Former Monero Lead Maintainer Talks on CBDCs & Privacy

• Australia are now demanding customers to provide detailed invoices about the use of their funds as a condition for honouring transactions.
• Riccardo Spagni recently spoke on the state of privacy in the context of many problems that have come up over the past few months.

Over the past 30 years, we have seen many advancements in technology. This includes things that are day-to-day uses such as smartphones, computers and of course, cryptocurrency.

In a recently surfaced report, it indicates that banks in Australia are now demanding customers to provide detailed invoices about the use of their funds as a condition for honouring transactions. This is just another example of how individual privacy has been affected on a day-to-day basis. With the advancement of technology such as Crypto Trackers, cryptocurrency and the Internet, privacy is a worry that impacts many people regularly.

Speaking in a recent interview, Riccardo Spagni, former lead maintainer of Monero recently spoke on the state of privacy in the context of many problems that have come up over the past few months. Spagni mentioned the issue of cryptocurrency and the rise of central-bank digital currencies is what they might mean for privacy. Given that Monero is a privacy coin, it’s safe to say that Spagni knows what he’s talking about.

“We’ve already fought and largely lost in Australia, where regulators in Australia have made a case for backdoor and corruption[…] I think fighting against so-called responsible and corruption is a fight worth fighting. And, privacy coins, I do not think even feature on the radar of those regulators.” 

Spagni further went on to highlight the cryptocurrency protocol and said the privacy coin is surviving simply due to apathy. This was before he claimed that people, in the end, don’t care enough about privacy.

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