Quote from: arufox on June 09, 2023, 04:29:32 PM

The crypto market has experienced rapid growth in recent years. However, behind this tremendous potential lie serious challenges related to security and privacy.

What many people are asking is what are the main challenges faced in protecting the security and privacy of users in the crypto market? How can the crypto industry overcome these challenges?

First of all, you had been here for quite a long time, you can put more effort when you created a thread.

Quote from: franky1 on June 11, 2023, 12:55:59 PM

Quote from: arufox on June 09, 2023, 04:29:32 PM

The crypto market has experienced rapid growth in recent years. However, behind this tremendous potential lie serious challenges related to security and privacy.

What many people are asking is what are the main challenges faced in protecting the security and privacy of users in the crypto market? How can the crypto industry overcome these challenges?

finance has never had privacy. even before crypto fiat was not private. it had KYC.. yep KYC is nothing new. its been around for decades before crypto

the issue with crypto is that in 2009-2013 it was defined as private property (like pokemon cards or ty beanie babies) where they were not legally defined as a recognised currency
however in 2013 they became legally recognised as a currency which meant that currency laws and regulations had to step in. and start messing around with licencing payment processors

trying to do DEFI, DEX and subnetwork routing wont solve this. things like localbitcoins tried it and eventually the small independent traders were getting caught by banks being told they cant just use their personal bank accounts if they were acting as a business trader of a currency. causing those traders to then need to request KYC (there were other reasons too)
DEFI DEX and subnetwork routers are a new thing of the same problem which they will be hit sooner or later with the same issue localbitcoiners faced.(it takes time for regulators to catch up on how to track and hit unlicenced payment processors)

however the big picture solution to privacy is this
have a system that doesnt define itself as a currency system but as a private property swap system, thus currency laws wont apply

I agree with you in most of your statement, the only problem i see its..... the "new" crypto guys who doesnt want to understand basic question and think all its beautifull and easy, and also think KYC was only invented to destroy crypto.

When you ask them the question , ok now go an buy a house in the real life with the money made in crypto without having a job and without making a laundry enginering of money.

Yes, they cant provide an answer.