When Bitcoin was introduced in 2008 and started to herald the dawn of a new financial age it quickly developed a loyal community and opened up a wide range of opportunities for adventurous minds around the world. New markets and services evolved and many applications where introduced.
Bitcoin was initially recognized as allowing anonymous transactions across the globe and a lot of markets became based on this assumption.
It didn’t take long for people to realize that Bitcoin was not really offering true anonymity and still doesn’t do so up to this very day.
CloakCoin was one of the first digital currency concepts in the crypto market to address this inadequacy and was introduced in 2014 with the aim to enable people to use a coin that would provide total privacy in a world that is more and more encroaching on the freedom of its population stating real and perceived threats to national security as a reason to 'protect' its citizens.
CloakCoin is based on the revolutionary ’Blockchain’ concept but has added some very simple and clever layers of communication and a sophisticated off-blockchain coin mixing system making it impossible for 3rd parties to trace transactions between CloakCoin wallets.
Today CloakCoin is one of the best systems available providing private, secure, decentralized and untraceable digital monetary transactions. It is also one of the most user friendly systems and will allow anybody with a computer or a smartphone to participate in today’s digital markets.
It is not, and has never been the intention of CloakCoin to support illegal markets or activities that are associated with elements acting outside of the law. The sole purpose of CloakCoin is to give its owners the freedom that has been granted to them in many constitutions around the world and is their natural right.