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Blockchains and Privacy

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Dean Pierce

Security Researcher

ConsenSys

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Blockchain Basics

  • Global peer-to-peer network
  • Distributed ledger of transactions
  • Coin holders can publish new transactions
  • Batches of transactions get rolled into "blocks"
  • New block is cryptographically appended to chain

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Privacy Implications

  • All transactions visible to all users!
  • Addresses can be generated by anyone
  • No requirement of government ID

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Custodianship

  • Not your keys, not your coins!
  • Be your own bank!
  • Banks get robbed
  • Trusted third parties are convenient

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AML / KYC

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Leaks!

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SIM Swaps!

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Identity is Changing

  • Key based identity is the future
  • SSNs / Passwords still dominate
  • Data mining is at an all time high
  • Blockchain based identity / reputation
  • Data sovereignty

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Data is the new oil!

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Mixers

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Zero Knowledge Magic

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@deanpierce

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(twitter, linkedin, etc)