Frequently Asked Questions

Last Update: May 22nd, 2020

What is Public Mint?
Why use Public Mint?
How to use Public Mint?
Public Mint for business
Fees
Building on Public Mint
Technical details
Multi-Custodial Structure
Compliance and Regulation
Privacy and Security
Currencies

What is Public Mint?

• What is Public Mint?
  • Public Mint is a multi-layer ecosystem for Fiat money to flow freely and instantly, with no borders or friction.
  • Public Mint’s Open platform enables any currency to be easily brought into the blockchain, and offers a rich platform for business and innovation to thrive.
• What is the Public Mint Open Platform?
  • Open Platform is the name for Public Mint’s multi-layer ecosystem, comprising the technical, custodial, regulatory, and services infrastructures for Fiat money to be transacted on the blockchain.
• Is Public Mint a payment solution? 
  • Strictly speaking, no. That said, the Public Mint Open Platform enables cheap and fast peer-to-peer payment solutions, amongst countless other business models.
• Is Public Mint a stablecoin? What is the difference?
  • No. Public Mint is a full-fledged ecosystem where Fiat currencies can be deployed.
  • Unlike most other stablecoins, Public Mint runs its own Fiat-dedicated network. You don’t need to go through complex exchanges or be exposed to other volatile crypto assets in order to transact.
• What is a Public Mint account and why do I need one?
  • You need to create a Public Mint account to be able to deposit and withdraw funds from the network. You can also use the account to check your balances and transaction history.
• When Public Mint launched?
  • The Public Mint network has gone through a thorough process of research and development (including finding the most appropriate approach according to Legislation and Regulation) over the course of two years and was launched on July 1st 2020.
• What is the role of Public Mint in the ecosystem?
  • Public Mint is responsible for governance of the Open Platform, ensuring compliance with regulations, managing partner keys, maintaining the protocol, and building the initial network infrastructure.
  • For end users, Public Mint also offers a wallet implementation and an interface to the blockchain.
  • Public Mint is initially running all the validator nodes, across multiple geographies to ensure resilience. In the near future, Public Mint aims to open this structure to other parties, creating a richer and more diverse ecosystem.
• How is Fiat brought into the blockchain?
  • When our custodial partners confirm a deposit was made, they immediately send instructions to Public Mint, who automatically creates a digital representation of the funds in the depositor’s wallet address.
• How is Fiat sent out of the blockchain?
  • Any address that holds Fiat can initiate a withdrawal to their own bank account. If the address owner hasn’t previously gone through KYC, they will need to do so at the moment of the withdrawal.
  • If the address owner has already been through KYC, then instructions are automatically sent to our custodian partner, who will sign the withdrawal transaction with their keys and proceed to transfer funds to the designated bank account.
  • After the transaction is signed and the custodial account is updated, the corresponding on-chain digital representation of the Fiat funds is automatically destroyed.
• What is tokenised Fiat?
  • Tokenised Fiat is simply Fiat money represented on the blockchain. It’s pegged 1:1 to the underlying currency and 100% backed by Fiat deposits which are securely stored in the custodial structure, fully FDIC Insured.
• Is there a maximum supply of tokens?
  • In short, no. At any given moment, the total amount of Fiat circulating on the Public Mint network is equivalent to the corresponding Fiat deposits in custody. The only hard cap is the total amount of Fiat in the world.
• How does Public Mint ensure the stability of tokens?
  • Fiat on chain is as stable as the underlying currency. This is achieved by ensuring absolute parity between circulating and deposited funds, and guaranteed redemption via banking partners. Public Mint ensures 100% of collateral is kept in the custodial structure by having periodic audits conducted by independent third parties. Anyone can withdraw Fiat from the blockchain into their bank accounts with a simple wire transfer.
• How is Public Mint the “Salesforce for money”?
  • Salesforce offers a rich, programmable ecosystem for the exchange and processing of data, on top of which entrepreneurs can build business processes and solutions. Public Mint offers a similar platform, but for Fiat money - and completely open to anyone, anywhere, at any time. Public Mint makes Fiat money programmable.

Why use Public Mint?

