When THORChain lists Monero...

Direct from the desk of Dane Williams.

---

Not if, but WHEN THORChain lists Monero, it’s game over for regulators. Here are my thoughts.

THORChain (RUNE) is a decentralised liquidity network that enables native cross-chain swaps.

All without the need for wrapping or pegging assets.

In other words, it allows users to easily exchange one cryptocurrency for another across different blockchains.

On the other hand, Monero (XMR), is a privacy-focused cryptocurrency that utilises ring signatures and stealth addresses to keep transactions anonymous and untraceable.

Has the lightbulb gone off in your head yet regarding what will happen when THORChain lists Monero?

While there has always been a lot of speculation about the potential impact of a listing without much action, it really is an inevitability.

In this post, I explore the possibilities of a privacy coin DEX listing and what it could mean for the entire financial landscape.

The positive impact of a Monero (XMR) listing on THORChain

THORChain listing Monero (XMR) will have a significant impact on the financial landscape.

It’s not even a question.

One of the main positives of a listing would be increased privacy and fungibility for society.

Not just the rich.

But every single person, no matter their background or geographic location.

This would have a positive impact on individuals who value their privacy.

Particularly in countries with strict financial regulations or those that are prone to authoritarian government surveillance and the like.

You see, Monero (XMR) is a privacy-focused cryptocurrency that uses ring signatures and stealth addresses to keep transactions anonymous and untraceable.

If THORChain listed XMR, users would instantly have the ability to conduct transactions without the fear of being tracked or monitored.

This would give them the freedom to transact without having to worry about anything or anyone.

Everything would change.

By essentially turning all cryptocurrencies into defacto privacy coins, their fungibility and therefore value would actually be enhanced.

A Monero THORChain listing would be good for everyone.

Consider this.

THORChain listing Monero (XMR) would significantly increase the quality of life across all of society.

For me, the pros would by far outweigh the cons.

Do criminals transact privately now?

Of course they do, so you’re beating a dead horse by limiting Monero’s use anyway.

That argument against Monero is literally the worst…

The challenges that governments and regulators will face

While the increased privacy and fungibility offered by a THORChain listing of Monero (XMR) has many positive benefits, the biggest challenge will be for regulators.

The bottom line here is that regulators will have to adapt to a new system where transactions are untraceable.

Obviously this will make it more difficult to monitor financial activity and prevent money laundering and other illicit activities.

Ohh scary, right?

However, the truth is that technology is evolving at such a rapid pace that it will be impossible for regulators to keep up.

Decentralised finance is already pushing the limits of what is possible and it's unlikely (again, impossible) that regulators will be able to control the technology.

Moreover, I’m obviously of the opinion that personal freedom is paramount.

Individuals should have the right to conduct transactions without fear of being monitored or tracked, particularly in countries with oppressive governments or strict financial regulations.

The ability to transact privately is a fundamental human right, and technology is enabling people to exercise this right more effectively than ever before.

The challenges for financial institutions and governments who rely on monitoring financial activity to prevent money laundering and other illicit activities are real.

However, it is important to recognise that the technology has already passed them by.

Instead of trying to control or regulate it, regulators should focus on adapting to the new reality and finding ways to work with the technology to promote personal freedom via education.

Education is the best form of protection that they can provide their citizens in the new paradigm.

Will THORChain ever list Monero?

Wrapping up, the question of whether THORChain will ever list Monero (XMR) remains unanswered.

But it is still a topic of significant discussion among cryptocurrency enthusiasts on Twitter and Threads.

The potential impact of such a move cannot be overstated, and it will definitely be a game changer in the world of finance WHEN it happens.

The ability to move between XMR without permission and make transactions on all cryptocurrencies go dark would provide enhanced privacy and fungibility for users.

Think about it.

It would essentially allow every single coin listed on the THORChain DEX to become a privacy coin.

I keep saying it, but the game changing power of a single DEX listing for Monero can’t be understated.

Sure, this also presents challenges for regulators and financial institutions as they try to adapt to a new system where transactions are private and untraceable.

But remember regulators aren’t meant to be some greater power.

They’re meant to work for the people and you know… actually help us!

This will force their hand in having to actually give their citizens credit and educate rather than regulate.

Regardless of when THORChain lists Monero (XMR), it is clear that the technology is evolving rapidly.

Going forward it will be all of our responsibility to find a way to balance privacy and security, while still maintaining financial integrity.

I don’t know about you, but I’m optimistic for what this type of future will hold.

Best of probabilities to you.

Posted Using LeoFinance ^Beta