Secret Tokens: Programmable Privacy for DeFi

3 months ago 104

"Thanks to smart contract composability, the possibilities for DeFi appear endless, “compounding” on an almost daily basis. Why not make your ETH work for you by locking it on Maker to get Dai in return, then lending that Dai to earn interest on Compound, all while earning COMP tokens that can be used for governance, or sold for an additional gain? Even with all its recent growth, we’ve only scratched the surface of what’s possible with decentralized finance.

However, we are currently well short of achieving the actual promise of decentralized finance and open economies. Unfortunately, DeFi has inherited the same shortcoming of all blockchains - there is no privacy for users, and data is public by default. DeFi cannot hope to eventually reach mass adoption as a complex and complete open financial system if financial privacy must be sacrificed."

Computational privacy is one of the missing puzzle pieces to get enterprises on board. The Secret Network (part of the Cosmos Ecosystem) is an integral part of resolving this problem imo.

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