PIVX is a form of digital online money using blockchain technology that can be easily transferred all around the world in a blink of an eye with nearly non-existent transaction fees with market leading security and privacy. As mentioned in the title, security cannot be overstated in today’s world of digital currency and online transactions. I personally do not mind if someone sees where I spend my money and what I spend it on, but it is my right to openly disclose or not disclose that information. Actually, it is everyone’s right to choose whether or not to disclose their financial information and who to disclose it too. PIVX allows you to send money directly from your bank account while making your account information completely anonymous.
In a perfect Utopian society, keeping all financial transactions private would all be hunky dory, but not everyone (i.e. drug dealers, criminals, human traffickers, extortionists, etc.) has the best interests of others in mind. What are the safeguards PIVX has in place to thwart this type of criminal activity? I would love to hear from the company on this issue and understand more of their reasoning behind making all financial transactions completely private. This question is not meant to discourage anyone from buying PIVX tokens, but to rather openly discuss real issues that have been brought up by my readers.
So, the issue of disguising criminal activity aside, what would be my incentive to buy PIVX tokens and get involved with the company? Besides the security and privacy of their network, earning rewards is a major incentive. All blockchain communities that are decentralized have some sort of rewards system for people who help secure their network. In some systems like Bitcoin, these rewards are given to ‘Miners’, a select subgroup of people who secure the Bitcoin network. In PIVX, anyone who has PIV can help secure the network and is able to receive rewards for their efforts. The rewards are given in PIV tokens and currently are worth $3.87 per token. The coin is ranked number 60 on the CoinMarketCap.com website and has a market capitalization of $215.9 million.
To sum up this article, PIVX allows users to transfer money directly from their bank accounts to anyone anywhere in the world while making those transactions completely private, secure, and anonymous. I asked what, if any, safeguards PIVX has against financial transactions that support criminal activity. Finally, if you want to mine PIV coins and earn rewards using their system, all you need is your computer and some PIV coins to get started and earn 5 percent for just keeping your computer on and running. Also, an important characteristic of PIVX I forgot to mention is that they are run by “Community Designed Governance,” which means they practice an upside-down triangle when formulating and implementing decisions. A single PIV coin holder can offer his or her suggestion into the community where it is evaluated, discussed, and adjusted to comply with the wants of the community as a whole and then implemented into PIVX policy. This type of transparency and democracy is inspiring in today’s world of double talk and underhandedness…