The Privacy Solution We Need

How many of you have heard of a privacy Layer-1 Network called Secret Network?

I've been spending the last few months researching a lot of networks looking for an ecosystem which could support the needs of my business. It's been exhausting and frustrating work because they're some amazing networks out there, but generally missing something for what I need both personally and our business.

But Secret Network (built upon the Cosmos Ecosystem) ticks all the dots:

Wallet and Transaction Privacy:

Not just for business use but also personal. The transparency of blockchain is amazing, but at the same time knowing some random person can look into the transaction history of my wallet and see where payments have been coming and going, then looking into those wallets too, makes me nervous. Imagine anyone being able to access your banking history, this is essentially the same. So privacy for both myself and our business was important.

Access to EVM Networks:

For better or worse the overwhelming majority of transactions occur through the Ethereum ecosystem, other known as the Ethereum Virtual Machine (EVM). The interoperability of 100+ networks has it's advantages, although maybe only around 20 of them are any good or will survive this bear market. But consider my website accepts crypto payments on Polygon, being able to move Capital from a Polygon wallet to a Secret Network wallet was needed. Thankfully it's very simple. Move capital from Polygon to BNB Chain via a DEX Aggregator like Rubic or Synpase Protocol, then utilising the Secret Network bridge to bring over select stablecoins (USDT, USDC, BUSD) into the Keplr wallet. Keplr is to the Cosmos ecosystem what Metamask is to EVMs. Secret Network is built upon the Cosmos SDK.

Decentralised Exchanges:

We’ve brought EVM versions of the popular stablecoins mentioned previously, now we need to either wrap them into Cosmos or Secret Network versions for general use within that ecosystem. The DEX Aggregator built by BTN Group takes care of that, converting BUSD (BSC) into sBUSD, or other Cosmos native tokens. The BTN Group DEX Aggregator is the only one to-date built on Cosmos. There's also a native DEX for the Secret Network called Secret Swap. This operates similar to a DEX Aggregator but for networks and tokens built on Cosmos. So now we can swap from EVMs and actively participate in the Cosmos Ecosystem accessing their protocols and DeFi platforms.

Non-Custodial Decentralised Wallet with Fiat off-ramp:

This is where Secret Network really stands apart. No other network offers this; Nothing built on EVMs, Algorand, Cardano, Solana, XRP and so on... A non-custodial wallet by a decentralised & trustless provider, offering a pre-paid debit card backed by VISA. Scallop is the closest, but Scallop is centralised. So although they offer a non-custodial wallet, due to regulatory compliance they can still cancel your debit cards and inhibit the transactions to and from your wallet if they feel it's necessary. Not so with the Fina Cash wallet. The debit card utility is not yet available, but it will be. It's also worth noting that Fina Cash is compatible with the Ledger Nano X for maximum security. Fina Cash and Keplr wallet both offer access to staking and farming pools to generate passive income. At the time of writing Fina Cash $SCRT staking is offering 20% APR rewards. The final point for this wallet, wouldn’t you rather spend your crypto in a way which can't be reported to any agency as a taxable event? Food for thought!

Data Security: 

This is very important for any registered business, but should be for everyone anyway, securely storing your most personal and sensitive data. Utilising cloud services by centralised providers is always risky. Google seems to have excellent data security; it recently survived the biggest DDOS (denial of service) attack in history. But it's still a centralised entity so will always have vulnerable points. So how safe does that make Amazon, Microsoft, IBM, Apple etc? Why store your most sensitive data on these platforms which could be exposed in a hack, then sold on to bad actors? The perfect example of this are your seed phrases. Although there's plenty of advice to NOT store your seed phrases on your computer or in an online cloud, most of us do. Quite simply because it’s easier to access when needed and paper is more likely to get lost or damaged. Serenity Shield offers the solution. A trustless non-custodial data security provider in their Strongbox (patents pending). On top of being the ideal platform to store sensitive details such as your seed phrases, business documentation, favoured pictures, birth certificates etc, you can utilise their Inheritance service. You can plan for the event of your death who gains access to all this information, so it’s not lost forever. If you want your family to benefit from your crypto activity after your death, here’s your solution. If you want your crypto based business to be able to function after your death, here’s your solution. At least it will be when they launch. This shouldn’t be too far away now, though still no firm date set.

Secure Communications:

You see it in the media all the time; email leaks, txt leaks, audio recordings leaked… Being able to communicate securely is not only a business necessity, but a fundamental human right for everyone. To this end Alter have developed their own trustless decentralised secure communication platform. Admittedly this isn’t a new technology, plenty of other applications built on blockchain provide this utility such as Proton, Syscoin and others. But having this option available within the ecosystem itself is very useful, it’s means we don’t have to continuously navigate across networks to communicate.

Secret Network offers far more in their ecosystem; DeFi, GameFi, Metaverse and NFT opportunities. But we decided to focus on these specific areas. $SCRT is the native token of the ecosystem and in itself looks to be a grossly undervalued coin. In a bear market these are potential golden opportunities.

Mentioned Application Links:

Rubic DEX Aggregator (EVM): https://app.rubic.exchange/
Synapse Protocol DEX Aggregator (EVM): https://synapseprotocol.com/
Metamask (EVM): https://metamask.io/
Keplr Wallet (SCRT): https://wallet.keplr.app/
Fina Cash (SCRT): https://fina.cash/
Secret Network Bridge (SCRT): https://bridge.scrt.network/
BTN Group DEX Aggregator (SCRT): https://btn.group/secret_network/button_swap
SecretSwap DEX (SCRT): https://app.secretswap.net/swap
Serenity Shield Data Storage & Inheritance (SCRT): https://serenityshield.io/
Alter Secure Comms (SCRT): https://altermail.live/
Secret Network (SCRT): https://scrt.network/

This article was brought to you by Milky, on behalf of MGH.