.xychelsea, security consultant nymproject, discusses why the issue of privacy for crypto is rooted in its underlying technology and why regulation is forthcoming. _franvela reports
“There is a chance now, given this discussion, to innovate in a way to ensure that you know where your assets are,” Manning said. She added that it would also mean users would be able to “verify that this is in fact coming from a person who is authenticated, who is valid [and] who has reputation.
“The truth is people have been jumping to the gun on some of the expectations,” Manning said, adding that participants in crypto are only now beginning to understand the technology and the underlying problems it has as it relates to privacy.“Regulation is coming,” she said. “Whether it’s the SEC [Securities and Exchange Commission] or Congress or the European Union, regulation is coming. This is a reality. The crypto space is going to have regulation coming.
However, said Manning, it is necessary that crypto-based platforms have a way of verifying information for users on their own, “outside of the regulatory space,” in an effort to avoid"just replicating what the [Federal Reserve] is or replicating what FTX was.” “There are some fundamental aspects of the technology that are interesting,” she said. She added that the “technical aspects of cryptography and being able to verify information in order to be able to provide for your privacy in the future” are under development.
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