SERO co-founder Bao Zheng: Balancing the privacy and regulatory requirements of anonymous currency with an auditable solution that is owned by the user

On the afternoon of June 27th, SERO co-founder and co-founder of GLAB geek organization made a guest chain node AMA. He said that Angin, such as Grin, Dash, Monero, and Zcash, use different encryption principles. In essence, they do not support their smart contracts. Therefore, they are only an anonymous currency, and their applications can only be limited to the payment field. . The SERO combines zero-knowledge proof to implement a public chain that supports smart contracts, and can support everyone to issue their own private assets, so there are more application scenarios. He also pointed out that the nature of the decentralization of the blockchain is inherently contradictory to the centralized management of the state. In order to balance the requirements of privacy and regulation, an auditable scheme with user autonomy can be used, "commonly speaking, With the user's consent, the user-generated TK (TraceKey) is voluntarily subject to audit by the regulatory authority, and the audit department can read the transaction record of the user."