News By  Lesia Dubenko
Normal 2311 6 Jun 2022

U.S. Whistleblower Backs the Nym Privacy Coin

By  Lesia Dubenko 2311 6 Jun 2022
Photo - U.S. Whistleblower Backs the Nym Privacy Coin

Chelsea Manning, a famous American whistleblower previously known as Bradley Manning, is becoming an influential figure in the crypto domain.

The former intelligence analyst, charged under the Espionage Act for passing sensitive data to WikiLeaks in 2013, is backing a computer platform called Nym Technologies. Its goal is to prevent governments and corporations from tracking people’s online activity similar to other privacy coins like Monero and Zcash. 

Having joined the Nym project as a security analyst in 2021, Manning looks to ensure that individuals can enjoy privacy. The company is funded by a host of wealthy investors and donors, including the European Commission, which has granted at least €450,000 to it.

However, Manning, being a not-so-big fan of cryptocurrencies, is trying to avoid calling the token a cryptocurrency. 

This is not a Web-3, scammy application or something like that. I really do view Nym as being a part of what, in three to five years from now, will be a renaissance in the post-cryptocurrency blockchain space. I don’t think anyone will be making huge amounts of money off this. I don’t see people running nodes in order for them to become nouveau riche millionaires living in L.A.

The whistleblower said.

Manning has always described herself as a crypto skeptic, referring to the dark sides of crypto like scams and speculation. Together with Nym’s chief Harry Halpin, she is determined to stay away from the latest crypto winter and the serious repercussions it caused for many investors. 

Nym’s principal goal is to create a confidential space for encrypting people’s data to protect it from being monitored, tracked, or tampered with. Designed for both ordinary citizens and smaller states that wish to “escape some form of cyber colonialism by the United States, or by Russia or China”, it has struck a chord with a substantial number of people put off by the notorious U.S. whistleblower Edward Snowden’s revelations and the Cambridge Analytica scandal. 

“As a trans person, I care enormously about privacy. As an activist, I care enormously about privacy,” said Manning, who came out as transgender in 2013. “As somebody who's been to prison, I understand the significance of the consequences of having your privacy violated.”

Nym token’s success relies on a decentralized group of computer engineers worldwide. They help the system break down data from programs and apps available on its platform into small identical encrypted digital packets, which are then mixed. The deposit for setting up a node within the network is 100 Nym tokens. The platform also offers to invest Nym into high-performing nodes and get returns until they have reached the cap, a system that prevents a small group of nodes from becoming too big or wealthy. 

The coin is trading at $0.40 press-time.