The post Privacy as a human right in crypto: An uncompromising stand appeared on BitcoinEthereumNews.com.

The following is a guest post by Felix Mohr, Co-founder at MohrWolfe.In an age where our digital footprints are scattered across the expanse of the internet like breadcrumbs, the concept of privacy has become as elusive as it is precious. As we navigate the aftermath of COVID-19—a time that has immeasurably digitized human interactions—our right to privacy remains steadfast amidst the winds of technological progress. Nowhere is the debate on privacy more critical than in the realm of crypto, where the very principles of decentralized finance are continually being weighed against the scales of regulatory scrutiny. The Dichotomy of Privacy and Public Chains Public blockchains, such as Ethereum and its myriad of EVM (Ethereum Virtual Machine) compatible chains, have made significant strides in security—fortifying against hacks, shielding smart contracts, and safeguarding against data leaks. Privacy, however, can often feel like the sacrificial lamb offered at the altar of transparency and efficiency. Decentralization and minimal personal data collection should, in theory, buttress our privacy. Yet, as these public ledgers hold tall its banner of transparency, every transaction becomes a public spectacle. We commend the strides made for security, but we must also question if securing our assets is where we should draw the line when it comes to protecting our personal, private spheres. Privacy: A Human Right Facing Financial Marginalization The Universal Declaration of Human Rights Article 12 solemnly proclaims “the right to privacy without arbitrary interference”. Still, the irony persists: “those in the comfortable echelons of power grip tightly to their privacy while being cavalier with ours” . The financial realm exhibits perhaps the starkest dichotomy, where the privacy of the elite seems sacrosanct whereas the average citizen finds theirs increasingly eroded. Financial privacy is not a rogue’s charter but a bastion of dignity. Yet, as we linger in the…

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Filed under: News - @ June 1, 2024 12:20 pm