Learning about Bitcoin through the lens of privacy

Written by Jason on January 24, 2014
Kristov Atlas, a member of BitcoinPHL and the author of the upcoming book, Anonymous Bitcoin, has penned a piece on his blog about how Bitcoin, and other decentralized cryptographic technologies can help protect both our data and privacy. However, the features and technologies are only beginning to be developed and there are still many failure points that can compromise your privacy and make you vulnerable to attack.  In this data driven, information based world, data is money. When we entrust others with our data, it's the same as trusting a stranger with our money, the keys to our homes, safe deposit boxes, and everything else that we cherish or ascribe value.

Currently, most of our data is stored centrally.  This makes it extremely easy for bad actors to compromise 3rd party systems and take whatever they want.  The recent data breach at Target and other major retailers is a glaring example of this.   Trusting 3rd partys to go to the lengths necessary to properly secure our information is a losing proposition.  Frankly, I don't even think it's something they could do effectively  even if they choose to devote massive amounts of time and resources to the issue.  

This is issue is of particular importance in the Bitcoin eco-system.  While Bitcoin, the protocol, operates in a decentralized fashion, the services and exchanges that lay on top of it are not.  Many times we don't even know who owns these services.   There is still much work to be done in this area.   Personally, I can't wait for the day that there a re decentralized exchanges, mixers, wallets, and whatever else the amazing minds in this industry come up with.  Give him your email if you'd like to be notified when his book is released.  I've been fortunate enough to get a preview. It'll be worth the read!

Read Kristov's Post here