BlockBeats News, February 14 — Grayscale Chief Legal Officer Craig Salm stated at the Consensus Hong Kong Conference:
"If you have business needs and want to pay large sums to suppliers but don’t want other companies or competitors to see, which could expose your business information, you would want this transaction to remain private.
Paying with Bitcoin may not achieve this because the blockchain is transparent. We’ve seen on platforms like X that there are accounts dedicated to tracking on-chain transactions. So you can imagine scenarios where this need exists.
Privacy-focused tokens like Zcash are particularly interesting because of ‘selective disclosure.’ You can choose to disclose information to specific parties—for example, proving to the tax authorities that you’ve paid your taxes correctly—while maintaining privacy in everyday business or personal transactions.
Therefore, we believe this is a very interesting form of currency. We already have a substantial Zcash trust and are working on converting it into an ETF, just as we have done with several other products."
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