🔥

🔥🔥🔥 ‘Garbled Circuits’ Enable Transactional Confidentiality, Encourage Enterprise #Web3 Adoption — #COTI Co-Founder

Shahaf Bar-Geffen, CEO of COTI, underscores that while privacy is crucial for mainstream adoption, enterprises remain cautious due to concerns about misuse.

Regulatory Perception and Adoption Challenges:

- Regulatory scrutiny, exemplified by Tornado Cash, impacts enterprise willingness to embrace privacy solutions.

Overcoming Regulatory Challenges:

- Web3 players can address concerns by implementing confidentiality measures akin to traditional banking systems, using cryptographic techniques like garbled circuits.

Impact of #Ethereum Dencun Upgrade:

- Ethereum's upgrade reduces fees and boosts efficiency, benefiting #Layer2 solutions.

Obstacles to Compliance in Web3:

- #Blockchain transparency poses compliance hurdles, but innovations like garbled circuits offer solutions.

Innovative Solutions for Confidentiality:

- Techniques like zero-knowledge rollups and Trusted Execution Environments enhance privacy without sacrificing security.

New Use Cases Enabled by Confidentiality:

- Blockchain confidentiality enables applications like sensitive data management and decentralized identity verification.

Enterprise Adoption and Privacy Concerns:

- Enterprises prioritize confidentiality over anonymity due to associated risks, emphasizing the need for regulatory alignment with traditional finance.

In conclusion, Bar-Geffen urges regulatory frameworks to balance privacy and compliance for Web3 adoption.

Source - news.bitcoin.com