Mahi Sall, Advisor, Fintech-Bank Partnerships, Payments and Financial Inclusivity
January 25th, 2023
Mahi Sall is the CEO & Founder of FinXpair, a Berlin-based strategic advisory boutique firm focu[...]
Podcast: Bitcoin Privacy Interview with Matt Odell
Spotify Podcast | Matt Odell | Jun 24, 2022
Our privacy is continuously being eroded. Current best estimates are that 2.5 million terabytes of data are produced every day. A material amount of that information has extremely lax privacy protection: 98% of Internet of Things data is unencrypted; 83% of companies encrypt less than half the data they store on the cloud; 25% of websites are visited without encryption.
See: Will The ECASH Act be the Answer to Privacy and Virtual Currency in the U.S.?
Vast amounts of the data we freely shed are stored, analysed and triangulated for commercial reasons. These tactics are so sophisticated that it’s not uncommon for people to think companies are listening to their conversations.
We are being squeezed for our data in almost all aspects of our lives while cash, traditionally the only semi-private way of transacting, is being removed from society, and CBDCs inch closer to reality. Imagine if companies or governments could access and track your income, store of wealth and all those with whom you transacted. What is currently unnerving behaviour by those who track our data could rapidly become something much more maligned and coercive.
Perfect privacy, whether with bitcoin or not, is a pipedream. The goal is to continually improve in protecting a fundamental human right, privacy.
See: How Unadjusted Currency Transaction Reporting Leads to Invasion of Privacy and More Compliance costs
Matt Odell is host of the Citadel Dispatch and venture partner at Ten31. In this interview, we discuss why each additional positive act of privacy protection improves Bitcoin's resilience and value. Perfecting privacy is not the goal; making a start is, as we don’t know what the future holds.
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