The blockchain industry will soon have to give more attention to privacy concerns. And researchers are finding ways to create flexible anonymity for blockchain-based payments.

Ripple Insights points to UBRI conclusions which state that while the decentralized nature of blockchain is extremely difficult to hack that the digital asserts and the wallets which is built on the technology are not secure all the time.  They are vulnerable to security issues.

There are many people who like technologies which provide for anonymity Bitcoin.

Stefanie Roos, Delft University of Technology stated, “Because you don’t have to enter your real name, people believe that Bitcoin is very privacy preserving, but when someone keeps reusing the same information, it’s possible to track everything they do. If you can link that profile to a real person then you can see all their activity.”

Of note, Stefanie developed SpeedyMurmurs, a peer-to-peer system, which takes a path-based transaction approach similar to Bitcoin’s Lightning Network.

Temporal anonymity, where users get the privacy they need it just at the time when they need it and later they can permit transparency using relevant cryptographic keys is considered to be a reliable idea.

Stefanie’s students are looking to improve anonymity on the XRP ledger as part of Ripple’s University Blockchain Research Initiative (UBRI), which is aided by UBRI grants.

Reportedly, one student is looking at the Ledger’s consensus algorithms and another is working on a new method of testing for security vulnerabilities when a theoretical blockchain model gets translated to code on complicated and large scale projects.

For those who missed, Ripple are piloting a new, private version of the public, open-source XRP ledger. This private ledger provides Central Banks with a secure, controlled and flexible solution to create and manage digital currencies.

Meanwhile, Brad Garlinghouse pointed to how: Last year, Ripple and he sued YouTube for failing to enforce its own policies by allowing fake accounts (impersonating my/Ripple’s verified accounts) to conduct XRP giveaway scams. We’ve now come to a resolution to work together to prevent, detect and take down these scams.

He further stated that Social platforms are starting to acknowledge their role in allowing crypto scams to persist and recognize the need to be part of the solution. Some like XRP Forensics, are helping detect/track stolen funds, but platforms need to lead the charge or it’s still just whack-a-mole.

He concluded stating, While specific settlement terms are confidential here, it’s clear to all that without accountability and action, trust erodes in this industry, at a crucial time when govts around the world are looking closely at crypto.