If blockchain is going to scale to billions of users with use cases like payroll and and savings, privacy is a prerequisite for adoption. But if privacy preserving technology is vulnerable to the law – think OFAC’s sanction of Tornado Cash – how will adoption at that scale ever be possible? In this episode, Yannik Schrade (Elusiv) describes the possibility of a gray area between public and private transactions on blockchain. Through community consensus, Elusiv is making it possible to flag illicit actors and grant temporary decryption authority to third parties, all without compromising the privacy of its honest actors. Yannik describes the mechanics of how such a system works and wrestles with the role of human judgement in trustless systems.
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