Ripple Is Funding Research For Crypto Anonymity – Private Transactions On XRP Legder
Ripple makes headlines once again following the latest announcement.
Ripple says it is funding research on blockchain anonymity via its University Blockchain Research Initiative (UBRI), according to the latest reports coming from the online publication the Daily Hodl.
Supporting research and developments in cryptos and digital payments
It’s worth noting that the program provides financial and technical resources to top universities all over the world in order to support research and development in cryptos and digital payments.
Delft University of Technology assistant professor for distributed systems Stefanie Roos stated that while private blockchain seems to be the logical solution for maintaining anonymity, there are a lot of advantages in using a public blockchain with the right privacy features.
“Think of systems where anonymity is temporal. You get privacy for the time that you need it. If you want to have transparency later on, you can reveal the relevant cryptographic keys to demonstrate that you complied with regulatory requirements, show off your high-quality suppliers or to prove a patent case,” she said.
She continued and explained that “People won’t want others seeing what they buy or sell. That has huge potential for blockchain bullying. Imagine teenagers knowing each other’s transaction history, being able to see who has the most expensive clothes or shoes. Some people may not want others to know that they get government benefits. We have to make sure that these systems preserve our privacy.”
We recommend that you check out more details in the original notes.
In other news, earlier today, it’s been revealed that Ripple chief technology officer David Schwartz recently talked about the company’s management of its massive XRP holdings.
We tried. As soon as you could sell XRP easily, giving away became really, really hard.
— David Schwartz (@JoelKatz) July 17, 2020
Amidst a Twitter debate, Schwartz said that the company tried to give away its 55 billion XRP but found it very difficult due to a specific reason.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.