EXCLUSIVE: CBDC – Big Brother is Watching, But Stablecoins Could Offer a Way Out, Says Elusiv Executive

Yannik Schradeco-founder of privacy protocol Elusive, expressed a nuanced view on Friday on regulatory positions in the United States and Europe.

Schrade emphasized the need for innovation-friendly policies, even as he delved into the intricacies of maintaining privacy in the age of digital currencies, the potential of stable coins and the essential role of education in the progress of industry.

In an interview with Benzinga has Solana(CRYPTO: GROUND) Breakpoint At the conference, Schrade shared his views on how the industry can navigate the complexities of regulation without stifling innovation.

Elusiv’s latest adventure, Origin of the project – a Zero Knowledge encrypted user protection system – offered a decentralized approach to compliance that does not compromise on-chain privacy. Schrade called it “Our Great New Innovation.”

He added: “This allows us to have both on-chain privacy but at the same time compliance that prevents illicit actors from exploiting that privacy.”

The co-founder’s ideas came as the crypto industry faced increased scrutiny, with regulators and industry players seeking common ground.

Schrade was optimistic about progress in Europe, saying: “The regulations we’ve seen in Europe really show us that this is possible. »

He stressed the importance of proactive engagement with regulators and highlighted the work of organizations such as the European Crypto Initiative to shape legislative efforts.

Regarding central bank digital currencies (CBDCs), Schrade expressed concern about the potential for “complete surveillance of all your financial activities”, advocating for privacy tools that provide users with the anonymity absent in financial systems traditional.

Schrade sees stablecoins as a partial answer to the privacy concerns raised by CBDCs, suggesting that “regulated stablecoins can really be the solution” because of the security and privacy they can offer.

Education also plays a vital role, according to Schrade.

The industry needs to do more to communicate the benefits of blockchain technology and the importance of privacy, not only to the public but also to regulators.

He said this was essential to improving the industry’s reputation and fostering a constructive regulatory environment.

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As for the issue of transparency and corruption, Schrade acknowledged the potential of blockchain to address these issues, but cautioned against privacy compromises.

He stressed the need to resolve the tension between public control and the protection of personal data.

Schrade’s discussion on DeFi protocol vulnerabilities highlighted the need for developers to take security seriously and perform continuous auditing and verification to avoid hacks and scams.

Looking ahead, Schrade anticipated the release of Elusiv’s white paper detailing its compliance network technology.

As the digital asset landscape evolves, Schrade’s comment sets the stage for a broader discussion about the future of privacy and compliance in crypto, a topic that will undoubtedly be a highlight from the next Benzinga. The future of digital assets conference on November 14

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Industry titans BlackRock, DTCC, OCC, State Street, Société Générale, Hedera, Citi, BMO, Northern Trust, Citibank, Amazon, S&P Global, Google, Invesco and Moody’s will join Benzinga on November 13 to Fintech Deal Day and November 14 for The future of digital assets. Reserve a place here to join them!

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