150. Web3: Demystifying the next generation of the internet
Inside the Strategy Room
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How Does the Blockchain Really Work?
How private is the information as to who holds what in the decentralized model? If this is all on a giant blockchain, one of the advantages of having your money at a bank, aside from government deposit insurance, is that you know what the balance is. So if you know where to look, and you provided the address, actually the information is very public. At the same time without that, you can keep that very private. We probably need mechanisms to enable true privacy whilst retaining the utility of this kind of public database to administer these sort of lending products.
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