Fun

News Feed - 2023-09-14 10:09:05

Ezra Reguerra10 hours agoHow to strike a balance between blockchain transparency and privacy: Nansen CEONansen CEO Alex Svanevik is confident there will be a protocol in the future that creates a balance between both and is compliant with regulators.616 Total views9 Total sharesListen to article 0:00InterviewJoin us on social networksThe world may be moving in a direction where people are more comfortable having their assets and ownership available for everyone to see, according to Alex Svanevik, CEO of blockchain analytics firm Nansen.


In an interview with Cointelegraph’s Zhiyuan Sun, Svanevik highlighted how a balance between privacy and transparency may be attained in the world of blockchain analytics. According to Svanevik, it’s not possible to entirely get both:“You cannot get 100% transparency and 100% privacy. I think many of us want to have as much transparency as possible on corporate entities, exchanges, protocols, etc. But we expect some degree of privacy at the individual level.”


Because of this, Svanevik believes no one would be willing to place themselves on either of the extremes. He said that being fully private would make people miss out on the transparency expected out of corporate counterparties, while being fully transparent is an uncommon stance, as people generally want some level of privacy. 


There’s a generational aspect to the issue of privacy, argued Svanevik, who believes the younger generation cares less about the privacy elements of crypto. “If you just think about how they use social media — TikTok, Instagram, Snapchat and so on — they tend to be very open in sharing about their lives,” he said.


Meanwhile, people 30 years ago would be “quite shocked” if they saw how people put their whole lives on social media, said Svanevik. As such, he predicts the world may be more comfortable with greater asset transparency in the future.


“So, if you own, NFTs, if you own crypto, you might want to show that off to people. You might actually want to put that on your social media, which is what people are increasingly starting to do,” he explained.


Related:How self-sovereign identity helps users own their data


When it comes to solving the trade-off between privacy and transparency, Svanevik believes that projects have to come up with settings that can go between both spectrums. He said they “probably have to come up with something where in different circumstances, you opt for more privacy, and in other circumstances, you opt for more transparency.”


The Nansen CEO explained that there could also be some regulatory implications when balancing transparency and privacy. Svanevik said regulators might not be comfortable with someone being able to send $500 million in assets in total privacy through protocols like the sanctioned crypto mixer Tornado Cash. However, crypto regulators may be lenient regarding people sending assets worth thousands of dollars.


While he hasn’t seen a protocol that “strikes the right balance” between the two things, the executive believes that in the next few years, someone will come up with one able to do so and also acceptable to regulators.


Magazine:Should we ban ransomware payments? It’s an attractive but dangerous idea# Blockchain# PrivacyAdd reactionAdd reactionRead moreHow to track and report crypto transactions for tax purposesSaudi Arabia looks to blockchain gaming and Web3 to diversify economyHow to identify and protect against routing attacks on the Lightning Network

News Feed

Solana Loses Long-Term Support Level – Analyst Shares Insights
Este artículo también está disponible en español. Solana is trading at its lowest levels since September 2024, with extreme fear and selling pressure dominating the marke
Sub-$10,000 Bitcoin Price Spiral Triggers $150 Million BitMEX Liquidation
In a move that wasn"t entirely unexpected, the Bitcoin price has plunged below $10,000 in a breakdown that started around 1 PM UTC this morning. The quick dump liquidated approximat
Homeowners Offered Crypto-Backed Loans to Finance Home Improvement Projects
Homeowners Offered Crypto-Backed Loans to Finance Home Improvement Projects As buying a home is by itself a serious investment, homeowners often lack the cash to
Crypto’s Dotcom Era Begins as Handshake Launches Decentralized Domains
Crypto’s Dotcom Era Begins as Handshake Launches Decentralized Domains Handshake, one of the more original crypto projects to have spawned during the ICO era, has completed its
State attorneys general argue SEC overstepped in Kraken lawsuit
Savannah Fortis14 hours agoState attorneys general argue SEC overstepped in Kraken lawsuitAttorneys general from numerous states filed a brief that calls out the SEC for its enforcement action against the Kraken crypto e
Galaxy Digital Report Predicts Bitcoin NFT Market Could Reach $4.5 Billion by 2025
Galaxy Digital Report Predicts Bitcoin NFT Market Could Reach $4.5 Billion by 2025 As the number of Bitcoin-based Ordinal inscriptions nears the 300,000 mark, Galaxy Digital’
Spellfire Completes Seed Funding Round – Terranova, x21, Autonomy Capital Among Top Investors Onboard
Spellfire Completes Seed Funding Round - Terranova, x21, Autonomy Capital Among Top Investors Onboard sponsored Spellfire, a legendary card-based NFT game powered by Ethereum and in
Tom Blackstone7 hours agoCircle launches ‘bridged USDC standard’ for deploying to new networksCircle published a new standard that allows developers to launch an unofficial bridged version of USDC that can later beco
Brayden Lindrea3 hours agoIndividual creators will ultimately shape the metaverse: Sandbox foundersAs the firm moves to open up The Sandbox Map, co-founder Sebastian Borget said he believes individual creators and brands
South African Firms Ordered to Cease Crypto Debit Card Scheme in 2 US States
South African Firms Ordered to Cease Crypto Debit Card Scheme in 2 US StatesTwo U.S. states have issued emergency cease and desist orders to South African firms and a South African
Ezra Reguerra14 hours agoCrypto Thanksgiving: Community hails industry milestones, expresses gratitudeA community member compared crypto to a turkey that takes time to cook and expressed gratitude for the opportunity to
Blockchain education initiatives take off amid crypto bull market
Zhiyuan Sun5 hours agoBlockchain education initiatives take off amid crypto bull marketDespite strong demand for crypto-savvy workers, there exists a shortage of highly-experienced employees.545 Total views8 Total shares