Hard Money Vs. Privacy? Saifedean Ammous Questions Crypto’s Privacy...

“The whole thing is built on a trusted setup, where you have to trust a bunch of people who started the whole thing. I’m not in any mood to get into these kind of stupid games,” Ammous said.

Despite Ammous’s concerns, shielded and unshielded Zcash pools are publicly verifiable on several blockchain explorers.

Zcash co-founder Zooko Wilcox also commented on the thread, highlighting the fact that the Canadian government had managed to track down Bitcoin addresses linked to striking truckers due to the transparent nature of Bitcoin’s blockchain.

Ultimately, Ammous’ academic background remains rooted in the belief that hard money is essential for prosperity and economic growth.

Ammous added that money, by “its nature, is an anti-private technology,” given that any exchange typically leaves breadcrumbs of information, especially in a digital world.

“So it’s very difficult to make money into something that is private and onchain, it’s always going to be difficult. But what people really want is resistance to debasement. That’s the thing that actually has a $300 trillion total addressable market.”

Source: CoinTelegraph