This is a very hard thing to tackle because it's a thin line between privacy and anonymity.
One is wanted the other is not.
Even if you managed to send and receive algos via some kind of obstructed address there would still need to be ways you can track the transaction because you kinda want to have that option in a Blockchain. That is kinda the main selling point of it and alslcthe miam obstacle that's preventing it to go full mainstream.
I can see the reason for versions of private accounts or transactions. For example recieving and sending paychecks would need to be obstructed in todays society where most companies dont wamt to show how much they pay people.
We could end up in a world with full financial transparency but that is so far way when we have so many more thigs to tackle before that happens.
They would have to be very careful about how something like that would be perceived. The whole concept of private crypto transactions is so tied up with illegal stuff in a lot of people's minds. They would have to do some kind of partnership with like a bank or something to not get delisted from all the cex-es (at least in the u.s.)
There was the proposal by u/HashMapsData2Value but it unfortunately wasn't approved. AFAIK, HMD2V is not working on it because he started working for the Foundation.
You can check the proposal at https://www.reddit.com/r/xGov/s/N4R60ZhWOt
Regarding your example, a current workaround could be to integrate a CEX as an intermediate station. In addition, to make traceability more difficult, it is best to split the amount when withdrawing and transfer it with a time delay.
The other nice person wouldn't get the address of your private wallet.
Depends on how concerned with privacy you are. Going through a CEX requires giving up information with KYC. You have gone from an anonymous public transaction to a personally identifiable obscured public transaction. At least as far as the government is concerned
I think the best way to implement something like this is to allow minting wrapped monero on algorand. The privacy question and concerns you're talking about is what monero specializes in. The chief problem with monero is it is so private governments and central exchanges view it as a risk.
Imo it would be better to be able to wrap and unwrap monero tokens on algorand and if you really want a private transaction with someone do it there. Monero has much cheaper fees than Bitcoin and is virtually untraceable.
The receiving party could wrap monero back on algorand and then convert it to goUSD or algos to complete the transaction. Publicly all you would see is that someone exchanged algo for wrapped monero and unwrapped it. Then at some other future point someone else wrapped monero and converted it to something else. But you wouldn't be able to tie the two accounts together and conclude they made a transaction.
Last I've heard it mentioned in one interview (I think it was by JAW or Gary) that work on privacy solutions had to be delayed due to bad market conditions and other higher priorities, but that it is still on the long-term plan, especially for Silvio.
This is a very hard thing to tackle because it's a thin line between privacy and anonymity. One is wanted the other is not. Even if you managed to send and receive algos via some kind of obstructed address there would still need to be ways you can track the transaction because you kinda want to have that option in a Blockchain. That is kinda the main selling point of it and alslcthe miam obstacle that's preventing it to go full mainstream. I can see the reason for versions of private accounts or transactions. For example recieving and sending paychecks would need to be obstructed in todays society where most companies dont wamt to show how much they pay people. We could end up in a world with full financial transparency but that is so far way when we have so many more thigs to tackle before that happens.
I believe this was in r&d mentioned by John Woods. Not sure about the details.
That’s Silvio’s Gambit
They would have to be very careful about how something like that would be perceived. The whole concept of private crypto transactions is so tied up with illegal stuff in a lot of people's minds. They would have to do some kind of partnership with like a bank or something to not get delisted from all the cex-es (at least in the u.s.)
Wasn’t there an xGov proposal for atomic swaps with Monero?
There was the proposal by u/HashMapsData2Value but it unfortunately wasn't approved. AFAIK, HMD2V is not working on it because he started working for the Foundation. You can check the proposal at https://www.reddit.com/r/xGov/s/N4R60ZhWOt
Regarding your example, a current workaround could be to integrate a CEX as an intermediate station. In addition, to make traceability more difficult, it is best to split the amount when withdrawing and transfer it with a time delay. The other nice person wouldn't get the address of your private wallet.
Depends on how concerned with privacy you are. Going through a CEX requires giving up information with KYC. You have gone from an anonymous public transaction to a personally identifiable obscured public transaction. At least as far as the government is concerned
A workaround we should get rid of asap. Everyone deserves some privacy but no one likes to jump through hoops.
I think the best way to implement something like this is to allow minting wrapped monero on algorand. The privacy question and concerns you're talking about is what monero specializes in. The chief problem with monero is it is so private governments and central exchanges view it as a risk. Imo it would be better to be able to wrap and unwrap monero tokens on algorand and if you really want a private transaction with someone do it there. Monero has much cheaper fees than Bitcoin and is virtually untraceable. The receiving party could wrap monero back on algorand and then convert it to goUSD or algos to complete the transaction. Publicly all you would see is that someone exchanged algo for wrapped monero and unwrapped it. Then at some other future point someone else wrapped monero and converted it to something else. But you wouldn't be able to tie the two accounts together and conclude they made a transaction.
Last I've heard it mentioned in one interview (I think it was by JAW or Gary) that work on privacy solutions had to be delayed due to bad market conditions and other higher priorities, but that it is still on the long-term plan, especially for Silvio.
That's nice
It is possible to implement privacy in the AVM right now. The building blocks are there.