Binance Founder CZ Speaks About Cryptocurrencies! He Explained What He Sees as a Shortcoming!

CZ, the founder of Binance, the world’s largest cryptocurrency exchange, said that the low privacy in on-chain transactions is a major factor hindering the widespread adoption of cryptocurrency payments.

At this point, CZ notes that the current on-chain transaction model limits its practical use by businesses and organizations and has the potential to expose sensitive information such as workflows and financial records.

“Lack of privacy in transactions may be the missing link in the adoption of cryptocurrency payments.”

If a company pays its employees’ salaries on a chain, the structure allows almost all members to check how much everyone is paid by clicking on the sender’s address.

At this point, the current transparency model limits the actual use of crypto payments by companies and institutions.

Experts increasingly agree that improved on-chain transaction privacy is essential for widespread corporate adoption.

*This is not investment advice.