KuCoin CEO Believes Bitcoin Was Not Created for Privacy Purposes
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Johnny Lyu, CEO of Kucoin, has expressed the opinion that privacy is not the primary focus of the first cryptocurrency in an interview.
He has noted that the main advantage of digital gold is its usage as a medium of exchange to hedge against economic risks.
Lyu has reminded that Bitcoin was born after the 2008 crisis, caused by the collapse of the subprime mortgage market in the US.
Additionally, the head of the exchange has commented that new user verification rules bring more benefits than threats on user information security, also providing users with two levels of protection for their assets.
The first is for ownership assurance while the second is for tracking in case of theft.
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