In an hour-long talk as a virtual guest at Camp Decrypt in Napa, California, Edward Snowden, the famed computer intelligence consultant, gave his take on the state of Bitcoin, Ethereum, and crypto in general, primarily from a privacy perspective. And in this regard, in Snowden’s opinion, crypto as a whole is moving in the wrong direction. Snowden expressed his concern that a few centralized players, such as Coinbase, will give concede to the regulators, and once that happens, it’s over. “Don’t Trust, Verify” is the Bitcoin mantra, but from Snowden’s perspective, although he has a love for Bitcoin, Snowden was critical of Bitcoin and its lack of anonymity on transactions. He fears that the mass adoption and onboarding process of billions of people to use crypto will kill the spirit and purpose of crypto, similar to that of the original web. In the end, the regulators will have their CBDC and the major centralized players will have KYC and start scanning your face in order to buy.
Edward Joseph Snowden is an American and naturalized Russian former computer intelligence consultant who leaked highly classified information from the National Security Agency (NSA) in 2013 when he was an employee and subcontractor. His illegal disclosures revealed numerous global surveillance programs, many run by the NSA and the Five Eyes Intelligence Alliance with the cooperation of telecommunication companies and European governments, and prompted a cultural discussion about national security and individual privacy.
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Edward Snowden: Crypto Is Heading In The Wrong Direction