The reasons for the popularity of using cryptocurrencies anonymously can be found in their origins. Initially, the industry attracted a specific circle of people: programmers, people involved in cybersecurity, etc. The culture of anonymity is widespread among them, which, apart from everything else, ensures a proper level of safety on the Internet and relieves them from unwanted attention from law-enforcement agencies. We should remember that at the beginning, large crypto holders’ lives were in real danger due to the lack of regulations and the possibility of protecting their money from criminals with the help of legal authorities. 

This atmosphere also appealed to various kinds of crypto dealers and anarchists — privacy advocates who oppose government control of their citizens’ lives. For example, the user named James A. Donald, famous for being one of the first White Pepper Bitcoin reviewers, is worth mentioning. His real name remains unknown, and many refer to him as the creator of Bitcoin, Satoshi Nakamoto, but he denies it.

Moreover, anonymity is a great way to keep a distance from the project. The cryptocurrency industry is largely built on the idea of universal equality and decentralization, meaning that there are no people who can benefit from opportunities to influence important decisions. Obviously, this possibility is still present in most DAOs and while the autonomy of these organizations is no more than a myth, we need to understand that these are the rules of the game.

However, if developers want to attract the attention of venture capitalists and other industry representatives who determine the company’s success, they have to sacrifice anonymity. This is just like in Silicon Valley, where bright personalities involved in development can play a big role. However, it’s worth considering the fact that if they’re compromised or quit the project, they might find themselves in a heap of trouble. Andre Cronje’s recent decision to leave DeFi and stop working on 25 projects, including many industry landmarks, immediately comes to mind. As a result, the services’ tokens began to lose value, and some had to announce their closure.

#Cryptocurrency #DAO #DeFi