Zcash is no longer just a tool used remotely, on a desktop, only in the safety of your home. It is now a private Swiss bank in your pocket.
Let’s say you’re out at a restaurant. How are you going to pay? Use a credit card, the expected form of payment, and not only does Visa or Mastercard know what you’re doing, but they will categorize, track, profile, and predict your behavior, and then sell that information. Despite all my rage, I am still just a rat in a cage.
Paying with non-private cryptocurrency in-person is also risky and even more permanent. The internet is written in pen, not pencil. What is done on unencrypted public blockchains will be there for a long, long time, and it won’t degrade. That gives Chain-analysis companies a long runway to make connections and lists.
Let’s say someday a big retailer like Target starts accepting cryptocurrency payments. Ever do self-checkout at Target and look up? Smile, say hi to yourself. Do you really want chain-analysis linking Target’s photo to your blockchain activity, accessible for anyone to see, categorize, and judge, til the end of time, and you have zero control over it? Hope you put on a clean shirt.
Not only that, but mistakes happen, especially with facial recognition. What happens when another person who looks similar to you is on a security camera using any publicly accessible blockchain to pay for something? Could chain-analysis mark you as the owner of that address? And when that address is involved in something horrendous, could you be mistakingly blamed, and hunted by mobs, bad guys, foreign governments, etc.
Not so with shielded Zcash. Third parties, cut out of the equation, can’t sell me out. My shielded data is not shown on the blockchain, inaccessible to thieves, annoying advertisers, or future threats. Im protected from being on a list of everyone who bought xyz in the past month. Even the merchant/counter-party can’t see the z-address I paid from. It’s a dead end for attempts to do harm through tracking.
Shielded Zcash is protection.
And now that protection can go with you, wherever you go.