Why use Zcash to pay for stuff?
Why not use a credit card, debit card, or even Paypal? That’s what normal people do, right?
These types of payments use the double-entry accounting system of government fiat money invented by the Midici family in 15th century Italy. A central authority issues money, and banks keep records of debits and credits. Every fiat currency has failed, but we’ve stuck with the design for more than 500 years.
With the internet and modern technology, we should be able to do better, right?
In fact, around 2009 Satoshi gave the world the gift of Bitcoin! Every node keeps a copy of the synced record, obsoleting the need for a trusted third party. With nodes decentralized, no individual can control the system, shut it down, or inflate it into failure. Anyone can participate in this new, better, financial order.
However, there’s a downside. As much as open blockchains can empower and free end users, the public nature of them can be dangerous for privacy. Very dangerous. Especially if users carry access to their entire net worth on their phone or in their house.
To use an analogy, bitcoin is like a reality tv show with faces blurred, and all are invited. The show is open and accessible to all. Video cameras are in every room, viewable by anyone in the world. Guests with blurred faces believe they are anonymous enough to act freely, which makes for good television. However … when you track someone coming or going from the show, users get followed home and robbed. The blurred face thing didn’t protect them.
The more time goes by, the more links get made, the more identities get revealed, the more bad actors know who when and where to target. Not to mention, the whole thing spirals into a panopticon state. Not to mention, everyone’s actions are digitally archived, accessible for free, to the whole world, until the end of time. Scary, right?
How is Zcash different?
Using Zcash is like having a Harry Potter invisibility cloak, with an ability to put it on and take it off, at will. When the world tunes in to the Zcash reality tv show, they will only see what Zcashers have consented to let them see. When a Zcasher wants to go home, they put on the cloak and go home. No tracking, no following, no danger. Imagine being empowered with that kind of freedom!
Zcash not only protects users from danger, but also protects users from annoying nosy people who would like to make money by selling your information.
Ever buy something, and when you checkout you’re asked a bunch of superfluous questions? Name, phone number, email address, etc.? Then a couple weeks later you get hit with all kinds of magazines and targeted advertising? If you donate to charity, it can be even worse. Every time I go to the mailbox I get a handful of solicitations from nonprofits I donated to years ago and from some I’ve never heard of who likely purchased my address.
Ever wish you could tell them, ‘I’m only going to give you what you need to know, and that is knowledge that the item is paid for. Bye-bye.’ In truth, it’s easier to do online. No nasty looks from cashiers.
Like the VPN company Private Internet Access says, “Always use protection.” Zcash is protection. It protects you from danger, inconvenience, and perhaps circumstances we can’t even imagine yet.
If you’d like to be a super Zcash ninja, it’s getting easier and easier! You can start by getting a wallet that uses z-addresses like ZecWallet Lite. Soon, a mobile wallet will be available. Once you get some ZEC currency in your wallet, by earning ZEC, or buying ZEC at a cryptoATM or an online exchange like Gemini, you’re in the game. You can then “Pay With Zcash.” Food, clothing, games, etc. There are hundreds of stores and charities that accept it, with more being added all the time. Enjoy!