Zcash represents the part of crypto that refuses to be captured Tushar observes that cryptocurrency is moving in two very different directions. “It’s a return to the cypherpunk values that built this industry.” “Those assets are not a decentralized, unseizable, censorship-resistant store of value.” “On the other end of the barbell is the cypherpunk self-sovereignty values. And I think Zcash represents that.” Stablecoins and RWAs can bring enormous amounts of financial activity onchain, but the underlying assets remain centralized by design. They can be frozen, controlled or subject to the issuer’s rules. Zcash represents the other side of the spectrum: self custody, privacy and resistance to censorship. He argues that this matters because the industry may have drifted away from the principles that originally attracted people to crypto. Bitcoin itself has become increasingly institutionalized, with major financial institutions now holding significant exposure. His thesis is that as questions around Bitcoin’s future and quantum risk become more important, the divide between institutional interests and cypherpunk principles could become increasingly visible. That’s where he sees Zcash fitting in. Stablecoins bring finance onchain. Zcash preserves the reason many people wanted crypto in the first place. w/ @tushar_jain