#隐私技术发展 Looking back on the development of privacy technologies over the years, I can’t help but feel a surge of emotions. From the initial simple encryption to today’s zero-knowledge proofs, every step has been difficult yet determined. However, seeing the news about Argentine President Milei being involved in the LIBRA scam is inevitably disappointing.

Incidents like this are not uncommon in the history of cryptocurrency development. As early as the ICO boom in 2017, we witnessed countless projects appear out of nowhere and collapse in an instant. Back then, many people held overly optimistic attitudes toward blockchain technology, while overlooking the potential risks.

Now, even a president can hardly resist the temptation of cryptocurrencies, which undoubtedly casts a shadow over the entire industry. The figure of 114,410 investors suffering losses is heartbreaking. What’s even more concerning is that this could undermine people’s confidence in blockchain technology.

Looking back at history, it’s not hard to see that every major technological breakthrough has been accompanied by fraud and bubbles—the internet bubble, the rise and fall of P2P lending, and so on. Blockchain, as a disruptive technology, is no exception.

But we cannot deny the value of blockchain technology because of this. On the contrary, these lessons should prompt us to be more cautious, improve regulatory systems, and raise investors’ risk awareness. The development of privacy technologies should also move toward greater transparency and auditability, in order to balance privacy protection and regulatory needs.

Looking to the future, I believe that after weathering these storms, the blockchain industry will eventually see sunshine. But the premise is that we must learn from history, continuously improve the technology, and build a sound ecosystem. Only then can blockchain truly unleash its revolutionary potential and bring positive change to the world.