Zcash Foundation is now public charity

According to official Twitter account, Zcash Foundation has been granted 501 (C) 3 status - it is now officialy a public charity
26 October 2017   1742

The non-profit organization Zcash Foundation announced the receiving of a charitable organization status. As the representatives of Zcash Foundation insist, this makes it the first charitable organization which activity is aimed at improving Internet payments and creating an infrastructure that would ensure the privacy of user data.

The foundation received the status of organization 501 (c) (3), which provides exemption from some federal income taxes in the United States. Under the rules of the Internal Revenue Service (IRS), for example, organizations are exempted if their activities are pursued by charitable, religious, educational, scientific or literary purposes.

When we were working with our lawyers it was important to me and several of the other board members that we accurately describe our goals—especially with regard to scientific research and public infrastructure. These may be more difficult to explain, and the IRS may be initially less comfortable with those arguments for public goods, but we were more interested in the principle of the thing: online public infrastructure and the science that makes it safe and private are just as much public goods as roads, reservoirs, and clean air or water.
 

Peter Van Valkenburgh
Member of the directors board, Zcash Foundation

It is also noted that the organization will continue to deal with issues of education in the field of crypto-currencies, technologies that provide online privacy and computer networks that manage these tools. However, the Zcash Foundation will also support open scientific research in the field of evidence of zero disclosure and related cryptographic technologies, as well as assist in building a decentralized Zcash network as an open public infrastructure.

ZCash Devs to Create ZEC For ETH Blockchain

ECC, creators of Zcash, believes this may expend their token's popularity and give more people an ability to try Zcash's benefits
14 October 2019   53

The developer of the ZCash cryptocurrency company Electric Coin Company (ECC) will issue a “boxed” ZEC token for the Ethereum blockchain. This was announced at the Ethereum Devcon5 Developer Conference by ECC Vice President of Marketing and Business Development Josh Swihart, CoinDesk reports.

According to him, a new token will be issued in the next six months. It is expected that it will provide enhanced functionality for the use of automated loans and financial products.

Subsequently, the new version of ZEC will be able to help ensure confidentiality in smart contracts to hide information about its members.

One of the most likely reasons for the integration of ZCash and Ethereum is ECC's attempt to expand the audience of users focused on the confidentiality of the coin through the market for decentralized financial instruments.

According to DeFi Pulse, Ethereum-based digital assets worth more than $ 553 million are blocked in DeFi applications. At the same time, ZCash’s popularity has not increased over the past year.

Swihart said the goal is now to turn zcash into a platform developers can build on “for all of the DeFi applications” .

If you want to do lending, if you want to do DAOs [decentralized autonomous organizations], all of that stuff could be done with zcash as well. … Ultimately, we want zcash shielded [addresses] to be usable in ethereum smart contracts.
 

Josh Swihart

Vice President of Marketing and Business Development, ECC

Nevertheless, ensuring cross-chain compatibility can only be a temporary solution, as it is unclear how this will work in Ethereum 2.0. In addition, such plans mean years of research and development, said James Prestwich, co-founder of Summa.