Google co-founder and Alphabet president Sergey Brin revealed that he and his son dug Ethereum at the summit of billionaire Richard Branson yesterday. This meeting also talked about the potential of Zcash’s underlying technology Zero Knowledge Proof (ZKP).
Blockchain is a “significant opportunity”
Brin’s net worth is about $52 billion, and its total wealth ranks ninth in the world. He talked about the huge potential of blockchain technology at this summit.
Former gun and rose drummer Matt Sorum also attended the meeting and mentioned the possibility of using blockchain to protect the artist’s intellectual property. He said that blockchain technology sounds very “rebellious” and also Very “rock”.
While the user holds the content, the artist should also receive corresponding rewards. Blockchain and smart contracts make this possible.
Former SEC (US Securities and Exchange Commission) member Annette Nazareth said regulators learned that blockchain is a “significant opportunity.” In her view, the SEC acknowledged that Bitcoin and Ethereum do not belong to securities represents a major step for regulators. Jim Newsome, former chairman of the CFTC (US Commodity and Futures Trading Commission), also believes that regulators have chosen the right direction, but there is still a period of time from perfect regulatory rules.
We are still in the early stages of the development of this technology, just like the first game of a game. Therefore, we must be cautious and do not deliberately urge the regulatory authorities, because the more anxious, the more error-prone the regulatory authorities are.
Zero knowledge proof is widely acclaimed
Brin believes that the potential for zero-knowledge proof is unbelievable. The Proofs mentioned here can verify the accuracy of the transaction and will not disclose the transaction data to the node. This is an important privacy feature of Zcash, but unlike Monroe, the way Monroe guarantees privacy is to confuse transactions.
Neha Narula, head of digital currency projects at MIT Media Lab, points out that zero-knowledge proof will be one of the most attractive blockchain solutions in the future.
You will be able to prove that one thing is real, but at the same time you don’t have to explain why. It’s like not having to prove that you are 21 years old when you show official documents. In the next few years, zero-knowledge proof will be of revolutionary significance.