Beyond Satoshi’s Vision: The Unexplored Possibilities of the Blockchain (Part 2)

Read the first part of this article here:https://medium.com/@edee.ecosystem/beyond-satoshis-vision-the-unexplored-possibilities-of-the-blockchain-part-1-7cd62b49d9e5

The Future of Anonymity in Cryptocurrency: The Inevitable End or a New Beginning?

While anonymity of users was not explicitly mentioned as an advantage in the Bitcoin White Paper, yet it quickly became one of the currency’s attractive features for early adopters. The anonymity of Bitcoin and other cryptocurrencies has raised concerns among government regulators, who fear its potential use in tax invasion. However, the inherent nature of blockchain technology makes it impossible to separate anonymity from crypto transactions, leading governments to put controlling mechanisms on cryptocurrency gates, exchanges. Strict KYC policies have been enforced on centralized exchanges, ultimately removing the anonymity from crypto transactions. Both centralized and decentralized exchanges have had to cooperate with regulators to avoid legal consequences. However, the emergence of Decentralized Autonomous Organizations (DAOs) presents a new opportunity for a no KYC gate to open toward the crypto world without considering legal consequences.
Can a for-profit DAO act as that gate?
Would Satoshi Nakamuto open up such gate and guarantee the anonymity in Cryptocurrency transactions?

The next part of this article (The Hidden Risk of Blockchain Payments: Protecting Buyers in the Age of Cryptocurrency) will be published by 4/25/2023.