Privacy news: Binance co-founder CZ echoes Consensus panelists on lack of privacy blocking crypto adoption
Binance co-founder CZ and Consensus panelists agree that the lack of privacy hinders widespread crypto adoption by both individuals and institutions.Summary
Binance co-founder Changpeng "CZ" Zhao stated that the inherent transparency of blockchain, which allows anyone to view transaction details and wallet balances, is a significant barrier to mainstream and institutional crypto adoption. This sentiment was echoed by panelists at CoinDesk Consensus Hong Kong, who identified privacy as crucial for large institutional players considering using public blockchains for activities like issuing commercial paper. Fabio Frontini, CEO of Abraxas Capital Management, emphasized that while transactions should be auditable, they must only be visible to authorized parties. JPMorgan's Emma Lovett noted that institutions require confidence that their entire transaction history won't be exposed by revealing a single address. Thomas Restout of B2C2 agreed, stressing that the high level of certainty needed for multi-trillion dollar operations necessitates better privacy solutions.
(Source：CoinDesk)