• Why use Public Mint instead of PayPal or bank transfers?
  • Unlike PayPal or a Bank, Public Mint enables transactions directly from peer to peer on the blockchain. This gives you full control of your own money, meaning you can transact with anyone, anytime.
• Why is Public Mint interesting for banks and bank customers?
  • Custodians and banking partners can collect interest on their excess liquidity from overnight loans while keeping Public Mint’s funds locked to comply with reserve requirements.
  • Bank customers get full control over their funds. Anyone can transact globally and instantly, with no business hours restrictions, or costly and unpredictable transaction fees.
• Why not simply use another stablecoin like Tether, USDC, or TUSD for Fiat payments?
  • Most stablecoins run on top of other general-purpose blockchains such as Ethereum. This involves Exchanges, a cumbersome and costly process, and also requires exposure to volatile crypto assets. Public Mint is not a stablecoin and does away with both intermediaries and risk.
• How is Public Mint different from Ripple?
  • When it comes to tokens, Ripple’s XRP is a volatile crypto asset, while Fiat running on Public Mint is as stable as the underlying currency. The asset’s volatility prevents it from being used as a currency.
  • As a platform, Public Mint is not positioned to become a settlement system between banks, replicating the same old siloed financial structure, where banks are gatekeepers between individuals/companies and their money. Instead, the Public Mint network gives full control of funds to the end user, removing banking friction from transactions.

How to use Public Mint?

• Who can use the Public Mint network?
  • Anyone. Businesses, individuals, banks, entrepreneurs, devices or applications are free to use Public Mint. (take as an example smart contracts or DAOs).
• What do I need to start using Public Mint?
  • If you are a developer, in order to transact on-chain, all you need is to create an account address on Public Mint’s network. More information on the developer’s portal here.
  • If you are a regular user, in order to deposit or withdraw Fiat you just need to create a wallet on Public Mint, and go through the proper KYC/AML process to start using your account address.
• How do I create an account address with Public Mint? Why do I need one?
  • You can create an account address by following the steps on our website. You need an account address in order to deposit and withdraw funds from the network. You can also use your account address to check your balances and transaction history.
• Do I need a Public Mint wallet?
  • You can access your Public Mint address through our APIs or you can use the Public Mint wallet that provides you with an easy-to-use User interface.
• Can I use any Ethereum wallet?
  • Coming soon. Any Ethereum-compatible wallet will be able to be used on the Public Mint network, as long as you have control of the private keys.
• Do I need to create an account address with Public Mint?
  • Yes. You are only required to create a Public Mint wallet if you want to deposit or withdraw funds, but you can still transact on-chain using your account address even without a wallet (you can do it programatically). Creating an account address is free, and you can do it whenever you wish.
• Using my Google Account
  • You can use your Google Account to authenticate with Public Mint and to securely store your wallet. Connecting your Google Account with Public Mint is easy and you just need to follow the steps presented on our website. To store your wallet on your Google Account make sure you allow Public Mint to have read and write permissions to Google Drive. Your recovery wallet will be stored under the folder .publicmint. Do not delete this folder or its contents - doing so will remove the possibility of recovering your wallet.
• How do I make a Fiat deposit on Public Mint?
  • Making a deposit and getting Fiat sent to your wallet is simple. Just create an account on Public Mint, go through the KYC process, and follow the instructions provided to transfer the funds to our banking partner. And that’s it - after confirmation, funds will be automatically sent to your wallet.
• How long does it take for Fiat to be available on my wallet after I deposit?
  • When doing a deposit, the time needed for the funds to be made available depends on the method selected that is provided by the Banking and payment infrastructure. The table below gives an overview of usual time it takes, per method. 
    • US ACH Bank transfer - Estimated time until settlement: 10 - 15 business days
    • US Wire Bank transfer - Estimated time until settlement: 3 - 5 business days
    • Non-US Wire Bank transfer - Estimated time until settlement: 3 - 5 business days
    • Credit Card (coming soon) - Estimated time until settlement: 1 business day
    • Stablecoins (coming soon) - Estimated time until settlement: Immediate
• How long does it take for the money to be credited to my bank account after I initiate a withdrawal from Public Mint?
  • When doing a withdrawal, the time needed for the funds to be made available depends on the method selected that is provided by the Banking and payment infrastructure. The table below gives an overview of the average time it takes, per method.
    • US ACH Bank transfer - Estimated time until settlement: 1 - 2 business days
    • US Wire Bank transfer - Estimated time until settlement: 3 - 5 business days
    • Non-US Wire Bank transfer - Estimated time until settlement: 3 - 5 business days
• How do I transact within the Public Mint network?
  • Transacting in the Public Mint network is simple. All you need is the receiving address and the click of a button. No need to understand all the nitty-gritty details.
• Who can I send Fiat to?
  • You can send Fiat to anyone, anywhere, at any time, so long as the recipient has a Public Mint address or an Ethereum-compatible address (coming soon).
  • Public Mint is for everyone, not only for the tech-savvy. We provide a simple onboarding experience that makes it easy even for people with no previous experience with blockchain technology to join.
• Where can I spend my Fiat in the Public Mint ecosystem?
  • Companies can pay their suppliers or accept payments from customers on Public Mint. Alternatively, anyone can use Fiat on Smart Services built on top of the network (e.g: Earn)
• What are Smart Services?
  • Smart Services are on-chain smart contracts supported by off-chain centralised services that solve real-world issues such as instant forex, physical escrow or off-chain notifications.
  • Anyone can build Smart Services on top of Public Mint.
• What services can I access within the network?
  • Our initial focus is to enable B2B solutions. That said, we have a Forex marketplace in our roadmap, and the network is open for anyone to build whichever services they can think of, existing or not. The sky’s the limit.

