I wish people would ditch this term "pseudo anonymity". It's totally meaningless.

Something is either named or it isn't. The fact that you can have off-chain anecdotal information about the parties to a particular trade doesn't make the money that was used for that trade any less "anonymous".

There are types of monterary media - e.g. debt based money - which derive their very existence from a contractual basis. For example, if you sign a mortgage agreement the bank will monetise that agreement for you so that you can exchange it for a house. That type of contractual money is nominated and the associated encryption of its transactions has more to do with security than privacy. i.e. it's to make sure that the right person is able to perform transactions and not all and sundry. You don't have much privacy because the bank sees everything and members of the public staff the bank.

In cryptocurrencies, however, a system of public/private keys is used so security isn't an issue. Authenticity, however is because we no longer have a trusted third party to back the money - which is why blockchains are transparent but private keys are...."private".

Gold nuggets are anonymous (not named). Barrels of oil are anonymous. Lumps of coal are anonymous. But if we stand in a circle and pass a lump of coal around, the fact I saw who had it before me doesn't make the coal any less anonymous.

So there is no "pseudo-anonymity". There is simply off-chain anecdotal knowledge of certain transactions, which is part of life and a good thing. Something that applies to every collateralising, base monetary token whether physical or electronic. Encryption is not something that adds any value to such a token. It's a tunnel for hiding stuff, not a monetary property.