Privacy in the age of technology is becoming a bigger and bigger issue as security agencies gain more control and survaillance over average citizens. Security agencies have a tough job on their hands as new Bitcoin addresses can be created at the click of a button. This means that if someone that wants to remain anonymous continues to create new addresses for incoming transactions, security agents will have to begin the process of putting a face to Bitcoin address all over again. Nevertheless, all the transactions on the blockchain are public. Despite the pseudonymous nature of the Bitcoin network, if one knows the buyer or the sender, one can track your transactions.
It is important to note at this point that the case for privacy is not connected to criminality; only a small fraction of Bitcoin users use Bitcoin for malicious means. The case for privacy is quite simply that privacy is a fundamental human right. If someone, for example, owns a lot of wealth and doesn’t want his peers to know that he is wealthy he may want to keep his balance private. Furthermore, if someone purchases an embarrassing item, privacy again is justified.
It is certainly true that there have been some cases where Bitcoin has been misused for criminality, such as the suspected laundering of $40 million stolen Bitcoins by Tomáš Jiříkovský, or Trendon Shavers’s $150 million insurance ponzi scheme. But criminal activity happens with anything that has value, whether it is USD, EURO, Gold or even antiques.
In the fiat world, private transactions are associated with cash, but in the Bitcoin world, all transactions are publicly available for all to see. How are we to fix this problem? That is where Jumblr comes in. Jumblr is coin shuffling service provided by SuperNET. The process of Jumblr is a rather complex process and differs from other coin shuffling services available on the market. First, the coin of choice, most likely Bitcoin, will be converted into Komodo (an alternative cryptocurrency created by SuperNET). The reason for the conversion is because Komodo adds an extra layer of privacy with the use of Z-sharks technology first created by Zcash. This powerful technology is able to hide the buyers and sellers transactions. At this point, transactions are then “shuffled” amongst users, muddying the waters even further. After all is finished, the coins are converted back into Bitcoin.
This process requires a fee from the user. Luckily, users can invest in this technology as the these fees will be shared amongst investors of the Jumblr asset. On a soon upcoming date (when the Komodo ICO page is fixed for reasons out of SuperNET control), Jumblr assets will be airdropped to Komodo holders. Komodo holders must have their Komodo’s in their Agama wallet, another creation of SuperNET developers.
The Jumblr assets that will be airdropped will come from the developers very own stash. That developer is JL777, an infamous name in the cryptocurrency world. Whilst anonymous himself, his coding, which is publicly available for all to see, speaks for itself. Despite his obvious high intelligence in coding, he remains a humble man. I asked him what his motive for airdropping his very own Jumblr assets was, he replied,
“The best way to jumpstart a trading market (and for that matter and exchange) is to have a lot of people with a high visibility coin, especially if there isn’t any real consensus on its value. The market will then do its price discovery and in the process many people will become familiar with barterDEX [Bartexdex is another upcoming feature of the Agama wallet]”. – JL777
It is obvious JL777 wants his project to be a success with his own personal sacrifice. JL777 has a history of surprises for those that believe in his work. The most recent of which was the REVS airdrop for Komodo holders. Holders of REVS will in the future receive a share in the revenue from a variety of upcoming SuperNET projects. I asked JL777 if we could expect any more surprises.
“I can’t promise any more surprises, but of course I can’t promise there won’t be any more surprises. Now the NXT asset migration is approaching, there could well be many justifiable share drops, or not.” – JL777
In order to get your share of the Jumblr, you must buy Komodo from a central exchange like Bittrex and place that Komodo in the Agama wallet which can be downloaded at https://supernet.org/en. For up to date information on SuperNET, Komodo and Jumblr, go to the SuperNET slack at slackinvite.supernet.org or SuperNET’s twitter at https://twitter.com/SuperNETorg.
EDIT: You will also receive the airdrop if your Komodo coins are located in your Komodo Swing or Agama wallet provided you have access to your seed and private key.