Recent privacy-related scandals have become rage. It could be that privacy in daily activities or financial privacy, tools like 'Alexa', 'Google Assistant', and even governments with their “secret agency” have invaded. It violates everyone's privacy. Is all of this a reminder of the warnings in George Orwell's 1984 novel?
A recent report shows that Australian banks are now asking customers to provide detailed invoices of their money usage as a condition of respecting transactions, another example of the right to Privacy is somewhat affected daily.
Breaking News: Reports Australian banks are now requiring customers provide invoices explaining what the money is being used for when withdrawing cash OR transferring funds electronically. Money in a bank, is not your money. 🏦💰🔐 pic.twitter.com/eEzWVg81IK
– Alex Saunders 🇦🇺👨🔬 (@AlexSaundersAU) March 6, 2020
“Australian banks are now asking customers to provide invoices explaining what the money is being used for when they withdraw cash or transfer money electronically. Money in the bank, actually not your money.
In an attempt interview Recently, former MRX maintenance director Riccardo Spagni talked about privacy in the context of a number of issues that have emerged over the past month. He addressed the issue of cryptocurrencies, the rise of central bank digital currencies (CBDCs) and their implications for privacy and surveillance, while also addressing the idea The meaning of Libra relates to everyone's financial privacy and beyond.
Referring to privacy concerns, Spagni said:
“We have fought and failed badly in Australia, where managers are engulfed in backdoor issues and corruption… I think fighting against responsibility and corruption is a worthwhile war. And I think the private coins don't even appear in the dictionary of those regulators. ”
At the same time, Spagni also talked about MRX, noting that private coins exist in indifference, before claiming that people may not yet pay enough attention to privacy.
Continuing to talk about Libra, CBDC and the question of financial privacy, Spagni realized that while these concepts might work well in other areas, they would not reap much from an anti-financial perspective. censorship.
He added that:
“I think the discussions around CBDC are about to pave the way for Bitcoin and of course other currencies like MRX but I would be very surprised if any CBDC or a coin like Libra has its own right. best private ”.
Speaking of privacy, back for the first time when Libra was announced, in fact, one joint statement was launched by the Office of the British Information Commission (ICO), data security commissioners from Australia, Albania, Burkina Faso, Canada, EU, UK and US claim that while Facebook and Calibra have taken making extensive public statements about privacy, but they have failed to address specific information processing activities.
On the other hand, conversations about financial privacy ultimately make people see cryptocurrencies as a reliable alternative. Cryptographic tools such as zero-knowledge proofs (ZCASH), ring signatures (MRX) and Bitcoin mixers for privacy enhancement are also being discussed recently.
There have also been various discussions about how cryptocurrencies, primarily Bitcoin, may not yet be ready to support people with privacy. Interestingly, not so long ago in an interview, Riccardo Spagni, Charlie Lee of LTC and Lam Samson Mow of Blockstream talked about the biggest barriers that Bitcoin has to overcome, including privacy.
While Spagni addresses this topic by claiming that “privacy will be a major battle,” Blockstream's CSO Mow has argued that there are some people with a Bitcoin perspective that will never have a protocol. privacy on the base layer.
In addition, Charlie Lee, the creator of LTC also noted that it is possible that Bitcoin will not be in private mode at the grassroots level. However, he emphasized that “people always aim for more financial privacy”.
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