Public Mint for business

• How can crypto-native companies benefit from Public Mint integration?
  • Crypto-businesses can integrate with Public Mint to offer Fiat as payment for services done by workers in their networks (such as miners, validators, or any other roles), removing uncertainty while incentivising participation. This also frees native utility tokens from the burden of speculation, enabling a healthier growth and unleashing true utility.
• How can Public Mint help traditional companies enter the crypto space?
  • Public Mint removes the complexity and uncertainty of going through an exchange, allowing traditional companies to easily access all the benefits of the blockchain (programmable money and instant settlement). It only takes a bank transfer to cash in or out of Public Mint’s Open Platform.
• What is the difference between on- and off-chain transactions, and why does it matter?
  • On-chain transactions take place in the blockchain. By its nature, it’s irreversible, near-instant, and can be executed at any time, to anyone. There is no need for authorisation or intermediaries. Once validated and entered into the ledger, on-chain transactions are pretty much irrevocable and can’t be “lost” or removed. On-chain transactions on Public Mint have transparent, low fees.
  • Off-chain transactions happen through traditional banking settlement layers. Funds are transferred across banks and may take days or in some cases even weeks to clear. Such transfers can usually be arbitrarily declined or even reversed with no clear reason, and funds in transit can be misplaced or even lost. On top of that, fees charged are usually unpredictable and can be quite steep.
• Why is immediate settlement using blockchain technology so important?
  • As the global economy gets increasingly more interconnected and financial instruments get more complex, settlement time can mean the difference between profit and loss. The current banking system is ill-equipped to guarantee settlement time on most transactions. Moreover, transaction reversibility adds uncertainty to the mix (take for example the dynamics between high-frequency trading and private exchanges).
  • In the Public Mint network, transactions are irrevocable and immediately settled after one block confirmation, ensuring predictability. This enables high-throughput, time-sensitive business models operating at low margins, and with much more precision than via banking systems.
• What are the benefits of having programmable Fiat money and payments? What problems is Public Mint solving?
  • Much like on Salesforce, entrepreneurs can replicate all kinds of business processes and solutions over the platform, or create entirely new ones in a free, open and sophisticated approach, leapfrogging the challenges of integrating with legacy banking and payment infrastructures.
  • Friction-free, programmable Fiat has several immediate use cases that can greatly increase the efficiency of existing business models. However, porting existing solutions is only scratching the surface. Similar to how Salesforce enabled completely new models for data handling, Public Mint is serving as a cornerstone for financial innovation.
• What are the use cases?
  • The possibilities are endless - Here are some examples, some of them already running on Public Mint or in process of being deployed in the near future, by our Partners:
    • Immediate fiat settled payouts,
    • Fiat rails with easy onboarding and off boarding of funds,
    • Automatic on-chain trade /instant foreign exchange,
    • Identity with pre-enabled fiat payment accounts,
    • Non-fungible token fiat marketplace,
    • DeFI applications (Lending and Investing),
    • Supply Chain Finance,
    • Automated confirming and accounting;
    • Predictable payroll,
    • Machine2Machine payments,
    • Correspondent banking account reconciliation.
    • Fiat-based Decentralised Autonomous Organizations (DAOs) with a rail to the traditional economy;
    • and any other process can be automated under programming logic, just like data.
      For additional information please check Public Mint’s Terms and conditions available here (in particular the Prohibited Uses section).
• What kind of Smart Services can be built using Public Mint?
  • Smart Services are typically developed by Public Mint or by the community of developers.
  • Here are only a few examples of Smart Services that support the use cases. Some of these Smart Services are already deployed on Public Mint or in process of being deployed in the near future.
    • Earn Program (Litepaper: https://docs.google.com/document/d/1kSFdnH1-UTY_NW3RQqPa0NvHDlAMZ2sITLOqJLMBZ_Y/edit?usp=sharing)
    • Programmable payment automation,
    • Digital fiat wallets,
    • Push2Trade,
    • Withdraw-as-a-token,
    • Tipping mechanisms,
    • Goal Savings fiat accounts,
    • RoundUp payment mechanisms,
    • Escrow fiat services,
    • Dividends/revenue share payments;
    • Oracles / conditional payments,
    • Name registry.
    • For additional information please check Public Mint’s Terms and conditions available here (in particular the Prohibited Uses section).
• How can third-party Smart Services providers (e.g. community of developers) profit on Public Mint?
  • Each provider defines their own business model and fee schedule, collecting revenue from operating on the blockchain much like they would over the web.
• What business processes does Public Mint enable that stablecoins don’t?
  • Running solely on Fiat and over a fast, dedicated blockchain enables business processes that most stablecoins would be hard-pressed to emulate with the same precision - be it due to fluctuating fees, network congestion, or both.
  • As an example, Public Mint is particularly suited to high-velocity, time-sensitive trading relying on tight margins, like arbitration. Public Mint’s predictability also enables more granular micropayments of dividends, loans, or network rewards - especially useful in distributed computing, solar energy, 5G, IOT, sharing economy, and likely many new models yet to be developed.
• What kind/sector of business do you expect to partner/join Public Mint?
  • We are confident that all kinds of business will realize the benefits of using Public Mint. In particular, we expect the financial sector to be amongst the early adopters, as Public Mint offers clear financial use cases from the start.
  • Every sector of the global productive chain needs to deal with money. Public Mint brings Fiat to the blockchain, upgrading money for the internet age and making it more useful and attractive for everyone.
• Does Public Mint already have traditional corporate partners?
  • Much like with Salesforce, entrepreneurs and cutting-edge technology companies are the early adopters.
  • We’re also in the process of establishing several partnerships with key established companies and industry leaders but unfortunately, we can’t disclose any names yet.

