As Mark Zuckerberg’s Project Libra still keeps receiving resistance from Western Authorities, he was triggered with the declaration of the Chinese President Xi Jinping expressing the intent to invest public resources in blockchain as slated to be the core technology of the future. This presidential declaration seems to have set an alarm that the Chinese are well overtaking on the digital currency technology. Now, the race for the development of a central bank digital currency (CBDC) is increasing its pace.
CBDC is a new type of fiat money in digital form or digital money held legal by regulation or law. Over the years, banks and governments around the globe have been struggling to control the massive growth of cryptocurrencies, which are virtual currencies such as bitcoin and Ethereum, that run on a blockchain network. They have gained enormous popularity due to its decentralized structure and eventually were considered a threat in the banking system, which operates under the control of a country’s laws and regulations. Since these institutions are unable to control the growth and influence of cryptocurrencies, many central banks around the globe are now racing to launch their own versions of cryptocurrencies, now known as the CBDC.
This could foster certain risks in the financial system’s security in the future. Cash transactions always guarantee anonymous transactions, and with the introduction of CBDC, chances are, the majority of the transactions will be cashless. While a digital currency may satisfy anonymity and security towards other users, but not towards authorities. In essence, users are not completely protected from threats of fraud and scams. In this view, there is now a growing demand for non-traceable payment tools that will completely protect users from any unauthorized use of personal transaction data that can be used for fraudulent activities.
This is what Virie Market is all about. Virie’s payment system uses modern cryptography to ensure that transactions are not only untraceable but also unlinkable. No one will ever know who sends the payment nor who receives it. As a blockchain product, it’s decentralized, which eliminates any threats on security because no personal data is required from any user. This means that hacking and fraud are completely impossible. There are no banks nor governments that control it, therefore all transactions are anonymous, and so are the users. Not even its developers can shut it down or block it. Anyone can move freely within this virtual marketplace and exchange anything for anything anywhere in the world.
Virie Market is due to launch its ICO anytime soon, and we should all watch out for it as it may become the financial system of choice soon. Anyone who will invest in it has the guarantee that their hard-earned money will have a return of investment because its creators made sure that they have already completed a robust product that is ready for use right now using their own finances. The funds that will be collected during the ICO will be used to conduct large-scale public relations campaigns in Asia, America, Oceania, and Europe to promote this product. Don’t be left behind. Download it here as early as now.