Reading: Altcoin Report: Edward Snowden Weighs in on Zcash


Altcoin Report: Edward Snowden Weighs in on Zcash

Nick Marinoff | Nov 22, 2016 | 07:26

Snowden Zcash Altcoins

Altcoin Report: Edward Snowden Weighs in on Zcash

Nick Marinoff | Nov 22, 2016 | 07:26


FirstBlood makes a lot of money, Flashnet announces a MEGAFLASH crowdsale, and Edward Snowden shares his thoughts on Zcash. Want to catch up on the latest altcoin news? Read the stories below.

Also read: Altcoin Report: Ethereum to Outperform Bitcoin by 2017


Ethereum-based decentralized sports platform FirstBlood has earned over $6 million in an impressive crowdfunding campaign. The company will use the funds to expand its development team and move its operations to Boston, Massachusetts.

Head of business development Marco Cuesta says FirstBlood looks forward to the platform’s future, excitedly discussing some of the platform’s plans:

“We have prioritized building a presence in the traditional eSports space, and the response has been overwhelmingly positive… We have reached our alpha registration goal for the premier version of our platform. However, we are providing fans with a final opportunity to invite their friends and colleagues to compete. Community familiarity is very important.”


Blockchain network Flashnet has announced a new crowdsale for its latest cryptocurrency — the MEGAFLASH token. The event began last Thursday on November 17 at 11 AM PST with the goal of raising at least 200 bitcoins. One MEGAFLASH coin trades for up to one million FLASH coins, freely hosted on the Bittrex Exchange (the platform hosting the sale).

CEO of FLASH Chris Kitze explains:

“Crowdsales are an excellent way to introduce new crypto-coins to the community, offering a way to support a worthy project and accumulate some coins right as they’re being introduced. We’re excited to see how MEGAFLASH helps bring cryptocurrencies to the mainstream by solving the problems advertisers and markets face online, and by rewarding Internet users for their time.”


Former CIA employee Edward Snowden says that new technologies and cryptocurrencies like Zcash will likely stir tax protests. The controversy surrounding the new currency is its claims of complete and total anonymity. CEO Zooko Wilcox says that businesses have the option to hide their transaction histories from competitors and foreign enemies so as to keep their records safe from security breaches.

Surprisingly, Wilcox explains that he can see Snowden’s side of things, though Zcash will likely lead to more legal activity than given credit for:

“I can see where Edward Snowden is coming from. New technologies like Bitcoin, Ethereum and Zcash could be used to evade taxes… I just don’t think that’s going to be the predominant use, at least not in well-governed countries with the rule of law. As our economy digitizes and evolves, more and more of the productive, employment-providing, tax-paying businesses will leverage these new technologies.”

Know of any altcoins that should go in our regular reports? Post your comments below.

Image courtesy Wired.

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