The crypto industry royally screwed up privacy

Privacy is a complicated topic. Few would argue that privacy is not important. It’s generally more interesting to talk about things that are disputable. So, the limited arguments against privacy actually make it somewhat boring to discuss and easy to take for granted. As Edward Snowden famously said: “Arguing that you don't care about privacy because you have nothing to hide is like arguing that you don't care about free speech because you have nothing to say.” However, what if your privacy is not a priority? What if your privacy…

Sorry, Blockchains Aren’t Going to Fix the Internet’s Privacy Problem

It has become an article of faith across the blockchain industry that there is enormous latent demand by users who are poised to take back control of their personal data. Aggregators, search engines and social media companies have done an amazing job of harvesting that data, pulling it all together into enormous data sets and then monetizing the information. Paul Brody is EY’s global blockchain leader and a CoinDesk columnist Time and again, consumers find out that what they thought to be anonymous and aggregated data sharing isn’t nearly as…

New certification schemes will “raise the bar” of data protection in children’s privacy, age assurance and asset disposal

The Information Commissioner’s Office (ICO) has approved the first UK GDPR certification scheme criteria. Certification was brought in under the UK GDPR as a way to help organisations demonstrate compliance with data protection rules and, in turn inspire trust and confidence in the people who use their products, processes and services. Certification works by providing a framework for organisations to follow, which offers clients and customers assurance that they are adhering to strong standards. Organisations with expertise in a particular area can develop scheme criteria. The ICO has approved the…

How MPC can solve blockchain’s data privacy problems

With the global cryptocurrency market cap now reaching US$2.1 trillion, the industry is experiencing a time of both heightened interest and heightened scrutiny by regulators, consumers, businesses and governments — some warranted, some not. This scrutiny runs parallel to the massive increase in concern directed toward big technology firms that are hoarding consumer data, creating a sense of urgency not seen since the advent of the World Wide Web — and for good reason.  While blockchain technology has facilitated great strides toward data protection, it, too, has its downfalls. Blockchain…

Encrypted Messenger Company Signal Faces Scrutiny Over Mobilecoin Integration – Privacy Bitcoin News

Signal, the cross-platform encrypted messaging service is facing criticism this week, after the company Signal Messenger told the public it was integrating the cryptocurrency mobilecoin. Moreover, controversy surrounds the company’s founder and CEO Matthew Rosenfeld, known as ‘Moxie Marlinspike’ over his previous ties with the Mobilecoin project. The Relationship Between Mobilecoin and Signal During the last week, Signal Messenger has been under fire for integrating the privacy-centric cryptocurrency mobilecoin (MOB). The subject has been trending on social media and forums as a number of crypto advocates are not pleased with…

Digital Yuan Won't Be Fully Anonymous but Offers 'Controllable' Privacy Protection, Says Official – Privacy Bitcoin News

Privacy has been a discussion that has not gone unnoticed when it comes to the forthcoming launch of the digital yuan. The head of the People’s Bank of China-run Digital Currency Research Institute had firmly pointed out that anonymity cannot be guaranteed at all. Feature Seeks to Avoid Tax Evasion and Finance Terrorism During an interview with the Securities Times, Ma Changchun told the 2021 China Development Forum that a fully anonymous central bank digital currency (CBDC) is impossible. The reason, said the official, is that the government needs to…

Federal judge's decision could be a blow for the privacy rights of crypto users

A federal judge has implied that an individual may not have the right to force the Internal Revenue Service, or IRS, to expunge financial records it obtains from crypto exchanges. In granting a motion to dismiss filed in December, Judge Joseph DiClerico in the District of New Hampshire suggested the Internal Revenue Service has no obligation to honor requests to purge crypto transaction records it received from Coinbase or other exchanges regarding information for federal taxes. Dismissed in part for lack of jurisdiction, the civil rights case filed by plaintiff…

China’s digital yuan will offer best privacy protection, says official

Chinese authorities are willing to ensure maximum user privacy for the country’s central bank digital currency, or CBDC, according to an official at the People’s Bank of China. Mu Changchun, head of the People’s Bank of China’s digital currency research institute, spoke of China’s digital yuan privacy capabilities at the 2021 China Development Forum on Sunday, local news agency Sina Finance reported. Mu stated that a completely anonymous CBDC “is not feasible” because a national digital currency must meet requirements related to Anti-Money Laundering, Counter-Terrorist Financing and anti-tax evasion. However,…

The dawn of decentralized web privacy

The internet has undoubtedly revolutionized the way we live. It has changed how we work, access information, travel, communicate and interact with each other. Along with it comes a greater level of freedom that we enjoy because of democratizing and decentralizing information. By doing so, the internet has opened up to a greater debate, analysis and scrutiny by the general public on matters that impact them and the world. Thanks to the internet, the sphere of influence is shifting away from centralized authorities and the mainstream media. In our rush…