By Tobi Loba
Brian Armstrong, the CEO of Coinbase has recently pointed out that privacy coins and non-custodial wallets will eventually go mainstream like private messaging apps, such as Whatsapp, iMessage, and others.
This is contrary to the assertion of the 74 years old internet security guru, John McAfee, who some hours ago claimed that privacy coins will soon be outlawed.
In a tweet, John McAfee said that the regulators will soon ban privacy coins and distributed exchanges, but the laws will be ineffective like the laws against Marijuana.
John McAfee shared this, “Privacy coins and distributed exchanges will soon be outlawed. But these laws will have no more teeth than the ineffective laws against Marijuana. Do not abdicate your rights! You have, absolutely, the right to financial privacy. Ignore unconstitutional laws.”
Privacy coins and distributed exchanges will soon be outlawed.
But these laws will have no more teeth than the ineffective laws against Marijuana.
Do not abdicate your rights!
You have, absolutely, the right to financial privacy.
Ignore unconstitutional laws.
— John McAfee (@officialmcafee) April 7, 2020
Brian Armstrong Contradicts John McAfee’s Assertion
The CEO of Coinbase, Brian Armstrong has some hours ago thrown its weight behind the adoption of privacy coins and non-custodian wallets, which is contrary to the belief of John McAfee, the septuagenarian cryptocurrency enthusiast.
Brian Armstrong believes that crypto has introduced a new way of bringing privacy to sensitive data and personal information.
This was said on Twitter in the reaction to his recently published book, titled “Cryptocurrencies’ Time to Shine?” There, he said privacy coins and non-custodial wallets will go mainstream eventually, just as some private massage applications were generally adopted.
He furthered by stressing the importance of encryption, comparing the possible encryption of cryptocurrency to the way the internet permanently moved from HTTP to HTTPS.
Read his statement below:
“Cryptocurrency offers novel way to bring privacy to some of our most sensitive data: our personal financial information.
Privacy coins and non-custodial wallets will eventually go mainstream, just as private messaging apps have (Whatsapp, iMessage, Signal etc). Encryption is an important tool for everyone. Just as the internet moved from HTTP to HTTPS as the default, cryptocurrency will as well.”