What Is Web3 Good For?
The current financial system works just fine for criminals, but poorly for millions of others around the world, including dissidents in closed societies. By thoughtfully harnessing new blockchain-based tools, we could finally start to eliminate the old tradeoff between financial privacy and security.
WASHINGTON, DC – The US Department of the Treasury’s Office of Foreign Assets Control recently sanctioned a technology called Tornado Cash, on the grounds that it “has been used to launder more than $7 billion worth of virtual currency since its creation in 2019.”