Overview
- Zcash co-founder Eli Ben-Sasson recounts a private exchange in which Michael Saylor argued that adding full privacy to Bitcoin could invite nation-state crackdowns or even efforts to shut the network down.
- Ben-Sasson counters that cryptographic tools can balance confidentiality and oversight, highlighting shielded transactions with selective disclosure features such as viewing keys.
- Privacy advocates responded quickly, arguing that encrypted finance is consistent with how society protects messages and files, and warning that transparent ledgers can expose users to surveillance.
- Institutional signals are building around privacy-focused assets, with VanEck noting rising interest in Zcash and Grayscale filing for a spot ZEC ETF.
- Other networks are moving to meet demand for confidentiality, with Solana introducing confidential transfers and Ripple exploring privacy add-ons for the XRP Ledger, even as regulatory risk remains a central concern.