In the 49th episode of Cointelegraph's Hashing It Out podcast, host Elisha Owusu Akyaw and guest Aleph Zero co-founder Antoni Zolciak examine the complex world of the Web3 ecosystem, focusing specifically on privacy-focused projects. Zolciak is deeply involved in the evolution of privacy protocols, highlighting the challenges and advances in protecting privacy in an increasingly digital age. This section also highlights the philosophical and technical foundations of privacy and discusses its effects on individuals and institutions.
Zolciak states that privacy is a right that is becoming less important because people are willing to trade their privacy for free services. However, he notes that many users do not understand how much data they are giving up and the impact it has on them.
The co-founder of Aleph Zero explains that user experience shapes how people approach protecting their data, which is why privacy is important in the Web3 space. He notes that most users do not understand privacy in Web3 because the average user may not be able to distinguish the difference between pseudonymous and anonymous transactions. He also notes that most users are unaware of the distinction between privacy tokens and privacy-enhancing blockchain infrastructure based on technologies such as zero-knowledge proofs (ZK-proofs).
Zolciak argues that events such as the delisting of Monero by major exchanges such as Binance are a side effect of the popularity and growth of the ecosystem and the regulations it brings. He adds that there is general agreement that the removal of projects like Monero responds to a trend of increased regulatory scrutiny. Zolciak points out that some privacy-centered projects remain on the list, such as Zcash, which âproactively communicates and works to ensure compliance.â
As for the future of privacy in the blockchain industry, Zolciak believes it will become a default feature with the emergence of ZK-proofs. On the other hand, he thinks that applications such as privacy-enhanced decentralized finance applications will increase the adoption of privacy in this field.
You can listen to the full episode of Hashing It Out on Spotify, Apple Podcasts or TuneIn. Be sure to check out Cointelegraph's other Web3 podcasts.
