial views and opinions. This is setting a dangerous precedent in our opinion, as the strongest societies are built upon solid principles of transparency and freedom of expression.
At Navcoin we practise what we preach and our Proof of Stake (PoS) enabled governance structure means that we are free from the central control of any one entity, and every member of the NavCoin community can take part in our Decentralized Autonomous Organization (DAO). All of our protocol administration and consensus changes are subject to an open voting system which all NAV holders holding their coins on the public side can participate in and the only requirement is staking NAV. As a result, Navcoin is for the community and run by the community with our global body of users taking part in deciding how our platform runs and ensuring that all changes remain user centred.
Privacy respecting protocols
In light of the current changes, it’s clear that the world needs privacy respecting email services, messenger services, private web browsers, and censorship resistant social media platforms. As a result, platforms such as Tutanota, Protonmail, Signal, and Telegram are becoming more popular, while Tor is an established way of maintaining your personal privacy while using the net.
Anyone using xNAV can also make use of Dandelion++ and public key cryptography as Navcoin Core wallets send anonymous requests for coins from other nodes. These nodes can connect to our network anonymously using our self-developed cryptographic protocol when the session has been broadcast, and this enables the xNAV sender to randomly select several coins from the received responses, mix them together with their own coins, and then send them to the network.
This system ensures true privacy and anonymity and makes the monitoring of transactions effectively impossible and our blsCT protocol allows multiple transactions to be merged into one, and for transactions to be aggregated an infinite number of times. Here, any authority trying to track and monitor transactions made via our network will be unable to tell whether or not a transaction has been aggregated or not, and will also be unable to obtain key data related to the amounts being transacted, and the addresses of both the sender and receiver.
Why we need financial freedom
With more and more of our everyday actions being tracked by centralized service providers; it’s easy to forget that financial freedom is a key principle of any successful society. Whoever you are, you have the right to conduct any of the following without scrutiny:
· Support Causes You Believe In
· Send Cross Border /Remittance Payments
· Pay for Medical Treatments
· Purchase Any Legal Goods and Services
In addition, simple acts of kindness such as tipping, buying gifts, and making donations are sometimes best when carried out privately without anyone knowing who was behind the respective transaction. Navcoin supports all of these actions and allows people to take control of their economic activities and personal data and share only what they want to share.
Navcoin offers a complete privacy solution that protects all our users from any prying eyes; however, our NAV coin allows users to decide if they would like to leave a public record of their activities, while xNAV remains completely private. This works to keep our community members in control, and increase their options with regards to making payments. We will continue to work on improving integration with merchant gateways, and e-commerce platforms to enable our users to transact using their preferred coin as much as possible. We are also committed to continuing to develop our platform in order to enable all of our users to become anti fragile in an ever-changing world.
