NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

The Essential Crossroads of Privacy and Blockchain

NewsBTC
NewsBTC
1 year ago
4 mins read
privacy

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Data breaches occur every passing minute of every passing day. From SIM swap attacks on mobile phones to major data breaches that have exposed the confidential information of millions to hackers, protecting our data and our identity has become a top priority for consumers and businesses alike. A common saying on the internet has become “if you’re not paying for the product, you are the product.”

Just this year alone, some of the largest data breaches have included the likes of Capital One (one of the largest banks in the U.S.), Facebook, mobile game maker Zynga, and popular graphic-design website Canva. Risk-Based Security research firm published a 2019 mid-year report stating that there were over 3,800 publicly disclosed breaches in the first six months of 2019, exposing 4.1 billion records. That’s nearly 23 million records breached any given day.

However, finance and traditional tech aren’t the only ones that have been exposed and exploited. Digital currency exchanges and prominent players in the crypto space have been hacked for hundreds of millions of dollars this year, including the hack of Japanese exchange Coincheck for $534 million worth of NEM tokens and, perhaps the more spotlighted hack on the Bithumb, which saw about $30 million in tokens stolen.

With the global Cyber Security Market valued at $116.5 billion in 2018 and growing at a CAGR (compounded annual growth rate) of 11% through 2021, there is no sign of the industry slowing down as more sophisticated hacks continue to threaten everything that touches the internet.

Privacy protection is endangered and blockchain can very well be the answer to not only limiting the decline of privacy but also serving as a formidable force of protecting it. Different blockchain protocols allow varying degrees of anonymity, confidentiality, and privacy. Although there are different types of blockchains, even a public, decentralized blockchain can enable anonymity and trust, as demonstrated by multiple blockchain-based applications and high-privacy cryptocurrencies already in use. However, there’s a careful and complex balance in play between privacy, transparency, regulation, and adoption.

Privacy Coins making Headlines

While cryptography can create a secure way of storing and managing data, privacy-focused crypto assets are facing pressure after the Financial Action Task Force (“FATF”) issued new regulations that put privacy coins into question. Out of financial crime concerns, the new global standards that the FATF released this past June requires virtual asset service providers, including crypto exchanges, to pass information about their customer to one another when transferring funds between firms.

The FATF’s non-binding recommendation gives countries 12 months to adopt the new guidelines or face the risk of being put on a blacklist that is considered deadly to foreign investment. Since the new FATF standards were issued, many privacy coins like Zcash, Monero and Dash have started to be de-listed by major exchanges, included the likes of OKEx, Upbit, Poloniex, and Coinbase. Many blockchain proponents have spoken against the new guidelines, stating that the new standards will be essentially criminalizing privacy while being counter to regulatory goals as crypto transactions move off of controlled, visible platforms.

Looking back on history, Eric Hughes, author of the infamous “A Cypherpunk’s Manifesto” in March of 1993, wrote “We must defend our own privacy if we expect to have any. We must come together and create systems which allow anonymous transactions to take place.”

Today, this quote rings true more than ever, and we find the crypto industry in a struggle between privacy protection and considerate regulation that will deter criminals but won’t interfere with meaningful adoption.

The Case for Anonymous Transactions in Smart Contracts

A new generation of blockchain protocols is emerging that allow for privacy protections suitable for any type of transaction without sacrificing regulatory compliance. The possibility of a compliant, privacy-protected blockchain could foster backing from not only regulators but also major business enterprises, which many see as the key for global adoption of blockchain technology. One promising protocol that aims to lead us into the ‘privacy 2.0’ era is Quras.

Quras is the world’s first public blockchain protocol that allows anonymous transactions in a smart contract. By utilizing two leading privacy technologies, ring signatures and zero-knowledge proofs, Quras give its network users options in the way that confidentiality is handled within transactions; either with complete, partial or no anonymity whatsoever. Anonymous transactions on Quras allow only the parties involved to view a particular transaction while utilizing a public blockchain in areas where privacy protection is not required.

Today, all data stored in smart contracts on a public blockchain are viewable by anyone, which is a failure point that is preventing blockchain from being adopted at mass scale. Individuals and companies require privacy and confidentiality to operate and store their data, and services which require private functionalities are not able to run on public protocols.

“Transparency is great, but without that ability to protect your own privacy and own your data, you don’t have the option to choose if you want to stay private or not. Quras has maintained its balance by providing public contracts, respecting open transparency, while giving privacy options. Privacy is a valuable commodity.” said Shigeki Kakutani, CEO of Quras, recently in an interview.

Not only can the merger of privacy technologies and blockchain protect digital identity for consumers, the technology union also carries many benefits for traditional industries, ranging from financial lending and medical data protection to supply chain management and electronic voting. As blockchain transactions expand from largely being conducted by individuals to corporations, we need to make sure that the personal and asset data are protected.

As the privacy fight wages on, everyone can benefit from appropriate regulations that contribute to healthy growth of the greater blockchain and crypto industry.

 

 

Tweet123Share238ShareSend
NewsBTC
NewsBTC

NewsBTC

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Dogecoin

Dogecoin Resistance Walls Ahead: Analyst Flags 3 Key Levels

An analyst has pointed out three key resistance levels for Dogecoin that could be to keep an eye on, based...

Keshav Verma 3 hours ago
xrp price xrpusdt

XRP Price Brewing A Monster Rally? This Patter Might Hold The Key

As the crypto market moves sideways with low volatility on low timeframes, the XRP price trends to the upside. According...

James Halver 6 hours ago
스네이키웨이($AKE), AI 매수·인플루언서 제휴·블록체인 게임 앞세워 프리세일 개시

스네이키웨이($AKE), AI 매수·인플루언서 제휴·블록체인 게임 앞세워 프리세일 개시

전 세계적으로 블록체인 기술과 디지털 자산에 대한 관심이 높아지면서 암호화폐 시장은 지금 이 순간에도 빠르게 진화하고 있다. 실용성 중심이든 밈 기반이든 투자자의 이목을 끌기 위한...

Soyeon Lee 7 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Станут ли 600 000 BTC точкой невозврата?

lisachaikina 12 minutes ago
Bitcoin

Bitcoin Back In ‘Retesting Phase’ After Key Level Reclaim – The Calm Before The Storm?

Rubmar Garcia 2 hours ago

本月最值得關注的5枚迷因幣與預售項目—10倍潛力幣一覽

Mark Mak 3 hours ago

Premium Sponsors

Press Releases

  • EstateX Appoints Former RE/MAX Leader as Web2 CEO After...

    30 minutes ago
  • SWL Miner launches the best free cloud mining for BTC...

    2 hours ago
  • Criptomoneda alternativă în trend față de Dogecoin (DOGE) care poate transforma 3.200 RON în 320.000 RON în 4 luni

    Criptomoneda alternativă în trend față de Dogecoin...

    3 hours ago
  • 3 altcoinuri de urmărit în prima săptămână a lunii iulie 2025

    11 hours ago
  • XRP versus Shiba Inu: Care criptomonedă are șanse mai mari să creeze milionari?

    XRP versus Shiba Inu: Care criptomonedă are șanse mai...

    12 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.