Stablecoin Adoption by Amazon and Walmart May Raise Privacy and Data Exposure Concerns

Key Points

1. Amazon and Walmart's interest in issuing dollar-backed stablecoins marks a pivotal moment in blockchain finance.

2. Stablecoins on public blockchains expose transactions to surveillance, profiling, and identity theft risks.

3. Privacy is often overlooked in stablecoin discussions, which may hinder mass adoption.

4. Regulation like the GENIUS Act focuses on asset backing and anti-money laundering but lacks privacy solutions like zero-knowledge proofs.

5. Advanced cryptographic methods, such as zero-knowledge proofs, can enable selective disclosure and shielded balances to address privacy concerns.