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- From Big Tech to Blockchain Privacy: Iron Fish Founder Reveals Why Privacy Matters
From Big Tech to Blockchain Privacy: Iron Fish Founder Reveals Why Privacy Matters
A Conversation with Elena Nadolinski, Co-Founder of Iron Fish
Privacy is indeed a significant topic of conversation, especially with advancements in technology posing a threat to the privacy of individuals in our society today. While some may argue that privacy is slowly fading away, certain sectors and individuals are fighting for its preservation.
One of the platforms at the forefront of this agenda is Iron Fish, a crypto startup that believes privacy is an essential part of our future. Elena Nadolinski, the founder of Iron Fish, recently featured on our podcast where she discussed the importance of privacy in our current world, the realities of setting up a crypto company, and the vision behind Iron Fish.
Conception of Iron Fish
When Iron Fish was conceived back in 2018, Elena Nadolinski and her team approached it from a point of wanting to bring privacy to crypto. They understood the importance of privacy, especially with an increasing trend of surveillance in society.
The process was not linear; it involved months of research where the team explored existing privacy techniques used for public blockchains and potential implementation strategies. The team encountered an array of privacy-focused projects like Grin, Monero, and Aztec, but they observed certain limitations and usability issues. This led to their decision to construct a completely new blockchain that supported only private transactions.
The Pull for Privacy
One key question they faced was whether to build a privacy protocol for an existing chain or create a new chain from scratch. According to Elena, creating a privacy solution on an existing chain that primarily supports transparency is arduous, if not impossible. This is primarily because the actions taken by any user on the chains are visible to all—disclosing one’s privacy.
This gave rise to Iron Fish, a platform aimed at striking a balance. Iron Fish anchors itself on the principle of providing private transactions for regular individuals without distinctly catering to malicious users. The team is committed to building a platform that prevents misuse while furthering the cause of privacy.
The Future of Privacy in Crypto
The vision for Iron Fish is bulletproof. Elena points out that while there are privacy protocols that predate Iron Fish, it was their unique vision for the world that drove them to build Iron Fish. With an increasing demand for privacy in crypto, it has become pivotal for platforms like Iron Fish to achieve a balance that is regulatory friendly, offers usability to users from multiple chains, and adequately provides value to existing crypto users.
As for the roadmap ahead, Elena shares that Iron Fish is working intensively to incorporate its cross-chain communication layer to facilitate Ethereum users to transfer their assets. They are also working on optimizing their networking layer and are in the process of redesigning their node application to enhance user experience.
These times marked by digital behavior call for renewed conversations around privacy, transparency, and the infrastructures that can promote these. Platforms like Iron Fish are working towards creating a future where privacy is not just preserved but also championed.
The privacy movement may have an uphill journey due to commonly held misconceptions about privacy being essentially linked to illicit activities. With projects like Iron Fish paving the way for a privacy-focused future, it is essential to spread the message that privacy is not only a right but also a pillar upon which a free society is built. The fight for privacy is a fight for the freedom to exist and interact without constant surveillance.
Do you think regulators will be able to accept the use of privacy protocols for non-malicious use-cases?