Weiss Ratings has published a blog post, where it encourages state use of privacy DLT technology. Following on this, Weiss Ratings recommends investors to purchase cryptos that offer better transaction volume and scalability.
13 August, AtoZ Markets – Weiss Ratings has published a blog post that has been written by Martin D. Weiss, Ph.D. and Juan M. Villaverde. The post is talking about the privacy-focused coins, including Dash, ZCash, and Monero.
Privacy DLT Technology
While these coins are quite controversial since they are able to anonymize information online, there is a lot of potential for the necessary protection in regards to them, according to Weiss Ratings. Governments are intending to control all liquid assets under financial institutions, which is emerging as an issue for regular people. The two key problems are the asset seizures and the invasion of personal privacy.
According to Weiss Ratings:
“Privacy DLT is a technology that can guarantee the anonymity and privacy of voters, precisely what’s essential for secure, democratic elections. Thus, the same kind of Privacy DLT that Zcash uses for shielding transactions can also be used to create a fast, efficient, anonymous, and secure voting system.”
The report also notes that officials should welcome the new underlying technology since it is very prospective. The agency writes that the technology is able to:
- Thoroughly protect the privacy of personal information.
- Build a solid shield against hackers.
- Make sensitive government information safer.
Weiss Ratings Encourages State Use of Privacy DLT Technology
In conclusion, the blog post asks a question: “Will nations leverage this technology to help create a more robust society in a rapidly evolving digital age?”
Weiss Ratings has also shared some of the recommendations regarding the privacy DLT technology application in the real world. The agency writes that the public should, in fact, avoid these coins until the uncertainty concerning their usage is resolved.
Following on this, Weiss Ratings recommends investors to purchase cryptos that offer better transaction volume and scalability. The company has referred to its ratings of B- or better, including Cardano (B), EOS (B), and Stellar Lumens (B-). Some of the highly liquid cryptos that currently have a rating of C+, such as Ethereum, Bitcoin, and Ripple are also recommended by the agency.
Following on this, the company states:
“The cryptocurrency industry should continue to encourage the development of cryptocurrencies that provide a high degree of transparency in all transactions while supporting government efforts to reduce malicious usages.”
Lastly, Weiss Ratings notes that governments would not ban the privacy technology. Instead, they should clearly understand the threats and benefits of the technology and make use of it.
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