Zcash Gemini - Reading Assignment

[Grant_Hawkins]

Read a Zash blog post on their partnership with Gemini, a cryptocurrency investment fund run by the Brothers Winklevii. Answer the questions and post your answers below:

Gemini Announces Support for Zcash - Electric Coin Company

1. What other currencies does Gemini support?
2. Finish the quote: “Bitcoin is digital _____, and Zcash is digital _____.”
3. What does the NYDFS approval process entail?
4. Does Gemini support shielded addresses?

[LeoSp22]

1. Today it supports Bitcoin, Ethereum, Bitcoin Cash, Litecoin and ZCash. However, when the article was published (May 2018) it only supported BTC, ETH and ZEC.
2. Bitcoin is digital Gold and ZCash is digital Cash.
3. The process includes an overview of the technology and a comprehensive descriptive plan to prove the actual usability and impact of the project proposed. Plus, it must be able to maintain the adherence to a wide range of standards (banking compliance, KYC, AML and so on so forth).
4. According to the article, Gemini would have supported deposits from both unshielded and shielded transactions, but withdrawals could only be made to unshielded addresses. However, the plan was to integrate shielded withdrawal too.

[bitbooz]

1.Today Gemini supports Bitcoin, Ethereum, Bitcoin Cash Zcash and Litecoin.
2.Bitcoin is digital Gold and ZCash is digital Cash.
2.All anti-money laundering (AML) laws, know your customer (KYC) requirements, and consumer protections set forth by the Bank Secrecy Act (BSA), the New York Banking Law, and the NYDFS. This process also included an overview of the Zcash technology and a comprehensive plan that described Gemini’s ability to adequately meet any specific challenges posed by the addition of this new virtual commodity.
4.The Gemini release also provides clarity on its plan for supporting shielded addresses. Gemini states, “At launch, Gemini will support deposits from unshielded or shielded addresses, but will only support withdrawals to unshielded addresses. We are working to support withdrawals to shielded addresses in the future.”

[anoninuk]

1. What other currencies does Gemini support?

Bitcoin and Ether

2. Finish the quote: “Bitcoin is digital gold, and Zcash is digital cash.”

3. What does the NYDFS approval process entail?

An overview of the Zcash technology and a comprehensive plan that described Gemini’s ability to adequately meet any specific challenges posed by the addition of this new virtual commodity.

4. Does Gemini support shielded addresses?

Gemini states, “At launch, Gemini will support deposits from unshielded or shielded addresses, but will only support withdrawals to unshielded addresses. We are working to support withdrawals to shielded addresses in the future.”

[anoninuk]

1. What other currencies does Gemini support?

Bitcoin and Ether

2. Finish the quote: “Bitcoin is digital gold, and Zcash is digital cash.”

3. What does the NYDFS approval process entail?

An overview of the Zcash technology and a comprehensive plan that described Gemini’s ability to adequately meet any specific challenges posed by the addition of this new virtual commodity.

4. Does Gemini support shielded addresses?

Gemini states, “At launch, Gemini will support deposits from unshielded or shielded addresses, but will only support withdrawals to unshielded addresses. We are working to support withdrawals to shielded addresses in the future.”

[pepemadrid]

1. Bitcoin and Ether.
2. digital gold, … digital cash
3. The NYDFS is the first regulatory agency in the world to supervise Zcash.
4. Yes.

[CryptoDragon]

1. What other currencies does Gemini support?
   Bitcoin and ether

2. Finish the quote: “Bitcoin is digital _____, and Zcash is digital _____.”
   Bitcoin is digital gold, and Zcash is digital cash.

3. What does the NYDFS approval process entail?
   An overview of the Zcash technology and a comprehensive plan that described Gemini’s ability to adequately meet any specific challenges posed by the addition of Cash

4. Does Gemini support shielded addresses?
   At launch, Gemini supports deposits from shielded addresses but not withdrawals to shielded addresses. Support for withdrawals to shielded addresses will be added later.

[csh2000]

1. What other currencies does Gemini support?
   Bitcoin, Ethereum, Bitcoin Cash, Litecoin and ZCash.

2. Finish the quote: “Bitcoin is digital _____, and Zcash is digital _____.”
   Bitcoin is digital gold, and Zcash is digital cash.

3. What does the NYDFS approval process entail?
   Trade and custody the aproved digital asset under compliance standars.

4. Does Gemini support shielded addresses?
   You can deposit but not whithdrawal for the moment, it will be add in the future.

[SalJoaNoc]

1. In the time of article, Gemini supported only Ethererum, Bitcoin and Zcash.
2. Bitcoin is digital gold, and Zcash is digital cash.
3. This process included an overview of the Zcash technology and a comprehensive plan that described Gemini’s ability to adequately meet any specific challenges posed by the addition of this new virtual commodity.
4. Only for deposit, not for withdrawal.

[Dejan]

1. What other currencies does Gemini support?
   • BTC and ETH
2. Finish the quote: “Bitcoin is digital _____, and Zcash is digital _____.”
   • Digital Gold and digital cash
3. What does the NYDFS approval process entail?
   • the highest level of fiduciary obligations and banking compliance standards, and must adhere to all anti-money laundering (AML) laws, know your customer (KYC) requirements, and consumer protections set forth by the Bank Secrecy Act (BSA), the New York Banking Law, and the NYDFS.
   • So basically zero privacy for clients of gemini.
4. Does Gemini support shielded addresses?
   • For deposits yes, not not for withdrawals.

