The Importance of Identity Data in Bitcoin

If you have access to financial assets and can benefit from a low cost of capital, you can make low rates and quantitative easing work for you. Critics often ask who exactly Bitcoin is for? This perhaps a misspecified question. Bitcoin by design does not require identity data to work. Your counterparty could be on the OFAC sanctions list. They could be a sentient toad or a few lines of code. Bitcoin has no way of knowing nor does it care. The only trust required is users trusting that the cryptographic and economic assumptions hold. So far they have.