This is exactly why we just launched STRK20: protocol-level privacy for all assets on Starknet.
The bank analogy in this article perfectly captures why we need onchain privacy, and why it needs a compliance path built in:
> Imagine if every time you paid with your card, the merchant, and everyone else in the shop, could see your entire financial history --≥ complete madness, yet that's the current state of crypto.
> The old solution: mixers like Tornado Cash. But use one and you risk getting your wallets blacklisted from DeFi apps and CEXs.
> The workaround: use a CEX to unlink your wallets. But now you're trusting an intermediary (and KYC'ing to do it), and as the author found out, one sanction later and your entire onchain life is held hostage.
STRK20s on the other hand:
> Fully onchain (no intermediary, no KYC)
> Works for any asset, in one click, with the lowest privacy fees on the market
> Viewing keys fix exactly what's happening to the author right now: confidentiality by default, with selective, targeted disclosure (if and only if) on valid legal request, instead of total transparency collective punishment
It's definitely time to encrypt your life with the right tool.