Fees

• Do I need to buy other tokens to pay fees in Public Mint?
  • No. All fees in the Public Mint network are paid in Fiat.
• What fees does Public Mint charge?
  • We charge fees for on-chain transactions and withdrawals from the network. For more info, click here
• How are fees set?
  • Fees are transparent and set based on operational costs. For more info, click here
• Are fees flat or a percent of the amount?
  • Fees are a combination of a flat minimum rate and a small percentage of the amount transacted. For more info, click here
• Do fees fluctuate or change? How often?
  • We may review our fee schedule from time to time to balance operational costs. Any changes will be announced in advance.

Building on Public Mint

• Can anyone build on top of Public Mint?
  • Yes. Anyone is free to build anything on the Public Mint network, much like in other open blockchains like Ethereum. This includes smart contracts on the Smart Services Layer, or full-fledged dApps and API integration on the Applications Layer, to support any kind of business model, for-profit or not.
• What stack do I need to interact with the protocol?
  • Public Mint is based on Ethereum, and thus shares most of the same tools familiar to Ethereum developers. You can, for example, write smart contracts using Solidity, integrate web interfaces using web3.js, and query network nodes using Pantheon’s familiar APIs.
• What do I need to build a service on the network?
  • Basically, all you need to start building a Smart Service on the network is a computer with an internet connection. You don’t need permission or authorisation from Public Mint or anyone else. Plus, self-custody of funds and peer-to-peer payments mean you can monetize from day one: no more middlemen between you and your customers.
• What kind of service can I build?
  • Anything you want according. You can replicate, optimize, or automate existing traditional services on the blockchain, and you can come up with completely new solutions as long as it does not infringe Public Mint’s Terms and conditions available here (please check the Prohibited Uses section). You can define your own fee model or offer solutions for free, if you want. Be creative and build away; the sky’s the limit.

