SECRET moonshot? The unspoken part of crypto that's going to EXPLODE: Blank Privacy Wallet

Hey guys, and welcome back to Box Mining. Today we're going to talk about a very important area in crypto. And this area has some of the least development and the most opportunity. And you guessed it, this area is privacy. Now the reason why a lot of people don't really take a look at privacy is because they think, oh, privacy is for criminals, right? Only criminals have something to hide. But this is where most people are wrong. And it's to do with the way cryptocurrencies are developed. It means that they're extremely trackable. Say just take, for example, a very easy case that you just walk into a coffee shop and you pay with cryptocurrencies. Now the problem is, is that once the moment that the crypto is sent at the coffee shop, anyone that's been part of this transaction knows who you are and can track exactly what's going on with your wallet. And this is going to lead to some really serious and damaging consequences. Say, for example, someone finds out exactly how much crypto you own. And now you set yourself up to be a target for robbery, right? And this actually isn't just something I'm making up. It's something that happened to quite a few of my friends in the process, which is why a lot of people, when they actually do spend crypto, they're extremely paranoid. Now, this doesn't really have to be the case. In fact, there's a lot of projects that are designed to protect their privacy. And today we're talking about one of them, Blank, which really is like a comprehensive solution. It deals with a lot of the elements and makes crypto extremely easy to use. Now, to be private, right? There's two key elements that you really must eliminate. So first and foremost, when a transaction is broadcast, you must eliminate the IP. All right, so the IP gives someone information of where you are, your physical location. Now, that is extremely scary because once people know where you are, where you live, then yeah, they can potentially try to do something bad to you, right? Especially if they know when and where you send particular transactions. These are now key weaknesses that you must eliminate. The second really important part is your address. Now, the problem with most cryptocurrency addresses is that people think, oh, it's anonymous. But the moment you send that crypto, someone can connect your name with the address. And then they can start tracking the address for eternity. Now, take, for example, my Ethereum address. This address is available to the public. And a lot of people know that this is my address. Now, someone can start spying on me and figuring out, okay, what tokens do I own? What's happening when I receive new tokens and every single bit of information about me. Now, without privacy, the way I deal with it right now is to use my public accounts as little as possible, right? Don't run through most of my stuff through. It's the best practice. But there must be a better way, right? And that's exactly what Blank is doing. They're offering the ability to have more private addresses and also to have current addresses and convert those coins into private parts. So anyways, obviously, this is just tackling the tip of what's happening on the privacy blockchain. But I found Blank to be quite interesting and I thought it's good to have a future for a kind of explanation of what's going on. I hope you guys really enjoyed this type of video explaining in depth what's covering with a particular project or a subject. And if you have any requests that you want to make and for me to cover more videos on, leave a comment down below. I'd love to hear what you think. And if you found this video useful, make sure you share it, click like and subscribe. It really does help this channel. Oh, let's get started. To really start and help explain things, I think the best way to really look at it is to actually just look at the product. So what I'm going to show you right now is a sneak peek, right? This is a very, very beta early peek of what's happening on the Blank wallet. Now you can see here I have the wallet loaded up and it's just this little black and white dot up on the top here, almost similar to MetaMask. Now this is a wallet they can directly use as an extension on Chrome or on Brave. One thing to note here is that this is a very early sneak peek of the product. So eventually it might look something very different. It might look even better. And of course, the functionality is very limited right now for testing purposes, but it does demonstrate what can be used here. So say, for example, this is a test account and it's got testnet ETH. It's not real ETH on here. But one of the key features you'll notice is that it functions and has, say, send and receive pretty much the same way Ethereum does. Right. So on MetaMask. So you can have your Ethereum address here and then you have your send, you can send to a public address. Now, what's special about Blank wallet is on the bottom here. This is the blank deposit and the blank withdraw. All right. This is where things get very interesting. So say for a blank deposit, what it does is that you can take whatever's in your wallet right now and then really send it to a mixer. This is where you gain anonymity, right? This is where you make your known address. You know, you get the address here. You make that untrackable. This is where you make your coins untrackable, unlink that history. So here, let's say, for example, I'm just going to send 10 ETH. We're going to click the button, confirm. So what I've done here so far is I've sent 10 ETH and I kind of made that disappear. Disappear now that someone's spot who's spying you, they don't really know where that 10 ETH is going to go. So what's next? I made a blank deposit. Now, where did my 10 ETH go? How do I make that reappear so I can spend it? This is where the blank withdraw function comes in. So if you click blank withdraw, you can see that 10 Ethereum that's saved into this blank wallet. And we're going to make it reappear on the other side. You select it. And there's two ways to do it. So one is to an external wallet or another blank wallet. So I made one already. So I'm going to select an account here. I'm going to just make it, you know, this easy one. This is the coffee account. I'm going to make it reappear on an address that I'll just use to buy coffee or buy whatever that's online. Click confirm. And then I'm ready to make it reappear. Now, overall, this coffee account has a huge advantage now. No one knows where my original funds come from because I sent that to the blank mixer. So no one can tie my full main account with my coffee account. And this means that whenever I say go out and buy coffee, I can kind of use this freely without thinking, ah, you know, I don't want people tracking me. I don't want people knowing how much crypto I have. I don't want people following me because they know that. And as a case where that crypto can now behave more like cash, because when you just give someone cash, they can't track anything about that. Right. So that's one part of privacy done, which is about tracking. The other part that's coming and that's being built straight into wallet is a connection to