How a Virtual Credit Card Is Solving Real ‘Privacy’ Concerns
The entire world was in shambles in 2008, after a few financial institutions became rapacious. While millions of Americans lost their jobs, and homes, a person or a group — dubbed Satoshi Nakamoto — were already thinking of a new financial system for the recovering world. A system where anonymity was a right, transparency was ubiquitous, and middle-men were obsolete.
Birth of Privacy
In 2014, when cryptocurrency was still a largely esoteric concept reserved for the erudite, Bo, David, and Jason — buddies since high school — began scoping the landscape. Despite the undulating value of cryptocurrencies, there is no denying its merits: you get to transfer a million dollars to someone across the world for a mere $0.45 (on the day of writing) in a network that is more secure than the most secure bank account in a matter of milliseconds. Did I mention it’s all anonymous? On the flip side, two areas where contemporary payments fare better are universality and transaction disputes. Once you send money over a blockchain, it’s forever gone. And because of its arcane stature, it is still not layman’s currency.
The three co-founders were fascinated by the blockchain technology, but they didn’t want to tread the conventional route. Rather than quitting their day jobs to mine bitcoins, they…
