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Multiparty computation: The Trojan Horse of crypto regulation

Cryptocurrency Nov 22, 2020 05:20AM ET
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Multiparty computation: The Trojan Horse of crypto regulation

Every once in a while, the crypto community crowns a new king for secure transactions, and the latest king seems to be multiparty computation, or MPC. This year, MPC adoption by custodial and noncustodial players has progressed and gained market traction at a rapid pace.

However, it could come at a price. MPC providers offer regulators a backdoor into cryptocurrency transactions. As the industry becomes more reliant on MPC for security, it could end up compromising on the long-held principles of decentralization and censorship-resistance.

Asaf Naim is the CEO of Kirobo, which develops a logic layer into the blockchain that protects users from human error. He first discovered crypto in 2013 and was hooked. He believes in the future of digital currencies and is an ardent supporter of the concept of network decentralization. Asaf is an accountant with a master’s degree and has over 15 years of experience in fintech as well as expertise in blockchain and cryptocurrencies, startup development, online banking, and technological solutions and products.

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Multiparty computation: The Trojan Horse of crypto regulation
 

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