Telegram, Swiss Banks, and Zcash

General
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Telegram had to adapt to regulation because it was a service.

Swiss banking survived by becoming an industry that learned how to exist alongside regulation.

So what path should Zcash choose?

Why was Telegram treated almost like an international criminal organization, while Swiss banking survived despite decades of political pressure?

Who will play the role that Swiss banking played in the age of digital finance?

Do you think the digital financial system will not need something that serves the same purpose as Swiss banking once did?

If such a role is needed, what should be the first practical step in the cryptocurrency industry to build it?

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This is precisely what ZODL is working on. Josh Swihart 🛡 on X: "https://t.co/dqYE1xevTK" / X

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@joshs

I understand the blockchain industry as an extension of IT technology. Even if its core is finance…
My mind does not live in the illusion of digital assets (or money), so I simply see them as one of the state’s tools of control and one form of technology.

Let me use Apple, which is recognized by many people, as an example.
If we go back to the past, the most outstanding thing in their world, represented by the iPhone,
was, in my memory, the technology of their products and the philosophy and values inside them.
But now, how much of their philosophy or values is still alive?
Their beginning came from philosophy and values, but in the end, what has remained?
Except for a small number of very strong supporters, their values and philosophy are ultimately nothing more and nothing less than products and experiences that people consume.

And on your X platform, you said, “Financial agency unlocks every other freedom.”
But I dislike the extreme selfishness that I feel in that industry.
I believe it makes people slaves to capital and destroys this world.
Whether it is a state’s money or the decentralization of blockchain, they are all the same to me.

Therefore, the philosophy or values of cypherpunk, especially its strong spirit of rebellion, are not important to me.
Religious faith and belief are important to me, but small matters of privacy in the human world are only secondary issues.

If you believe that, over a long time, you have carefully created great technology through your values and philosophy,
I think the time has finally come when you need the courage to destroy everything that you have worked so hard to build by yourselves.
If I rely on my guess, if you do not have that courage, you will fail.

You must now let go of your original purpose.
This original purpose is not about honesty or hard work.

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@Anzus_GemWallet

(I called on you because you requested a tag for my new article)

I did not explain the difference between Telegram and Swiss banking.
I left the interpretation of this to the readers for now.
If you are a realistic person who purely understands and accepts this “unfair world,” you will be able to find the hidden meaning that I did not directly state in this article.

Robin Hood only exists in fairy tales. They do not exist in the real world.

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Thanks for tagging me. My interpretation is that Telegram could be pressured as a recognizable service and organization, while Swiss banking survived because it became part of a broader system of institutions, laws, economic interests, and relationships with governments.

If that is the comparison, then Zcash’s long-term resilience may require more than strong technology or a single company. It would need a diverse ecosystem of independent wallets, infrastructure providers, businesses, and legal or operational frameworks that can preserve useful privacy while functioning in the real world.

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@Anzus_GemWallet

Telegram is a ‘service’

Swiss banking is an ‘industry’

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Telegram gives privacy to the public

Swiss banking offers privacy to high-net-worth individuals (a small number of capitalists)

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In fact, these two perspectives are the key to comparing Telegram and Swiss banking. Of course, I know well that this is not an attractive explanation for cyberpunks or people who advocate for privacy sovereignty.

But suppose you were born poor, grew your wealth, and one day became a high-net-worth individual. I think with a 99% probability, you will realize that giving the privacy provided by Swiss banks and similar institutions to the public is not normal. You must not misunderstand these words.

The world works like that. We do not live in a utopia.

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Swiss banking adapted without abandoning its core function. Build infrastructure that can coexist with regulation while preserving privacy as the underlying principle. The first step is prolly proving real world utility, not just ideological value.

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@operational-anxiety4

Realistically, the current Zcash is unlikely to take the role that Swiss banking once played.

It simply does not have enough people or capital.

We are not Ethereum or Ripple.

To do something like that, a tech-focused cyberpunk leader alone is not enough.

What is needed is a realist with a deep understanding of technology.

As you said, it is difficult to expect people who are buried in code while focusing only on ideological values to make that happen.

There is one thing that I think is worth trying the most.

But even that, looking at the atmosphere here, I do not feel the need to bring it up.

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I really like your mindset HSBC is another good one you forgot. What has Zcash gave up 2 be operating with no issues from no government or law. Just some to stir the pot