<center>![20200527_193402_0000.png](https://cdn.steemitimages.com/DQmdfyGbcHEbGxujMyXK86NdCzLoP77FMMumpapdnRaNdbb/20200527_193402_0000.png)</center>



Hello everyone and I hope you are all having a great time 😊. Today, I'll be sharing my post review about Beam and why financial privacy is very important. I hope you are gonna find this helpful and interesting as you read on 😊. 

Over the years, transactions on the cryptocurrency blockchain system usually lacks user privacy and the lack to enable user data information private from public users. This implies that most users have little access or no access to enable keep transaction private which is leading to greater risks and problems for some users. There is actually no doubt that Monero and Z cash (partially) are the only known cryptos built on a blockchain system which enables users privacy in the crypto space.


<center>![images (21).jpeg](https://cdn.steemitimages.com/DQmVCUEBhXhrEVQcnefSoub8S9LH4A3hHPntMCvP5ShjnXX/images%20(21).jpeg)</center>
 

As we are all aware about the drastic increase in technology in our modern world, some group of people are now able to solve the lack of crypto transaction privacy, user privacy and high quality cyber security measures with the help of top notched or highly skillful and experienced developers with the use of blockchain technology to develop Beam. 

**What is Beam?**

<center>![20200528_111015_0000.png](https://cdn.steemitimages.com/DQmTLnmUHSNpzbALWE2AmA3dAVfCQwnfSFpYcob2Ebd6FeT/20200528_111015_0000.png)</center>

As defined on the official website, "Beam is a privacy-centric cryptocurrency based on the Mimblewimble protocol". This simply means beam is more focused on user privacy which enables user transactions to be private and well secured by the system with the use of Mimblewimble protocol. 

Every transactions made on Beam blockchain are private by default and storing the entire transaction history isn't really necessary for blockchain validation. During this process, the blockchain size is automatically reduced which leads to the increase in it's scalability. 

**What is Mimblewimble Protocol ?**

<center>![20200528_111133_0000.png](https://cdn.steemitimages.com/DQmRSPjWkizQPdeikkQKfMivsnz92cqADkwemQNRoFWnTcc/20200528_111133_0000.png)</center>


Mimblewimble protocol was discovered by Tom Elvis Jedusor in 2016 for the main purpose of developing the privacy and scalability of cryptocurrencies. It is solely developed to increase the privacy of user's information with the blockchain system. 

Mimblewimble has blocks which are made up of three lists called the input list , the output list and the excess list. The input list is used to reference the old outputs, the  output list is where confidential or private transaction outputs are stored while the excess list contains the signatures and the difference between the outputs and inputs. 

This implies that Beam will surely enable higher user privacy and increase security measures during transactions with the use of Mimblewimble protocol. 

**Why Is Financial Privacy Important ?**

<center>![20200527_175750_0000.png](https://cdn.steemitimages.com/DQmX7yJoJrV5oDFoskKoMk489MmbwNTR2wucEb6XeKKiPoh/20200527_175750_0000.png)</center>


As we all know the type of world we are today in which you actually can't predict people's thoughts or mindset about you most especially when they see you progressing in your business. I see no reason why I shouldn't keep my transaction activities private since you can't really predict the level of harm or danger people can do to you most especially when it comes to heavy transactions. 

The lack of financial privacy has also been one of the major causes of business owners or users loosing their fund to hackers and fraudsters. The fact is that we now live in a cruel world where most people don't really want to see you or your business progressing and they will always find a means to steal your fund or pull you down due to their level of envy, hatred or jealousy.

Will you love it when your business expenses and income are easily detected by your competitors? I'm quite sure no one will want this to happen and this is actually one of the reasons financial privacy is very important.

***In a nut shell, financial privacy will not only allow you to transact confidentiality or privately with your clients, it will also enable you and your business to be free from any form of malicious operations or dangers from hackers, fraudsters or thieves which prevent you from loosing your funds forcefully since no one is aware of your transaction except your client***.

**A Use Case**

<center>![20200528_112229_0000.png](https://cdn.steemitimages.com/DQmVpX7CqNVA3LGpE1TcdgdWytjDtKxDUMndQk5qWdeEPjL/20200528_112229_0000.png)</center>


As a business man, suppose I intend to transact with one of our customers who isn't able to make some cash transfer to my company's account, then we can both transact privately using Beam. 

All I need to do is to transfer my beam wallet address to the user and he actually can easily transfer the actual worth of money by buying Beam cryptocurrency directly from top exchanges like binance. After this is done, he will will request for my Beam wallet address and he makes the transfer easily and conveniently without any third party knowing about our transaction. This will also protect my company funds from being hacked since the transaction was private with the help of Beam.

**More Information About Beam**

<center>![20200528_112039_0000.png](https://cdn.steemitimages.com/DQmVkChreXJjNfYdMPt8R1xFQakez6ZfebuCUye7qepW3yt/20200528_112039_0000.png)</center>


If you'll need to know more more about beam, I'll suggest you visit beam official website and their social media platforms for more enquiry about beam with the links posted below ;

https://beam.mw

https://www.uptrennd.com/user/MTA3OTA5

https://twitter.com/beam_africa

https://medium.com/beam-africa

https://t.me/BeamAfrica







Also you can join beam writing contest on uptrennd via the below link;

https://www.uptrennd.com/post-detail/beam-x-uptrennd-150-beam-writing-contest~NDA2MDc3

<h3>***Thanks for your time and I hope you all have a great day ahead with love from @hardaeborla***</h3>
 💖❤️💕💖💕❤️💖


<center>![images (20).jpeg](https://cdn.steemitimages.com/DQmWSYL8xPsK8whTSknnWKNfVneBGVsGKmAfRfqtDKaj6Wo/images%20(20).jpeg)</center>


My Beam Wallet Address : 319965ee65b4e643719621296e4c2681f2915d111f8efdd5f0f06ff702d1b4d25ba