Why blockchains need privacy for apps

web3 with a16z crypto

Andreessen Horowitz

Gaming, Blockchain, Web 3, Blockchains, Open Source, Business, Decentralization, Visual Arts, Computer Science, Ownership, Art, Entrepreneurship, Entertainment, Cypherpunk, Web 3.0, Music, Internet, Cryptography, Crypto, Computing, Web3, Innovation, Distributed Computing, Culture, Public Goods, Creator Economy, Arts, Technology

4.4 • 66 Ratings

🗓️ 1 February 2025

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

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Summary

Blockchain privacy is about more than payments — it's about enabling all new types of apps. We discuss the set of onchain privacy-enabling technologies, why they matter, and more with Provable Cofounder and CEO Howard Wu, the brains behind Aleo, a privacy-focused blockchain network, plus a16z crypto Research Partner Justin Thaler.

Transcript

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0:00.0	Welcome to Web3 with A16Z. Today's show is all about privacy, why it matters, and how to achieve it technically on-chain.
0:12.4	It's fair to say that many blockchains today are quite revealing, but that openness and transparency
0:18.8	doesn't work for everything. I mean, who would want anyone to have full-on X-ray vision into your finances, right?
0:25.6	That's one reason why there's been a growing appreciation for and trend toward more blockchain privacy.
0:32.6	Our guest today argues that there are many other reasons you might want some secrecy, too,
0:38.3	including a whole host of on-chain applications and uses that only become feasible when
0:43.8	you have a notion of privacy.
0:46.3	That guest is Provable Co-founder and CEO, Howard Wu, who helped invent the protocols behind
0:52.3	and build Allio, a privacy-focused blockchain network.
0:57.0	Wu joins A16Z crypto research partner, Justin Thaler, who is also a computer scientist at Georgetown University,
1:03.9	as well as the brains behind the cutting-edge open-source ZKVM jolt.
1:08.2	Plus me, your host, Robert Hackett.
1:13.1	The first voice you'll hear is mine, then Howard's, then Justins. As a reminder, none of the content should be taken as investment,
1:19.0	business, legal, or tax advice. We see A16Z.com slash disclosures for more important information,
1:26.4	including a link to a list of our investments.
1:30.1	I thought we could start off the conversation by talking about privacy. I find it fascinating that
1:35.8	there's this misperception in crypto and about crypto that people think it enables anonymity,
1:41.4	it enables all of this like secret keeping. But actually, when you're talking about blockchains, everything's transparent. Sure, it enables City, it enables all of this secret keeping. But actually, when you're talking
1:45.2	about blockchains, everything's transparent. Sure, it enables pseudonymity, if I'm saying that word,
1:49.8	right, that's a tough one. But for the most part, in order to make sure that nobody's doing anything
1:55.0	untoward, you have to have this kind of full transparency by default. I get the sense that people haven't really thought
2:01.7	deeply about the user journey in crypto. And because of that, this concept of privacy is fundamentally
	...

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