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27 sats \ 3 replies \ @tolot 18 May \ parent \ on: Cashu: This will allow integrating Ecash into existing KYC/AML infrastructure bitcoin
This is not the point, sorry. Ecash is a technology to improve tremendously custodianships, thus KYC is only a matter of time. Also fiat shitcoins have some ecash projects out there, that are LESS privacy oriented. Therefore the adoption of Cashu in a fiat shitcoin environment is still better than the current system and the goal of Cashu has always been to improve privacy with custodians.
I cannot see an issue with this protocol extension...this will not be enforced by default, it's simply a feature for mints that want to use it because of regulatory needs.
So what is not entirely clear to me, what does this protocol change involve?
- Just support for a general authentication mechanism, like e.g. we have basic auth in the http protocol? Or
- more general functionality to perform kyc / aml procedures at the protocl level?
Case 1. sounds ok to me, there can always be a reason for a mint to want to restrict access only to certain users. Case 2 would go little bit too far for me, even if exchanges demand it, it still doesn't mean that a privacy activist should comply proactively and add support for this at the protocol level, even if its optional.