Technical details

• Does Public Mint run on Ethereum?
  • Not exactly. Public Mint runs on its own blockchain, which is a custom enterprise-grade implementation based on Ethereum developed by Pegasys. Public Mint has its own consensus algorithm and validation mechanism, independent from Ethereum. However, the two networks remain compatible, making interoperability possible in the future. Additional related information can also be found at Pegasys and at Hyperledger Besu website.
• What is a Fiat-native blockchain, and why not just use Ethereum or EOS?
  • Fiat-native blockchain means that Fiat is all that’s needed to transact in the network. All fees are paid in Fiat, and there’s no native token to pay for Gas costs (like in Ethereum).
  • By running a Fiat-native network instead of using an existing general-purpose blockchain (like EOS or Ethereum), Public Mint users bypass the added cost and complexity of having to go through an exchange and avoid exposure to their volatile native assets.
• What is Pantheon and what are the benefits of using it?
  • Public Mint nodes run an implementation of Pantheon, an open-source Ethereum client with enterprise-grade features. Benefits include compatibility, granular permissions, and stable consensus, which enables fast and reliable transactions.
• Are there miners in Public Mint? Who can add blocks to the blockchain?
  • There are no Bitcoin- or Ethereum-like miners on Public Mint, as its consensus protocol is not based on Proof-of-Work.
  • Public Mint uses the IBFT 2.0 Proof-of-Authority protocol, which is Byzantine fault tolerant and completely forkless. IBFT 2.0 allows for immediate transaction finality and a much higher throughput than Ethereum’s PoW.
  • Transactions are added to the blockchain (“mined”) by validator nodes, who collect transaction fees for their work. All validators are known to the network and can be held accountable in case of misconduct.
• Can transactions be reversed on Public Mint? How about block reorgs?
  • Transactions in Public Mint are irreversible so long as two-thirds of validators remain honest. Since nodes are known and accountable on Public Mint, reversals and block reorganisations are extremely unlikely.
  • Public Mint’s IBFT 2.0 consensus protocol prevents the possibility of forks in the network.
• What does instant finality mean, and how does it compare with Ethereum or bitcoin?
  • Bitcoin and Ethereum’s Proof-of-Work consensus protocols are designed to tolerate temporary chain splits when blocks are found simultaneously by two or more miners. When this happens, miners work on different versions of the chain until one of them takes the lead, becoming the longest chain. When this happens, transactions in the competing chain are discarded and the ones which hadn’t been added to the winning side are “reversed” and sent back to the queue. Splits rarely last for more than one or two blocks, and that’s why it’s recommended to wait for a number of confirmations before considering transactions final in these networks.; the more confirmed blocks, the smaller the probability of splits and reorgs, eventually tending to zero. That’s what’s called eventual (or probabilistic) finality
  • Public Mint’s immediate finality means transactions are irreversible after a single confirmation. The network’s IBFT 2.0 consensus means forks, chain splits and block reorgs are impossible. As a consequence, Public Mint has a much higher throughput and guarantees settlement much faster than PoW-based blockchains like Bitcoin and Ethereum.
• Who can validate/verify transactions? How?
  • Validator nodes are initially being run by Public Mint, spread across multiple geographies to ensure resilience and jurisdiction-agnosticism. Validator nodes take turns in creating and adding blocks to the blockchain, and other nodes independently verify the validity of new blocks before propagating them to the whole network. In the near future, Public Mint aims to open this structure to other parties, creating a richer and more diverse ecosystem.
• Why is Public Mint faster than most stablecoins?
  • The vast majority of stablecoins run on top of Proof-of-Work blockchains (mostly Ethereum or Bitcoin). Transactions on Public Mint are faster because they run on a dedicated network optimised for Fiat, The key advantages of this approach for transaction speed are:
    • Immediate vs. eventual finality: PoW networks take multiple confirmations before a transaction can be probabilistically final. Public Mint only requires one.
    • Substantially higher throughput: stablecoins based on general-purpose chains like Ethereum compete with countless other transactions, financial or otherwise. Throughput is limited by block time, size, and difficulty. Public Mint’s consensus protocol enables much higher throughput with no risk of splits.
• How decentralised is Public Mint?
  • Decentralisation is a spectrum. Public Mint recognises that by their very nature, parts of our Fiat-based economy will always be subject to regulation by authorities, while other aspects can be greatly improved from being less centralised. This is how our world works, and this is the world we work on.
  • Public Mint aims to further decentralize the ecosystem. Using and building on the platform is open to anyone. Plus, our roadmap includes an open and inclusive multi-custodial structure, as well as allowing new validator nodes to join in securing the network.
• How many validators are there?
  • Public Mint is running a limited number of validator nodes spread across different geographies. Having nodes spread across geographies protects the network from potential regulatory swings or localised natural disasters, maintaining availability at all times.
• Who runs the validator nodes?
  • All validator nodes are currently run by Public Mint. In the future, we will open up to third parties.

