MARKETS DAILY: Featured Story | Transparency for the Crypto Whales, Privacy for the Plebs

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CoinDesk

Tech News, Business News, Daily News, News

4.7 • 698 Ratings

🗓️ 22 July 2023

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

Identifying the owners of crypto wallets may level the playing field for retail traders. But if taken too far it could be weaponized against the weak. Today's episode is sponsored by Kraken Pro. Today’s featured story is an opinion piece from CoinDesk's Marc Hochstein, titled: “Transparency for the Crypto Whales, Privacy for the Plebs.” - From our sponsors: Meet the all-new Kraken Pro. The powerful, customizable, beautiful way to trade crypto. It’s Kraken's most powerful trading platform ever - packed with trading features like advanced order management and analytics tools — all in a redesigned, modular trading interface. Head to pro.kraken.com and trade like a pro. Not investment advice. Some crypto products and markets are unregulated. The unpredictable nature of the cryptoasset markets can lead to loss of funds and profits may be subject to capital gains tax. - This episode was hosted by George Kaloudis. “Markets Daily” is executive produced by Jared Schwartz and produced and edited by Eleanor Pahl. All original music by Doc Blust and Colin Mealey. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0	It's Saturday, July 22nd, 2023, and this is Markets Daily from Coindesk.
0:11.1	George Clute is here again with your weekend story.
0:13.8	On today's show, we're taking a look at privacy.
0:17.0	And just a reminder, CoinDesk is a new source and does not provide investment advice.
0:28.6	Today's story is an opinion piece written last week by CoinDesk's executive editor of
0:32.7	Consensus, Mark Hawstein.
0:34.6	It is titled, Transparency for the Wales, Privacy for the PLEBS.
0:39.2	Depending on your perspective, the week of July 10th to July 14th brought a double dose of
0:44.9	black pills for those who held out hope of salvaging cryptocurrency users' privacy, or white
0:50.1	pills for those seeking greater transparency for a $1 trillion market.
0:59.5	First, Arkham Intelligence, an on-chain data analytics provider opened an Intel bounty marketplace with the express purpose of unmasking the owners of crypto wallets.
1:05.0	De-anonymization is destiny, the company declared in a white paper, really a marketing brochure, printed in the same
1:12.1	academic-looking font and layout as Satoshi Nakamoto's original proposal for anonymous
1:16.9	digital cash.
1:18.4	Quote, eventually everyone's blockchain identity will be linked to their real-world identity,
1:24.4	end quote.
1:25.5	Descriptively and directionally, Arkham may be correct, but its project of accelerating
1:30.9	that outcome understandably rubbed privacy advocates the wrong way.
1:34.9	The subsequent revelation that Arkham had inadvertently leaked its customers' personal data
1:39.5	offered comic relief.
1:41.7	Blockchains are one kind of fishbow.
1:44.1	Regulated exchanges are another.
	...

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