Binance founder Changpeng Zhao has argued that privacy is the most significant unresolved challenge facing crypto, and that the industry needs to move faster to address it.

Speaking on the All-In Podcast with venture capitalist and Social Capital CEO Chamath Palihapitiya last week, CZ said most digital assets fall short on privacy protections, leaving users exposed in ways that cash never would.

“I think privacy plays a very fundamental role in our society,” CZ said. “But right now, I also think that Bitcoin and most cryptocurrencies do not have enough privacy features.”

“When Bitcoin was designed, it was going to be pseudo-anonymous,” he added, noting that, “the fact is, every transaction on the blockchain can be traced,…