It claims to be able to process more than 100,000 transactions per second, far higher than Bitcoin’s seven.Ĭhaum has became known as the inventor of digital cash-another term for electronic money-after a paper he wrote in 1981 laid out an early vision of the cryptocurrencies we see today. When they want to take these down, they will,” Chaum said.Ĭhaum is the founder of Elixxir, a privacy-focused, quantum-resistant, blockchain platform. “Someone like myself who has worked in government and high stakes industrial security knows elliptic curves are a joke compared to the capabilities of a national laboratory. But he also gave a dystopian view of the situation as it is right now, claiming that governments can easily crack elliptic curve technology-one of the key pieces of security that underlies the Bitcoin network and that of many other cryptocurrencies today. Speaking at Paris Blockchain Week Summit today, Chaum set out his vision for privacy in payments and messaging technology, arguing that it will become a necessity in the very near future. But that was the message delivered by David Chaum, inventor of digital cash and founder of DigiCash, a Bitcoin precursor. sitting comfortably in our crypto wallet. That’s not something many of us want to hear, with our Bitcoin et al. Governments can crack cryptocurrencies at will, breaking their security open and stealing our coins.
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