• atempuser23@lemmy.world
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    2 days ago

    crypto that uses block chain is 100% not private. The whole point of the blockchain is that every single transaction is logged and verifiable for the life of the coin. It’s decentralized so you don’t need to involve a bank, that not the same as private.

    Cash transfers are private. That is why there are so many restrictions on cash transactions at banks and borders.

    • Knock_Knock_Lemmy_In@lemmy.world
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      2 days ago

      The data on the blockchain is not private.

      However data can be encrypted before it hits the blockchain and it can also be cryptographicly manipulated in ways that remain private.

      • atempuser23@lemmy.world
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        2 days ago

        At it’s core the block chain encourages verification. doing extra steps to maintain privacy is not the same as system that is private. It’s like saying cell phones are private if you buy a burner phone with cash. Technically well but not by design.