I’ve been contemplating all that has been accomplished by @dandabek and others since this project’s humble beginnings. It really was a humble beginning, $50,000! Are you kidding me? It had to cost much more to accomplish where it is now, a decentralized Safex blockchain, one click miner, CLI and TWM wallets, an anonymous token (SFT) and anonymous currency (SFX). After all the personal sacrifices made by Dan and others ( developers, economists, private donors, etc), I think this project deserves to succeed!
But there is an “elephant in the room.” I think we need to talk about it, at least consider it. As I’ve been pondering the “SAFE” (i.e. TWM investment opportunity), I’ve been researching. The proverbial “elephant in the room” is that I do not believe that governments are going to allow anonymous transactions facilitated by using anonymous cryptocurrencies. The European Union had already taken steps to make it illegal to engage in these types of transactions. The USA will be next. The majority of Congress views engaging in anonymous transactions solely for the purpose of getting away with criminal activities. Already, we’ve seen that some of the 50 states will not permit the use of xCalibra has an authorized exchange. Now there’s nothing illegal about xCalibra, and Dan is working very hard to make this exchange available in all 50 states which I hope will succeed. But this demonstrates that, like it or not, the US government, and governments around the globe will do all they can to regulate crypto!
There are several articles that point to the fact that, “Crypto will never go mainstream without government acceptance through regulation.” What this means for privacy coins like SFT and SFX is that there will most likely have to be a compromise. All of this is being actively thought out right now. Some have concluded not anonymous, but private. In other words, transactions should be private but never anonymous. Governments are going to demand the ability to determine that any and all ecommerce is not of an unlawful nature.
So, is it possible that the Safex ecosystem and TWM can succeed and flourish on a global scale by somehow providing anonymity thru privacy while providing some kind of back door to mollify government agencies that will, and not if, demand oversight? Otherwise, I fear as amazing as The Worldmarket Place, Inc. has the potential to become, governments may not allow it.
It is an interesting thing to ponder about. However, as the man in the ring dealing with the matter you have to understand one important thing:
With Bitcoin and Ethereum and nearly all of the cryptocurrency blockchains, they mostly none of them have privacy: you will lose the requirement of self sovereignty and you will lose due process.
Currently, if a bank account is of interest, there is due process to get the records of someone. In the case of cryptocurrencies, no one on the planet needs any request of any judge or person to see where money came from and to where it is going. This means that even the Chinese CCP and even arbitrary terrorists can peer in and start to harass you about your crypto dealings.
In the case of SafeX we have a blockchain that has ring signatures and one time addresses. This means that all transactions appear for the first time since no address can ever be spent to twice. This doesn’t mean that you can’t offer yourself to auditing, you can always share your view key and support and incoming transactions without fully giving up your soveriengty and this also brings in due process.
What you will see in some time, is that this will become a necessity.
During the onset of the internet, the central agencies forcibly made the internet insecure so that they can spy on it, they made it in plaintext so that they can easily read and cheaply analyze all internet traffic. Today that isn’t the case since everyone realized that if the whole internet, imagine your password to your email was traversing in plain text.
So, they started to encrypt all traffic from then on out since it was more risky to risk everything than to be able to nakedly monitor all world wide traffic.
Conclusively, I feel that the privacy coins are on the right side of history, and human rights. And I believe that since currently the whole ecosystem is vaguely understood and the small buzz words of “anonymous” still get circulated around, it is only a matter of time before the world realizes that the smartest and only way forward would be a transparent blockchain with private transactions.
I’m not sure it can be stopped. Although, @dandabek has recently established an office in Miami, Florida where he hopes to aggressively pursue the development of the TWM on a global scale. To date, the United States government has come down hard on the likes of Bittrex, Coinbase and Binance, all of whom have operations in the USA. They successfully imposed regulatory changes on these companies who could not resume operations unless they complied.
Below is a screenshot of a recent communication to me:
I received a similar one a year ago from Bittrex. Connecticut is a state that has even gone as far as to require money transmitter licenses for the purpose of engaging in crypto. This requirement is waived, provided you use an authorized exchange.
I fully expect that a state such as Connecticut will not allow residents to use anonymous cryptocurrencies and decentralized marketplaces such as the TWM without some type of compliance they deem necessary. Of course, anyone can decide they will risk it and expect not to get caught. It’s possible they might not. But then we saw what happened when the IRS launched a campaign to go after tax evaders who did not declare their crypto transactions for tax purposes.
