In episode 49 of Cointelegraph’s Hashing It Out podcast, host Elisha Owusu Akyaw and guest Antoni Zolciak, co-founder of Aleph Zero, delve into the complex world of privacy in the Web3 ecosystem, with a particular focus on privacy-centric projects. Zolciak, who is deeply entrenched in the evolution of privacy protocols, highlights the challenges and advancements in maintaining privacy in an increasingly digital age. The episode also spotlights privacy’s philosophical and technical underpinnings and discusses its implications for individuals and institutions.
Zolciak explains how privacy is a right that has lost its significance because people are okay with exchanging their privacy for free services. However, the issue is that most users do not understand how much of their data they are giving up and its implications for them.
The co-founder of Aleph Zero explains that privacy is important in the Web3 space since user experience shapes people’s approach to protecting their data. He explains that most users do not understand privacy in Web3 since the average user may be unable to differentiate between pseudonymous and anonymous transactions. Furthermore, most users do not recognize the split between privacy coins and privacy-enhancing blockchain infrastructure based on technology like zero-knowledge proofs (ZK-proofs).
Zolciak argues that recent events, such as the delisting of Monero (XMR) by major exchanges like Binance, are a side effect of the popularity and growth of the ecosystem and the regulations it has attracted. He adds that there seems to be a general consensus that removing projects like Monero answers the increasing trend of regulatory scrutiny. Zolciak quickly points out that some privacy-centric projects like Zcash (ZEC), “who proactively communicate and work toward ensuring compliance,” remain listed.
On the future of privacy in the blockchain industry, Zolciak believes that it will become a default feature with the advent of ZK-proofs. On the other hand, “killer applications” like privacy-enhanced decentralized finance applications will increase the adoption of privacy in the space.
Listen to the full episode of Hashing It Out on Spotify, Apple Podcasts or TuneIn, and remember to check out Cointelegraph’s growing catalog of Web3 podcasts.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
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