Changpeng Zhao (CZ), co‑founder of the global exchange Binance, warned that insufficient privacy on blockchain networks remains a major barrier to widespread adoption of crypto payments.

The same holds for the transparency of onchain transactions, the executive said, making it challenging for businesses and institutions to comfortably use cryptocurrencies as routine payment options for salaries, suppliers, and other expenses.

The idea behind Bitcoin and Ethereum is transparency. The transactions are recorded in a public ledger accessible to everyone, though wallet addresses can’t be directly linked to names; they are often traceable and can be connected to individuals or companies over time.

This openness, CZ argues, poses…