IMF Head Foresees the End of Banking and the Triumph of Cryptocurrency

Re:IMF Head Foresees the End of Banking and the Triumph of C... by tenaciousDaniel on Monday October 02, 2017 @11:19AM (#15384457)

As a counter point, you could argue that the pseudonymous nature of cryptocurrency is simply another technological hurdle that, like the scalability problem, can be overcome in time.

[ Parent | on HN ]

Re:IMF Head Foresees the End of Banking and the Triumph of C... by nobodyorother on Monday October 02, 2017 @01:38PM (#15385974)

Not really. The trouble with deanonymization in a network is that as soon as anyone fails to follow the proper privacy protocol, the entire network can be unmasked through the social graph.

For example, Flickr users have been identified by their Twitter connections:

https://arstechnica.com/tech-policy/2009/03/pulling-back-the...

[ Parent | on HN ]

Re:IMF Head Foresees the End of Banking and the Triumph of C... by glenneroo on Monday October 02, 2017 @06:16PM (#15388432)

I would imagine Palantir has been working on this since cryptocurrencies started being becoming popular, even though they have denied it[0]. Or somebody else such as SABR[1].

[0] https://www.coindesk.com/palantir-quantum-bitcoin-cloud-mini... [1] https://bravenewcoin.com/news/sabr-palantir-for-the-blockcha...

[ Parent | on HN ]

Re:IMF Head Foresees the End of Banking and the Triumph of C... by semiel on Monday October 02, 2017 @12:57PM (#15385555)

Yep, and we pretty much know what the solution will look like: zero-knowledge proofs, such as the ones used by ZCash.

[ Parent | on HN ]

Re:IMF Head Foresees the End of Banking and the Triumph of C... by EthanHeilman on Monday October 02, 2017 @01:25PM (#15385852)

zeroCash is a pretty good starting point to a solution to the privacy problem.

[ Parent | on HN ]