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Cryptocurrency users and developers are very much aware of the importance of privacy. For many, it's the primary concern.
by keypusher 8y ago
Cryptocurrency users and developers are very much aware of the importance of privacy. For many, it's the primary concern.
- lykr0n 8y agoYes, but there are two facts that will short circuit privacy. 1. By the very nature, blockchain is public. If the wallet can verify a transaction goes from one user to another, it's not private. You can obscure all you want, but you from the way I understand it, if the system can verify itself then nothing is private. 2. Blockchains are centralized in that there is once source of information. Our current payments system is more decentralized in that Bank #1 -> Mastercard -> Stripe -> Bank #2 -> Bank #3. There are multiple parties that need to work together, and theoretically have different information collection requirements. If you need to trace money from Bank #1 to Bank #3, in theory you need multiple warrants. Privacy requires some form of black box and trust in that black box. I'm not sure how you can remove that black box without reducing the privacy.