This is a summary of the op-ed “Privacy Isn’t Just an Edge Case for Crypto” by Leah Callon-Butler, published on CoinDesk on May 2, 2024.
Although regulators and financial authorities often frame KYC (Know Your Customer) as a necessity due to people exploiting crypto for nefarious means, Emfarsis Director Leah Callon-Butler believes this doesn’t justify removing people’s privacy. This line of thought risks alienating everyday people who have turned to cryptocurrency due to inaccessibility or desperate people fighting in societies that are against them.
In her CoinDesk op-ed, “Privacy Isn’t Just an Edge Case for Crypto,” Leah argues that it isn’t just people on the fringes who stand to benefit from the privacy crypto offers. It is a fundamental human right that everyone deserves.
In her article, Leah references a guest post by Neeraj Agrawal on the Bankless newsletter, highlighting how crypto has served as a lifeline for freedom fighters, activists, and marginalized people worldwide. Although compelling, focusing on circumstances like these still reinforces the idea that privacy isn’t a concern for everyone. Focusing on a person’s reasons for privacy is ironic, as if it’s trying to say that those who skirt KYC are hiding something.
“If we want to inspire a world where privacy is not an individual’s responsibility but the default feature on every platform we interact with, we need to do a better job of demonstrating how and why privacy is a basic human right for absolutely everyone.”
Leah reminds readers that people focused on privacy aren’t all conspiracy theorists, tin foil hat-wearing crazies, or paranoid gun fanatics. “Normal people” can all have perfectly valid reasons to not be comfortable with complying with KYC requirements in Web3.
Read the full article here: “Privacy Isn’t Just an Edge Case for Crypto” by Leah Callon-Butler. Published May 2, 2024, on CoinDesk.