Decentralization and Privacy Can Co-Exist on the Blockchain Says Privy CEO Stern

With data flooding today’s blockchain infrastructure, speed and scalability have become an increasing bottleneck. Nevertheless, user privacy is a part of this equation and in the notoriously transparent world of blockchain, what’s a developer to do?

At ETH Denver 2022, Privy CEO Henri Stern – formerly of Filecoin – showed his hand on where his company will fit in as it looks to help blockchain developers thread the needle and maintain user privacy while continuing to offer improved decentralization and better user ownership.

For Privy, its API offering starts with effective management of user data off-chain by addressing compliance and infrastructure requirements. The company hopes that easy access to its API will somewhat relieve developer concern about the thorny thicket of user privacy and let them concentrate on their blockchain product and on chain mechanics.

Stern is a believer in the blockchain as a viable platform as long as private user data is off-chain and preferably in the Privy datastore. He told the ETH Denver audience, “We’re at a crossroads for user privacy. The next few years are going to be really important in deciding how we build these products and what happens to user data as we get richer experiences in the space.”

Privy Privacy Spectrum

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