the Tor network. So what Tor does is that it kind of hides your IP address. So this is like when you send a transaction, people can read your physical location or get or kind of guess your physical location via your IP address. And this is relatively easy to solve. So once it links with Tor, this transaction is broadcast to the Tor network and it completely hides your R. So people will think, oh yeah, it's coming from Ukraine and people can have fun tracking my location in Ukraine if they really so want. Now let's take a dive into the technology that makes this possible. It's not too complicated. It's some of the most beautiful mathematics that's been done in the past decade or so known as ZK snark technology. You probably heard this term floating around a lot and without going into too much complication, what it does is it severes a link. It makes a proof that you did something, you can submit that publicly to everyone that you sent or made something disappear. And then you can also make it reappear, but without publicly telling everyone where it goes. I think that's like a little bit of a mathematical voodoo over here, but there's some strengths and limitations to this, which I think is much more interesting to talk about than just the pure technology. First and foremost, when you use something like ZK snark technology, because you're mixing that, you must make sure that you're having sufficient number of people to mix it with. So this comes with one of the first kind of limitations of this. And you can definitely see that here on the website where when I showed you guys that deposit process, you must make sure that the amounts are within the set available limits. So 0.1, 1, 10 and 100. So yes, as it stands at this current point, it does mean you can only send in these amounts. This means that there's sufficient number of people sending the same amounts that you can mix up the funds and people can't prove it came from a certain amount. Because say, for example, you send exactly 0.13378964. Well, if you're the only one sending that, then people know exactly who you are. What I see in the future, obviously, as more and more people use this type of ZK snark technology to mix their coins, there's the amounts that's going to be given available options. That's going to increase. And also the amount of privacy is also going to increase because you have more people using it. So I feel like that's kind of the limitations of this type of technology where you cannot send the exact amount. So you must send in these set amounts, like 0.1 or 1 ETH. Now, blank is doing other stuff around this too. Say, for example, they're adding automatic deposits, which will automatically break it into the set amounts. So if you have like, say, 3 ETH, well, it's going to just break it into 3 times 1 ETH, if that makes sense. It's also going to allow a partial withdrawal feature in the future, which will allow the exact amount that you want to be sent to be partially withdrawn. This makes, this gives you additional privacy. And at the same time, it makes it a lot easier. So if you really do want to spend for that coffee example, the exact amount 0.001239 ETH, then the partial withdrawal feature is what's coming on the roadmap. So in terms of roadmaps right now, I've shown you guys the early, early preview of the blank wallet extension that just comes up here. Obviously, I've been notified that this is very early and, you know, expect things to change and improve. So that's going to come later on. So blank is going to come later on. That's right. It's early access at this current point. Now, what's going to happen in the future for blank is that they're going to add V2. So going to add ERC20 support and Web3 compatibility. So it's going to be used exactly like MetaMask right now. So it's kind of like a better version of MetaMask. They're going to go through the security audits in Q2. And in Q3, that's when the most exciting parts happen. So say, for example, the automatic deposit system, where instead of, you know, going through the steps and selecting how much to deposit each time, this gets done automatically. And of course, some core features like a one-time address, which you can just give out to people, allow them to deposit. And, you know, it's one time. People can track the address afterwards. So that's kind of what's happening in Q3. Also, this Tor system, this is the privacy feature that kind of hides your IP. That's coming in Q3. Now, obviously, of course, I do own this token. And I do want to talk to you a little bit about the token utility here. Now, first and foremost, blank isn't free. Nothing good in this world is free. So blank does cost money to use. There's an associated fee. And that fee is paid in blank tokens. Now, what's interesting is that when the fee is paid by users of the platform, 50% of that is just directly burnt. So it decreases the overall supply. And then the other 50% is sent to liquidity providers. So these are like hardcore holders of the project that provide liquidity to the project. This is where it's going to be sent. So yet again, some farming opportunities there if you're interested. They also have a referral system. So they're trying to grow this extension, try to combat and try to kind of be the next MetaMask. And they have a referral program to that. And of course, token holders are treated like VIPs. They get kind of like the exclusive membership. Overall, the key here is with the token utility, the fee reduction. So people who are big users of the blank wallet, they should hold some blank to reduce their fees. It's more economically feasible. And that's kind of the core utility of this token. And now that covers pretty much everything I want to talk about blank. And I hope you found this useful, especially when it comes to why we need privacy. This is something that I feel is so poorly understood in this space. Everyone who is using crypto, they are either very paranoid and have like, say, 100 ETH accounts like I do. And it's a pain to manage. Or they don't know how to use it. And they get tracked. And sometimes bad things happen. We definitely don't want that. I definitely feel like this is one of the key barriers to mainstream adoption. And I think a lot of mainstream don't even understand why this is important for us. So there's still a huge education element here. But I think it's absolutely critical. So guys, tell me what you think about blank wallet. Tell me what you think about privacy. Did you gain something from this or not? Tell me in the comment section down below. I hope this is something very intriguing and interesting for you. If you do want to check out the blank token, it's already being traded right now. I'll put a link down below for the CoinGecko. So you're going to see what's happening with it. I'm definitely a holder. So, you know, I'll declare that up front. And with that, guys, I hope you guys enjoyed a series of explaining stuff. If you guys want more, especially if you want me to cover something that you are really passionate about, leave a comment down below. And I'll, you know, I'll do it. That's the whole point of this channel. So anyways, thank you guys so much for watching. Click like and subscribe down below. See you in the next video.