A group of crypto and privacy experts may have found a way to anonymize blockchain transactions.
. Or at least a new way to build cryptocurrency mixers that maybe won’t get their operators thrown in jail.
Of course, not everyone is happy about this happy medium between compliance and privacy. A few cypherpunks worth admiring have found the notion of picking and choosing who to interact with in a smart contract a nonstarter given that digital technologies are meant to level the playing field by treating everyone equitably.Jacob Illum, a co-author and Chainalysis researcher,“The main idea is how do we achieve some sort of financial privacy on the blockchain,” Illum said.
But Tornado Cash is totally off limits if you don’t want to risk facing sanctions violations. Not all laundromats are the haunts of bad actors, of course, but at this point all crypto mixers should be assumed to be illegal. Good intentions and civil rights be damned. Blame the Hermit Kingdom. It’s important to note that although Soleimani is currently working on coding a minimum viable product, it isn’t clear yet whether such a system would work in the real world or even be legal. Illum noted that this could be compliant in some regions and not others, and that he and his co-authors may need to consider adding or removing features.Being able to give yourself a cloak of anonymity sounds like something all crypto people could get behind, but it’s not without controversy.
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