[diogozas]

1- Bitcoin and Ethereum

2- “Bitcoin is digital gold, and Zcash is digital digital cash.”

3-

• Held to the highest level of fiduciary obligations and banking compliance standards.
• Must adhere to all anti-money laundering (AML) laws, know your customer (KYC) requirements, and consumer protections set forth by the Bank Secrecy Act (BSA), the New York Banking Law, and the NYDFS.
• To add Zcash Zcash Gemini’s had to demonstrate the ability to adequately meet any specific challenges posed by the addition of this new virtual commodity.

4- Only for deposits not for withdrawals, Gemini wants to add shielded withdrawals in the future.

[cme]

@Grant_Hawkins

• What other currencies does Gemini support?
• Finish the quote: “Bitcoin is digital _____, and Zcash is digital _____.”
• What does the NYDFS approval process entail?
• Does Gemini support shielded addresses?

1. Besides ZEC, at today’s date (2020-04-30): GUSD, BTC, ETH, BCH, LTC, LINK, BAT, DAI, OXT.
2. “Bitcoin is digital gold, and Zcash is digital cash.”
3. Being very regulated implies all crypto addresses are heavily bounded to KYC and AML
4. For deposits only: “At launch, Gemini will support deposits from unshielded or shielded addresses, but will only support withdrawals to unshielded addresses.”

[begood]

1. Bitcoin, Ethereum, Bitcoin Cash, Litecoin and ZCash.

2. Bitcoin is digital gold, and Zcash is digital cash.

3. Must adhere to all anti-money laundering (AML) laws, know your customer requirements (KYC), and consumer protections set forth by the Bank Secrecy Act (BSA), the New York Banking Law, and the NYDFS.

4. Only for deposits now not for withdrawals. For WD it will be implemented in the future.

[cocco]

1. bitcoin and ether
   2.gold, zcash is digital cash
   3.This process included an overview of the Zcash technology and a comprehensive plan that described Gemini’s ability to adequately meet any specific challenges posed by the addition of this new virtual commodity.
   4.“At launch, Gemini will support deposits from unshielded or shielded addresses, but will only support withdrawals to unshielded addresses. We are working to support withdrawals to shielded addresses in the future.”

[mayjer]

What other currencies does Gemini support?

At the time of writing the only other coins Gemini supported was BTC and ETH.

Finish the quote: “Bitcoin is digital _____, and Zcash is digital _____.”

Bitcoin is digital gold and Zcash is digital cash.

What does the NYDFS approval process entail?

• Overview of ZCash technology
• A plan to handle issues that arise because of the anonymity feature of Zcash- i.e. allowing deposits from both unshielded and shielded addresses, but withdraws only to unshielded addresses.

Does Gemini support shielded addresses?

Only on deposits, not on withdraws.

[Samm]

1. Gemini currently supports BTC, ETH, BCH, LTC, and ZEC
   2, Bitcoin is digital gold and Zcash is digital cash.
2. Adherence to AML and KYC laws
3. Gemini supports deposits from unshielded or shielded addresses, but currently will only support withdrawals to unshielded addresses

[dave-dave]

• What other currencies does Gemini support?
  bitcoin and ether.

• Finish the quote: “Bitcoin is digital gold, and Zcash is digital cash.”

• What does the NYDFS approval process entail?
  This process included an overview of the Zcash technology and a comprehensive plan that described Gemini’s ability to adequately meet any specific challenges posed by the addition of this new virtual commodity.

• Does Gemini support shielded addresses?
  At launch, Gemini will support deposits from unshielded or shielded addresses, but will only support withdrawals to unshielded addresses. We are working to support withdrawals to shielded addresses in the future.

[andrewfleming]

1. What other currencies does Gemini support?
Gemini also supports Bitcoin and Ether.

2. Finish the quote: “Bitcoin is digital _____, and Zcash is digital _____.”
According to Cameron, president of Gemini: "Bitcoin is digital gold, and Zcash is digital cash.

3. What does the NYDFS approval process entail?
The NYDFS approval process entails compliance with AML laws, KYC requirements, and consumer protections set forth by the BSA, New York Banking Law, and NYDFS—but AML, KYC, and “consumer protections” at best are exercises in inefficiency and in actuality are antithetical to the crypto/cypherpunk ethos.

4. Does Gemini support shielded addresses?
Gemini supports receiving funds from shielded addresses but does not yet support withdrawals thereto.

[dAnijboned]

1. What other currencies does Gemini support?
   Bitcoin and Ethereum

2. Finish the quote: “Bitcoin is digital _____, and Zcash is digital _____.”
   Bitcoin is digital gold, and Zcash is digital cash.

3. What does the NYDFS approval process entail?
   An overview of the Zcash technology and a comprehensive plan describing Gemini’s ability to adequately meet any specific challenges posed by the addition of this new virtual commodity.

4. Does Gemini support shielded addresses?
   Only for deposits. Withdrawals use unshielded addresses.

[arod773]

Q1: BTC and ETH

Q2: BTC is digital gold, ZCash is digital cash

Q3: Gemini went through an extensive approval process with the NYDFS prior to adding support for Zcash. This process included an overview of the Zcash technology and a comprehensive plan that described Gemini’s ability to adequately meet any specific challenges posed by the addition of this new virtual commodity. As well as implementing KYC laws and AML and the such.

Q4: Gemini supports both addressed but only allows withdrawals into unshielded addresses due to KYC. They are looking to add this feature for shielded wallets in the near future.