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The Sword of Damocles in the Blockchain Industry: Privacy and Regulation

Summary

In the past few years, the development of the privacy track has gone through about three stages, including the outbreak of privacy coins in 2014–2017, privacy computing in 2017–2020, and the privacy transaction network from 2021 to the present. Dao has never really become the mainstream track for blockchain development.

The article summarizes the development of the blockchain privacy track and the value of privacy. Privacy, as a rigid need, will become more and more important with the development of the blockchain industry. The article divides the privacy track into three categories: privacy coins, privacy platforms and privacy applications. Starting from these three categories, the principles, advantages and disadvantages, and representative projects of various privacy protection technologies are analyzed.

At present, the privacy track is still in the super early stage. With the recent sanction of Tornado Cash, more privacy and regulatory issues have been discussed. This article studies the regulatory attitudes and policies of various countries towards the blockchain industry and the privacy track. Although no bills related to the blockchain privacy track have been promulgated, traditional data privacy protection laws and regulations and anti-money laundering solutions are still very important to the region. The blockchain privacy track applies. In terms of the censorship of privacy protocols, regulated privacy protocols are the consensus of the new privacy protection protocol project and will also become the development direction.

In terms of privacy applications, transaction privacy and on-chain data privacy are the main directions at present, especially in terms of asset protection against MEV and giant whales. In the future, with the development of new application scenarios, such as DID and social networking, and the entry of traditional institutions into the blockchain, there will be a flashpoint in the privacy track.

1. What are we talking about when we talk about privacy?

Privacy in a broad sense is mainly…

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