The Security Behind the Birth of Zcash

Re:The Security Behind the Birth of Zcash by mrb on Sunday July 16, 2017 @03:02PM (#14783587)

Zooko was talking about doing KYC/AML at the exchange level. He did not suggest to weaken the Zcash protocol:

https://mobile.twitter.com/zooko/status/863506504518914050

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Re:The Security Behind the Birth of Zcash by erpellan on Sunday July 16, 2017 @03:58PM (#14783845)

Just like _actual_ cash!

The bank doesn't scan the serial numbers on the money I deposit and yet they somehow correctly credit my account.

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Re:The Security Behind the Birth of Zcash by Mcphja on Sunday July 16, 2017 @08:09PM (#14784785)

Cash counting machines in banks scan and record numbers to find bills that have already been flagged (such as those stolen from banks/ATMs), but that process is unrelated to the crediting of money to your account. General cash tracking is hypothetically possible, but it would not be trivial to implement.

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Re:The Security Behind the Birth of Zcash by valarauca1 on Sunday July 16, 2017 @11:41PM (#14785498)

They actually do.

Well not _you_ but bills do get flagged if they're involved in crimes (like kidnapping or robbery). So when they're deposited in a bank the FBI can track the _relative_ location of criminals.

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Re:The Security Behind the Birth of Zcash by kbody on Sunday July 16, 2017 @06:03PM (#14784338)

Just like on the tweets mentions but zooko didn't reply to; what about just having a zaddr cleaning those coins? KYC/AML already exists on (most) exchanges.

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Re:The Security Behind the Birth of Zcash by wslh on Sunday July 16, 2017 @03:48PM (#14783813)

I don't think so, you can exchange your money through services like ShapeShift where it remains anonymous at the other end and you can make the exchange to fiat money via Localbitcoins. There are many other alternatives we can think of.

I think it would be good to have an optional KYC/AML attached to cryptocurrency transactions. In this way they can be more popular and more connected to the regulated world.

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Re:The Security Behind the Birth of Zcash by JumpCrisscross on Sunday July 16, 2017 @05:14PM (#14784143)

> it would be good to have an optional KYC/AML attached to cryptocurrency transactions

This is already the case, minus the optional part [1]. Broadly, I'd guess anyone involved with an unregulated money transmission operation is one pissed-off D.A. away from serious jail time.

[1] http://www.coindesk.com/bitcoin-law-what-us-businesses-need-...

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Re:The Security Behind the Birth of Zcash by wslh on Sunday July 16, 2017 @09:29PM (#14785063)

That article applies to US law.

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Re:The Security Behind the Birth of Zcash by JumpCrisscross on Sunday July 16, 2017 @09:39PM (#14785095)

If you do anything with U.S. dollars, the United States claims jurisdiction.

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Re:The Security Behind the Birth of Zcash by wslh on Thursday July 20, 2017 @10:07AM (#14812527)

You don't need to use dollars in exchanges.

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Re:The Security Behind the Birth of Zcash by erpellan on Sunday July 16, 2017 @03:59PM (#14783851)

KYC/AML applies to the person, not to the serial numbers printed on the bills they hand over.

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Re:The Security Behind the Birth of Zcash by wslh on Sunday July 16, 2017 @04:09PM (#14783898)

I am not sure if you understood what I said. You can connect transactions with people.

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Re:The Security Behind the Birth of Zcash by jameskegel on Sunday July 16, 2017 @02:39PM (#14783472)

That about seals the deal for me.

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Re:The Security Behind the Birth of Zcash by formula1 on Sunday July 16, 2017 @03:05PM (#14783603)

Seals what? People talking about big ideas that are hard to solve?

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