Snowden says lack of privacy poses a threat to bitcoin
Cybersecurity expert Edward Snowden says the regulations seek to have full control of cryptocurrency operations; if people know the system they can operate with total privacy
Former CIA and NSA employee, Edward Snowden, said during the Bitcoin 2019 conference that the biggest flaw in the main digital currency has to do with its lack of privacy. The expert highlighted the importance of privacy as a fundamental pillar for the freedom of people.
The connoisseur explained: “Lack of privacy is an existential threat for bitcoin. It is the only protection users have against political changes.” Snowden also said that at the time he was a bitcoin supporter and that he even used an encrypted communication service.
The expert in cybersecurity pointed out that regulators have unrealistic expectations and the ultimate goal is to want absolute control over digital currencies. He also expressed the need for exchanges to defend the privacy of users.
The interviewee also expressed his disagreement with the development of financial services for cryptographic currencies; claiming that many of these products are starting to look too much like banks.
“Something unforgivable is that you continue to develop services trying to be like banks and the world no longer needs that kind of institutions,” he said. Also referred to the thefts and hacks seen in the cryptographic ecosystem, citing the case of the Shadow Brokers; the group that auctioned information from the NSA in exchange for BTC payments in 2016.
L.Sáenz
Source: InfoCoin