Multi-Custodial Structure

• Who keeps custody of Fiat deposits?
  • We have a licensed and FDIC-insured custodial partner. This structure will evolve into a multi-custodial, multi-jurisdiction network of banks and likewise regulated financial services providers.
  • We’re already working on expanding our network to increase the resilience and flexibility of the ecosystem.
• What is a multi-custodial structure, and what benefits does it offer?
  • Multi-custodial structure is how we refer to our network of banking partners that interface between Fiat money and the blockchain. Instead of relying on a single bank, Public Mint is building a network of custodial partners spread across different jurisdictions and currencies. This has three main advantages:
    • It makes the system more resilient by avoiding a single point of failure. Should one bank interrupt services (be it due to technical problems or whatever other reason), Public Mint maintains business as usual.
    • Partners in multiple geographies widen the window of time in which Fiat deposits and withdrawals can be made, as they may operate in different time zones.
    • Finally, having custodians in multiple jurisdictions enables on- and off-ramps for several currencies to be easily integrated in the network, and protects users’ funds from sudden political or regulatory swings in any particular country.
  • The multi-custodial structure is a consortium of banks and regulated custodial entities that offer real transparency and live auditing, and a connection to legacy and banking rails. This is fundamental in enabling the stable chain that allows any blockchain, asset or token to gain fiat-connectivity.
• What are the key features provided by Public Mint’s Partners at the Custodial Structure level?
  • Public Mint has a very thorough process to select the key partners that are part of the Custodial Layer. These partners (Banks and Trust Companies) need to fullfill the following requirements:
    • State-chartered trust companies, authorised to conduct business in all US states.
    • Fully audited SEC Qualified custodians.
    • Provide compliance and custody of assets.
    • Provide 100% FDIC-insured over the funds under their custody.
    • Provide AML and KYC compliance both on cash in and cash out.
    • Provide identity verification (CIP) and perform source-of-funds validation (optional)
• How can I be sure that the amount of Fiat on the blockchain fully matches deposits in custody?
  • Public Mint conducts periodic audits through an independent, reputable auditing company.

Compliance and Regulation

• Where is Public Mint registered?
  • Public Mint is a registered Delaware C Corp.
• Is Public Mint regulated?
  • Public Mint is a registered FinCEN BSA Money Services Business, and likewise regulated by competent US authorities.
  • Public Mint also implemented a risk based model in its BSA AML/OFAC Program to address higher risk customer types and products. This includes enhanced Due diligence requirements.
• Do I have to undergo KYC in order to use Public Mint?
  • You only need to go through KYC if you decide to move Fiat (either depositing or withdrawing) into or out of Public Mint’s Open Platform.
  • Transacting with Fiat on the platform does not require KYC, nor any kind of permission.
• What is the estimated time for my identity verification process to be concluded?
  • An identity verification process usually takes a couple of minutes for US citizens, if all the information is correct, including the identity documentation to upload. For non-US citizens it should take 2 - 3 business days, again, if all information is correct, including the identity documentation to upload.

Privacy and Security

• How private are Public Mint transactions? Can anyone see all my spending?
  • The short answer is, it depends. Like most blockchains (and certainly Ethereum-based ones), all transactions are permanently recorded into the blockchain, public and visible to anyone - as well as any data sent to smart contract storages.
  • However, even though the amount transacted is public and can’t be omitted, the only identifiers are the Ethereum addresses of each part. These are long, pseudo-anonymous strings of characters not publicly tied to an identity in the real world.
  • Addresses are reasonably anonymous until you associate it with your identity - say, by buying a product or service that requires you to input your personal data such as home address, or by going through KYC to deposit or withdraw Fiat from the network. In this case, the recipient will be able to associate your identity with your Ethereum address, and hence able to access your past and future transactions.
  • Public Mint’s KYC partner works under a strict privacy policy and all personal data handling happens off-chain for ultimate privacy. However, when using other services or buying products, you should make sure that you trust the recipient to protect your personal data, and never send any identifiable personal data into smart contracts without encryption.
  • We’re working on an implementation of zk-SNARKs (zero-knowledge proof) technology, which will allow for private transactions. In a nutshell, zk-SNARKs allow transactions without revealing the sender, recipient, and amount transacted, greatly enhancing privacy.

Currencies

• Which Fiat currencies are deployed on Public Mint?
  • Public Mint supports USD.
  • Euros (EUR) and British Pounds (GBP) are coming soon.
• When will other currencies be deployed?
  • After EUR and GBP, other currencies will follow according to demand and regulatory clearance from competent jurisdictions.
  • Stay tuned for announcements.