Lens Frens, Do you think we need #privacy in #DeFi? 🤔What do you think about the use of zero knowledge proofs in blockchain apps?🔒 I was at ETH Denver and had an impromptu interview with a TradFi guy and a lawyer and we started chatting about it. Comment your thoughts 💭
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even if no one admits it, change is coming and the lens universe is already keeping up with it.
even if no one admits it, change is coming and the lens universe is already keeping up with it.
ZK proofs is amazing and it is gonna improve the blockchain industry seamlessly with huge impact.
even if no one admits it, change is coming and the lens universe is already keeping up with it.
Glad to see someone talking about zero knowledge proofs, and for once, it's not some clown who is just babbling on and on about some speculative airdrop they are farming but instead someone talking about actual potential applications of the concept. As for privacy, I'm of the opinion that it's a fundamental human right, and one that we are losing more and more with each passing day. I would be totally fine with letting those who wanted to, build out their whole little fake "defi" ecosystem, wherein everything is actually a carefully constructed corporate mess - everyone's KYC'd to the 9th degree & those "institutions" we keep hearing about for years now finally show up. They can have it, and keep it - if that's what the future is going to look like (and increasingly, it sadly appears to be that way).
Hell, we'll probably be stuck in a dystopian hellscape before long, surviving off whatever CBDC pittances our betters decided we could have. Everything has been moving in that direction for a long time, and I genuinely fear that we're already past the point of no return. Sorry for being such a pessimist, I'll see myself out...lol
I think what the protocol could do it to provide the option for the user to disclose private info in a case by case basis. I think some users would offer to disclose in exchange private info for incentives and would appreciate clear rules. need to build the ui to offer the specific info and the option to turn off disclosures at will.
That's a good point on ZK proofs and it's a great way to make it more easy to understand to the masses (albeit they won't necessarily use the underlying mechanism themselves).
@alysiatech.lens would love to get in touch and write a piece together about this or create a video explainer for such a ZK application
Depends on whether the technology used by DeFi will involve unauthorized or over-authorized data
Zero-knowledge proofs will def have a HUGE impact in the space and beyond. We already see that with privacy and scaling applications exploding rn. Nevertheless, prob still just scratching the surface here. Can't wait to see some more and more disrupting applications emerge within the next months/years ahead leveraging the unique properties of ZKPs. Also interesting for gaming btw. To your question. Privacy in Defi makes totally sense imho. The regulatory side eg. how to avoid bad actors is another interesting and needed debate though.