Canada Encourages Cannabis Sector to Transact Discreetly

The Office of the Privacy Commissioner of Canada has published a document advising Canadian citizens to use cash to conduct transactions pertaining to cannabis in order to protect personal information. In response to the guidance, Etoro market analyst Mati Greenspan has predicted the liberalization of Canada’s cannabis sector will bolster local privacy coin adoption.

Canadian Government Advises Consumers to Consider Privacy When Purchasing Cannabis

Canada Encourages Cannabis Sector to Use Cash, Analyst Predicts Privacy Coin AdoptionThe office of the Canadian Privacy Commissioner has published a “guidance document” seeking to warn cannabis users of privacy concerns pertaining to transactions related to marijuana.

The document, titled “Protecting personal information: Cannabis transactions,” emphasizes that “Cannabis is illegal in most jurisdictions outside of Canada,” and as such, the personal information of cannabis users should be treated as “very sensitive.”

For example, the privacy commissioner highlights concerns that “some countries may deny entry to individuals if they know they have purchased cannabis, even lawfully.”

Cannabis Retailers Urged to Recognize Sensitivity of Customers’ Data

Canada Encourages Cannabis Sector to Use Cash, Analyst Predicts Privacy Coin AdoptionThe commissioner pressures cannabis retailers to ensure that “adequate physical, technological, and organizational security measures are in place to safeguard personal information,” emphasizing that security processes “must recognize and respond to the sensitivity of this information.”

Where possible, the commissioner asks that retailers collect “the least amount of personal information” and “refrain from recording personal information” in order to minimize the impact from potential data breaches.

The document also recommends that retailers collect email addresses rather than names and addresses for mailing lists or memberships, and “only use video surveillance as a last resort.”

Privacy Commissioner Encourages Cannabis Consumers to Purchase With Cash

Canada Encourages Cannabis Sector to Use Cash, Analyst Predicts Privacy Coin AdoptionThe commissioner emphasizes that cannabis purchasers take care not to provide more personal information that is necessary to retailers, noting that consumers may be required to show identification in order to verify age.

The guidelines also recommend that consumers ask retailers whether personal information is stored on servers located in Canada or overseas, encouraging consumers to only trade with retailers that host information in Canada.

The privacy commissioner also advises that consumers avoid conducting transactions using credit cards as such involve the collection of the credit card number and cardholder’s name. Instead, the commissioner encourages Canadians to consider using cash to conduct cannabis-related purchases.

Etoro Analyst Predicts Boost to Privacy Coin Adoption

Canada Encourages Cannabis Sector to Use Cash, Analyst Predicts Privacy Coin AdoptionMati Greenspan, a market analyst for Etoro, took to Twitter to react to the privacy commissioner’s document, predicting that the government’s criticisms of the mainstream electronic payment infrastructure will likely boost the adoption of privacy coins among Canadian citizens.

“This will almost certainly increase the usage of privacy coins…in Canada,” Greenspan tweeted.

Author: Samuel Haig 
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Monero Unveils Tari, a Second-Layer Protocol Set to Compete With Ethereum

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Monero (XMR) has introduced a brand new second-layer protocol called “Tari.” As a cryptocurrency, it will allow users to create and trade digital assets on top of the privacy-oriented cryptocurrency’s network.

Tari has initially been developed by lead Monero maintainer Riccardo Spagni, Naveen Jain, and Dan Teree. New headquarters have been developed in Johannesburg, South Africa for an initial centralization, which comes in the form of the Tari organization.

Riccardo Spagni revealed he developed the concept for Tari when asking himself about the importance of cryptocurrencies in the world of finance, with the likes of Bitcoin representing the most widely used of them. Tari aims at competing against Ethereum, due to the level of speed, flexibility and power that Ethereum affords for those that use it.

Tari, an open-source project, will reportedly allow developers to program and issue non-fungible assets like in-game items and concert tickets over the blockchain. It will allow users to take verifiable ownership of unique digital assets. Project co-founder Naveen Jain stated:

“Tari will fundamentally change the way we interact with digital assets. We are building an amazing team to steward the most useful decentralized platform in existence, empowering anyone to issue, manage, use and transfer their digital assets.”

Naveen Jain

One of the features that originally made users enamored with cryptocurrency was the fact that privacy and immediate transparency were equally possible using them. With Tari, users are free to decide on the level of privacy that they want for their transactions.

This is possible through Tari’s toggle feature and presents a real solution to many of the issues companies currently face with transparency. This is particularly true when considering the controversy surrounding Intel in January, when the CEO sold a large volume of stock as part of an established plan from 2015.

According to Monero’s subreddit, while the project will initially be somewhat centralized, the intention is to hand it over to users within the community that seek to collaborate with the Monero team in the future.

The project, according to the subreddit, has received financial backing from various venture capital firms, including Trinity Ventures, Pantera Capital, Blockchain Capital, and Canaan Partners.

As Tari will be structured as a sidechain to Monero’s network, merged-mining will be enabled, meaning users will receive Tari rewards from mining XMR. At present, there’s no timeline or roadmap for the project’s future developments.

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