Blockchain doesn’t actually guarantee privacy. You can still track money transfers and transactions. Like normal Bank accounts. It just makes it a bigger pain in the ass to follow the trail. The Privacy aspect comes in because traditionally the wallets used for Blockchain currencies aren’t associated with people’s names. But given enough time you can match a name to a Wallet.
It’s how the Feds scored the big pedo ring busts a few years back. Or at least how they say they did at any rate.
That was my point. Blockchain supposedly takes away all secret transactions. Everything is verified. So I don’t see how privacy plays into that. I can see after your explanation how wallets can possibly be anonymous but as with anything electronic, security is only a matter of time. Giving up physical security was the biggest threat ever to security. Anything that can be done remotely with a computer in someone’s basement is by definition not as secure as having to physically break into a building.
Blockchain doesn’t actually guarantee privacy. You can still track money transfers and transactions. Like normal Bank accounts. It just makes it a bigger pain in the ass to follow the trail. The Privacy aspect comes in because traditionally the wallets used for Blockchain currencies aren’t associated with people’s names. But given enough time you can match a name to a Wallet.
It’s how the Feds scored the big pedo ring busts a few years back. Or at least how they say they did at any rate.
That was my point. Blockchain supposedly takes away all secret transactions. Everything is verified. So I don’t see how privacy plays into that. I can see after your explanation how wallets can possibly be anonymous but as with anything electronic, security is only a matter of time. Giving up physical security was the biggest threat ever to security. Anything that can be done remotely with a computer in someone’s basement is by definition not as secure as having to physically break into a building.