Firo Private Transactions & Balancing with MICA regulations

Plan B should be developed and some information should be shared by the stock exchanges when requested.

We have implemented this and will be going live together with Spark.

Thanks everyone for your feedback!

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In my opinion, the coin currently operates a transparent layer and I believe having this layer is a great thing. It gives the user the choice of whether they want to conduct a private transaction or hold their funds anonymously or not.

In the real world when you pay for goods with cash which as we know is a not traceable at all, when you make a transaction it is not truly 100% private. The cashier can see the amount of cash you are carrying and you can see how much cash the cashier has in their till, however they can’t see how much you truly have in your safe etc.

User choice is always a great thing. The users of firo who want every transaction they make to be private can continue doing so by using the anonymous layer, interacting with DEX etc. This will have no impact on them at all as there is a transparent layer already in existence on firo and the mechanisms are already in place on anonymity.

Creating a separate address type for centralised exchanges is the best way to go as it will disable the ability to send a private transaction to a centralised exchange thus preventing the problem, while maintaining the choice of what each firo user decides to do with his or her coins.

User choice is something I believe the project should embrace. Being able to comply with MiCa regulations while maintaining user privacy of those with also help soothe investor hesitancy. People must remember, using DEX for some users in its current format requires a level of tech-savviness, which all users may not have and may exclude the majority of the user base.

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Wouldn’t be good to deploy and bring some liquidity to a major Ethereum DEX ?
To only have a Binance tokenised version of Firo could be a danger in a near future …

Ethereum/Arbitrum/Optimism/Avalanche(which will be one of Blackrock “launchpad” in crypto)

Secondly, i think Firo is deserving listings in Major CEXes as Kraken, Coinbase…
(Which transparency preserving adresses implementation could help to)
Liquidity is probably the most important thing to funds your developments for the future :wink:

Hi everyone, as mentioned before, this thread will be closed as the feedback has been received and implemented. Feel free to open a new thread if you wish to open new discussions regarding this.