By now we understand, the blockchain is a public ledger. So it’s a ledger that everybody can look at, if they know how.<\/p>\n
So it’s a list of who owns what. Even if pseudonymous as Bitcoin, with a KYC within the network, I can know that my neighbor has a significant amount of money or not.<\/p>\n
With normal bank accounts this does not happen, we do not know how much our precendent neighbor owns unless he tells us himself or someone lets us know. Not to mention possible hacks of the bank’s databases, which should not happen.<\/p>\n
Let us start with a basic principle, it is not smart to tell to everybody about our possessions. Whether you are talking about cryptocurrencies or fiat currency accounts. My preference is to always be on a low profile, without flaunting one’s possibilities even if they are limited. The personal safety factor should always be understood and considered. There are times and places to flaunt one’s favorite Rolex.<\/p>\n
The blockchain, unfortunately, as it was conceived and created, has a big privacy problem, which in the coming years will absolutely have to be addressed and solved.<\/p>\n