AI is a Major Threat to Bitcoin Anonymity – Edward Snowden

At the recent Bitcoin Conference in Nashville, privacy advocate Edward Snowden warned about Bitcoin’s privacy flaws and the looming threats posed by AI advancements.

Speaking virtually on July 26, Snowden cautioned that AI could soon analyze blockchain transactions, compromising the privacy of crypto users globally.

Snowden highlighted that Bitcoin transactions aren’t as anonymous as many believe, as they can be traced back to individuals through regulated exchanges. This traceability can reveal personal details and affiliations, putting users’ privacy at risk.

He emphasized that the implications extend beyond Bitcoin, suggesting that governments and corporations might use AI to create detailed profiles of individuals. He predicted that within 5-10 years, big data could leverage blockchain to monitor nearly every aspect of our lives, leading to predictive behavioral models.

Snowden called for urgent measures to secure Bitcoin transactions and protect user privacy, warning that ignoring these issues could have severe consequences. He noted the increasing scrutiny from governments worldwide on privacy-focused blockchains, including the US government’s actions against protocols like Tornado Cash.

In closing, Snowden advised the crypto community to be cautious of politicians seeking their support, urging them not to align too closely with any political figure. He emphasized the importance of maintaining independence and prioritizing the community’s interests over political agendas.