Crypto has a privacy problem. And the industry is still thinking about it wrong.
Blockchains are completely public: every transaction, every balance, visible to anyone forever. No institution runs its finances like that. But when $1.4B was stolen from Bybit, the only reason any of it got traced was blockchain transparency. Full privacy and that money is gone permanently.
Institutions won't move their finances onchain without it. For institutions evaluating onchain infrastructure, this is still an unsolved problem. It's also the thesis behind 1kx's investments in privacy infrastructure, where we're backing teams building the version institutions can actually adopt.
1kx Partner and cryptographer
@_weidai writes in
@Forbes on why threat-resistant privacy is the only version worth building:
forbes.com/councils/forbesbuβ¦