In Web3, ZK has emerged as a transformative way to enhance privacy as it enables untrusted parties to validate that a transaction has occurred without sharing any information about the transaction. Decentralized applications can exercise selective disclosure by choosing between putting data onchain (full disclosure), putting it onchain with encryption (disclosure via viewing keys) or using ZK to only publish attestation about the data (offering utility without any disclosure).
The next privacy frontierMetadata, the information surrounding our data, is an under-discussed component of blockchain’s exposure of sensitive information; it can be used to make inferences, creating an added layer of vulnerability even when the data itself is concealed. For example, through transaction metadata, investment and trading strategies can be inferred in addition to other behavioral patterns.
Blockchain data protection capabilities should not undermine established cross-jurisdictional laws safeguarding the global community from terrorism, human trafficking, fraud and other criminal offenses. This begs the question: What does privacy, done right, look like?
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