$136.65 -1.98%
ETH · 31w

All platforms currently provide a form of privacy that depends on trust. Privacy on the blockchain is an entirely new paradigm in platform privacy: it's trustless privacy

In a traditional web platform, the platform provider hides private data from the public, to maintain user privacy, and the public trusts that the data it sees has been faithfully validated and conveyed by the platform. It's entirely trust dependent. For example, we trust that the reviews seen for sellers on eBay are authentic reviews, because we trust that eBay has a validation process to ensure only registered accounts can leave reviews, and that only genuine users can register accounts. When platform privacy becomes trustless, that will mean that it will be possible to hide that data from the public, while still enabling a process for the public to validate the integrity of that data. In other words, blockchain-based privacy does not depend on trust. This would represent a major improvement in the robustness of financial and data infrastructure, that would enable a much larger volume of economic interaction.
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