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Author Topic: Exploring Blockchain Transparency  (Read 24 times)
elementus
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July 08, 2018, 07:37:47 PM
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One of the most appealing aspects of block chain technology is the degree of privacy that it can provide. However, this leads to some confusion about how privacy and transparency can effectively coexist. On a block chain, the identity of a user is concealed behind serious cryptography, meaning that linking public addresses to individual users can sometime be difficult to achieve. This raises questions about how block chains can be regarded as truly transparent.

The transparency of a block chains stems from the fact that the balances and transactions of each address are open to viewing. Using an explorer, and equipped with a user’s public address, it is possible to view their transactions that they have carried out. This level of transparency has not existed within financial systems before, especially in regards to large businesses, and adds a degree of accountability that has not existed to date. In the past, large financial institutions were able to use their customers funds as they saw fit, without anyone's knowledge.

Do you think block chain technology can effectively address this transparency issue, given its pseudo-anonymous nature?
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Anycoin Direct Support
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July 09, 2018, 02:42:56 PM
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Hello elementus,

First we would like to help you understand that blockchain technology is not synonymous with cryptocurrencies even though the two are closely related. A blockchain can be set up in such a way that users would have to register and have zero anonymity. Please check out the tutorial offered by IBM on the following website. This will provide you with some insight on how the blockchain can be used in a real life business cases.

As you will learn in the tutorial, cryptocurrencies and the blockchain are closely related but the two paths have diverged. All the factors you have described can be adapted and customized per blockchain. For example if the government wanted they could also have centrally controlled nodes validating all transactions on the blockchain. To focus your question of transparency on cryptocurrencies we suggest you check out the following website. This concept could help legitimize transactions to a certain extent and help people see how legitimate their transactions are.

We hope this info will help you gain some more insight on the issue.

With kind regards,

The Anycoin Direct team

Helping the crypto-community. Anycoin Direct
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July 09, 2018, 02:48:33 PM
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One of the most appealing aspects of block chain technology is the degree of privacy that it can provide. However, this leads to some confusion about how privacy and transparency can effectively coexist. On a block chain, the identity of a user is concealed behind serious cryptography, meaning that linking public addresses to individual users can sometime be difficult to achieve. This raises questions about how block chains can be regarded as truly transparent.

The transparency of a block chains stems from the fact that the balances and transactions of each address are open to viewing. Using an explorer, and equipped with a user’s public address, it is possible to view their transactions that they have carried out. This level of transparency has not existed within financial systems before, especially in regards to large businesses, and adds a degree of accountability that has not existed to date. In the past, large financial institutions were able to use their customers funds as they saw fit, without anyone's knowledge.

Do you think block chain technology can effectively address this transparency issue, given its pseudo-anonymous nature?
This can only mean that in this world nothing is perfect. The block chain can provide anonimity but is also a problem for transparency if someone want to look for details they could not expect such in the block chain technology. So privacy is not an issue but for those people such as in the government who wants to look over details in a certain transaction it could serve as a big problem to them.
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July 09, 2018, 03:12:06 PM
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One of the most appealing aspects of block chain technology is the degree of privacy that it can provide. However, this leads to some confusion about how privacy and transparency can effectively coexist. On a block chain, the identity of a user is concealed behind serious cryptography, meaning that linking public addresses to individual users can sometime be difficult to achieve. This raises questions about how block chains can be regarded as truly transparent.

The transparency of a block chains stems from the fact that the balances and transactions of each address are open to viewing. Using an explorer, and equipped with a user’s public address, it is possible to view their transactions that they have carried out. This level of transparency has not existed within financial systems before, especially in regards to large businesses, and adds a degree of accountability that has not existed to date. In the past, large financial institutions were able to use their customers funds as they saw fit, without anyone's knowledge.

Do you think block chain technology can effectively address this transparency issue, given its pseudo-anonymous nature?

I think you have a clear understand the difference between both of these features of the blockhain, and I do believe that they are quite "tricky", because transparency can easily "kill" privacy. Let's say NSA or any other agency like this manages to label an address to a particular user. They will then be able to access all his transactions, completely killing his privacy. Blockhain should be able to promote both things, but I guess it would be possible to compromise privacy because of transparency.
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July 09, 2018, 03:18:15 PM
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One of the most appealing aspects of block chain technology is the degree of privacy that it can provide. However, this leads to some confusion about how privacy and transparency can effectively coexist. On a block chain, the identity of a user is concealed behind serious cryptography, meaning that linking public addresses to individual users can sometime be difficult to achieve. This raises questions about how block chains can be regarded as truly transparent.

The transparency of a block chains stems from the fact that the balances and transactions of each address are open to viewing. Using an explorer, and equipped with a user’s public address, it is possible to view their transactions that they have carried out. This level of transparency has not existed within financial systems before, especially in regards to large businesses, and adds a degree of accountability that has not existed to date. In the past, large financial institutions were able to use their customers funds as they saw fit, without anyone's knowledge.

Do you think block chain technology can effectively address this transparency issue, given its pseudo-anonymous nature?
I dont think so, blockchain technology is not their to function as to address transparency issue it is their to record the transactions ever made.
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