Eran Barak, CEO of Midnight, a privacy sidechain for Cardano, emphasizes the importance of balancing privacy and transparency in blockchain technology. The inherent transparency of blockchain hinders its adoption, especially in sensitive areas like business and health. Barak illustrates this with examples of on-chain medical records that can inadvertently expose personal health information. Furthermore, he highlights the risks of blockchain metadata, which can allow threat actors to gather insights about individuals. The rise of AI exacerbates these risks, as AI can use available data to make accurate predictions about individuals' behavior. Paul Brody from EY supports this view, stating that businesses need privacy to protect sensitive data from competitors and potential market disruptions. Avidan Abitbol of the Data Ownership Protocol and David Holtzman, a former intelligence expert, also stress the essential role of decentralized information systems to secure privacy in the evolving AI landscape. They argue for solutions that protect data while ensuring transparency to foster trust and adoption in blockchain technologies.

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