Unchained Tor Bair of Secret on Why Private Smart Contracts Are Important - Ep.286
Nov 2, 2021
Tor Bair, the founder of Secret Foundation and a pioneer in privacy-first blockchain technology, dives into the significance of privacy in the crypto world. He discusses how the Secret Network empowers users by keeping smart contracts and NFTs private, unlike public blockchains which can lead to surveillance. Tor highlights the innovative aspects of private metadata in NFTs, explores the unique challenges of decentralization, and debates the appropriate regulatory approach for privacy tech in crypto.
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Tor Bair's Crypto Journey
- Tor Bair's initial interest in crypto stemmed from its volatility, appealing to his background as an options trader.
- His perspective shifted after taking a blockchain course at MIT, where he realized crypto's potential for global revolution.
Secret Network's Privacy Focus
- Secret Network prioritizes smart contract privacy, enabling private data inputs, outputs, and contract states.
- Public blockchains by default publicize all transactions, posing privacy risks similar to constant Facebook data leaks.
Blockchain's Surveillance Risk
- Public blockchains permanently record all transactions, creating a persistent, potentially exploitable history.
- This poses a risk as companies increasingly harvest on-chain data, potentially leading to a surveillance blockchain economy.
