WATCH: Ecash Creator David Chaum On His New 'Quantum-Resistant' Cryptocurrency, Praxxis

Published on by Coindesk | Published on

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.