Digital money pioneer David Chaum is creating his second digital currency and we caught up with him at Devcon in Osaka, Japan.
Now, Chaum is developing a new so-called "Quantum-resistant" digital currency called Praxxis that innovates on his original ideas for Ecash as well as on the technology advanced by Satoshi Nakamoto's bitcoin.
"Praxxis is delivering two things. One is a new consensus algorithm that is well suited for the Elixxir network. Praxxis is also creating a new quantum-resistant [crypto]currency," said Chaum.
A distributed messaging platform that shreds metadata in an effort to preserve user privacy.
Praxxis, on the other hand, was unveiled this August.
It is intended to enable anonymous payments on Elixxir such that the identity of both the sender and receiver are hidden.
"Vertical and horizontal privacy, it's the holy grail," said Chaum.
Chaum said that there are already 700 people on the wait-list to run new Elixxir software as well as a batch of corporate partners interested in integrating the software into existing messaging app services.
"We are in discussions with various messaging services to use our messenger on a white label basis. Our messaging interfaces are also open. If anyone wants to create a messenger app for our platform they can," Chaum said.
In Chaum's view the "Fundamentally different and interesting thing" about blockchain is its ability as a technology to decentralize power.
WATCH: Ecash Creator David Chaum On His New 'Quantum-Resistant' Cryptocurrency, Praxxis
Published on Oct 21, 2019
by Coindesk | Published on Coinage
Mentioned in this article
Another mainstream company is seeking approval to invest in crypto
Anthony Scaramucci's investment firm, SkyBridge, seeks approval from the SEC to invest in crypto.
COVID-19 popularized decentralization, but blockchain may not catch on
On Nov. 9, drugmaker Pfizer announced that its COVID-19 vaccine is 90-plus percent effective, and even though it may be premature to proclaim the pandemic's end - as the virus continues to rage in the United States and Europe - once can at least speculate: Where will blockchain adoption stand when the crisis abates?
Bitcoin hits new 2020 high at $16.7K -Traders expect bigger breakout
The price of Bitcoin hit a new yearly high at $16,717 on Binance.
The next big crypto market could be fantasy sports, says Messari
As "Digitally native" ecosystems like esports continue to synergize with blockchain technology, industries like fantasy sports could be primed for mass adoption, says digital research firm Messari.