But this discussion centers around the notion that the Safex ecosystem and the TWM are pursuing adoption on a global scale, with the strong possibility that governments will go after decentralized marketplaces that facilitate ecommerce anonymously. If this were to happen, could the government say no to the TWM? Could they root out residents in a particular state who engage in anonymous crypto transactions, and then send those residents a letter such as the screenshot above informing them that their account with the TWM will be terminated? I think they will, especially in states like Connecticut.
It’s not so much the threat that decentralized marketplaces will be shut down. It’s the real threat that states, and other governments may refuse to allow their residents and citizens from engaging with these marketplaces if facilitated by using anonymous transactions. Does there have to be a compromise, some way to show compliance, whatever that is, so that the TWM can be adopted in a state like Connecticut and more importantly on a global scale?
The thing is, those exchanges were listing and trading in many numerous arbitrary cryptocoins that might have been deemed securities, there are many other reasons why those exchanges we shut down.
A lot of these exchanges list coins to trade that they did not research in any way at all, and simply accept a listing fee. There is a far deeper rooted issues there. The MTL issue is rudimentary, and xcalibra is pursuing those registrations, that is not so much an issue.
Also you can not simply ban people from using TWM, it simply is not possible at all. It would only be a basic fear of an individual “what if” “what if” this was the case for bitcoin at the beginning, the internet, tor network, and many other tools that have changed the world. Many of us don’t understand the underlying requirements to be successfully interconnect globally as a species and be safe.
I defer to the original need of private transactions doesn’t mean it is impossible to conduct due process, it is just very American to have a blockchain like SafeX where you are able to opt in, rather than be held accused without due process. I was born and raised in New Jersey.
This is good! In my opinion, this should satisfy any regulatory requirement should the government feel the need to poke around.
So basically they came to their senses and realized the need for and benefit of privacy and anonymity!
Excellent point @dandabek. The world, and for that matter government entities, all need to be educated by visionaries such as yourself. Unfortunately, these things take time. Lucky for us there are folks like you who are pushing forward and leading the way!
One has to wonder if the crypto market is its own worse enemy! A simple search of the “latest from coinmarketcap.com” will show a plethora of new coins and tokens being launched regularly.
It behoves the question of, “at what point do federal regulators say enough is enough?” Well, I think that time is upon us! As I pointed out earlier in this thread, government regulation, ironically, may be a necessary and essential component that will save crypto from itself and pave the way for mainstream adoption. The below link provides a sobering message about the state of affairs of corruption prevalent in the crypto space. Who would’ve thought that the once heralded Binance is being considered amongst this group! We recently saw this with SafeLaunch, a new cryptocurrency project trying to brand itself in the Binance smart chain as SafeX (SFEX)! There is only one SafeX, and it belongs to the Safex Foundation non profit corporation 501 (c) 3 launched by Dan Dabek!
Here is the link to the article:
Excerpt from the article:
<< Tether’s long-time compatriot Binance, which is the financial leader of the crypto space, is also seemingly on the verge of collapse. They are being banned by an increasing number of countries, they are being investigated for financial crimes, and their corporate infrastructure is being gradually exposed as a lot of smoke and mirrors. When Binance goes — and they might go soon — crypto prices will plunge along with them. >>
Publications such as this might give one pause as to the legitimacy of digital assets such as cryptocurrency. Is it all nothing more than hype? Time will tell. But I think @dandabek may have seen this coming. That’s why he didn’t just create a cryptocurrency. He created a cryptocurrency ecosystem. A metaphor I often think of is that the Safex project is like a circle, something akin to the “circle of life” meaning. It is self-sustaining, no loose ends. You can travel along the circle from one end to the other and you never have to leave the Safex ecosystem! The Safex ecosystem has its own exchange, xCalibra, it’s own decentralized blockchain, the Safex Blockchain, it’s own PoW mining, the One-Click miner, it’s own anonymous token and currency, SFT and SFX, and it’s own marketplace embedded in its own wallets, the CLI and TWM, Inc. And finally there is the Safex Foundation, a non-profit engaged with researching and advancing the Safex Ecosystem.
@jcasale, this is exactly the reason I did not bet my $ on binance, but on building an exchange that we can have as a safe harbor, that is compliant, and plays fair. We opted not to put USDT for exactly the reasons happening right now, even in the face of a some partnerships falling through as a result.
I am in pursuit of the long haul because this technology is important and should be treated with respect and not a fly by night opportunity for a few clever programmers or businessmen. There is legitimacy in a lot of what crypto brings us, not necessarily with different flavors of “mini coins” on binance and ethereum, but whole new network of which I believe SafeX (the real SafeX) is one of those titans that should prevail into the future.
