Monero and Purism’s shared vision to bring cryptocurrency to retail

Recently, Purism CEO Todd Weaver was interviewed by Douglas Tuman on Monero Talk. During the interview, Weaver revealed details around Purism and Monero’s shared vision regarding the future of digital payments.

Purism, which is a privacy and security-focused computer manufacturer, originally announced their partnership with the Monero community last year. During his appearance on Monero Talk, Weaver made it clear that Monero’s focus around anonymity and privacy are what attracted him to the cryptocurrency in the first place.

“These are things that are fundamental to civil liberties,” said Weaver.

Throughout the interview, Weaver was able to explain why Purism decided to partner with the Monero community in the first place and provided a glimpse into a potential future where monero is used to make retail payments by way of Purism’s upcoming Librem 5 phone.

Why Partner with Monero?

According to Weaver, the shared philosophies found with Purism and Monero are the reason the freedom-respecting hardware manufacturer has chosen Monero as its only partner in the cryptocurrency space. More specifically, Weaver pointed to Monero’s focus on providing privacy at the base level of the protocol.

“That means that you don’t have to opt-in to then have an exception towards [privacy],” said Weaver. “You’re basically saying cash is fine, so let’s just have everybody default to this non-tracking state. And that’s a big advantage.”

Notably, Zcash, which is the other major privacy-focused cryptocurrency on the market, currently works in the opposite manner, requiring users to opt-in to what they refer to as “shielded” transactions.

The Long-Term Vision for Monero and Purism

Weaver also talked about how Purism’s plan is to work on providing more convenient privacy and security-focused computing solutions over the long term.

“Purism is not looking to do any kind of sprint or exit.,” said Weaver. “We’re looking to change the future for the better.”

According to Weaver, he realized the Monero community has a similar vision after speaking with a few members of the Monero developers for the first time. He described a vision where users could hold monero on their Librem 5 phones and then instantly convert that cryptocurrency to a temporary Visa or Mastercard debit card when making a payment at a traditional point-of-sale (PoS) system.

“What you solve is the convenience aspect, [which] means you can go and pay at any merchant who accepts Visa, Mastercard, Amex, et cetera because they have temporary cards you can generate,” said Weaver.

Of course, most or all of this functionality will be hidden behind the scenes of a payment app, so the end user would not necessarily need to know how it all works. Obviously, this setup can work for online payments as well, and it allows Purism to avoid the perhaps fruitless endeavor of persuading merchants to accept monero payments or getting PoS providers to integrate monero into their platforms.

“That entire understanding [of] what we’re trying to get to in the long run — by having [a] decentralized, user-controlled banking system and also having it where the device itself is completely under the user’s control — then you also respect the individual’s privacy,” added Weaver. “And that’s sort of the big picture of why we look to advance this cause with Monero.”

The post Monero and Purism’s shared vision to bring cryptocurrency to retail appeared first on Crypto Insider.

Go to Source
Author: Kyle Torpey

Join our Telegram Channel : @Cryptoknowmics for regular updates and important announcements about Cryptoknowmics or to be a part of our Telegram Group : @cryptoknowmic discussions, query and any suggestion or subscribe to our newsletter
Views expressed here are open to research and analysis from the reader’s side

Comments (No)

Leave a Reply