Anonymity will create a trust deficit in Bitcoin as a viable investment option and a value storing digital currency. The only reason why there is so much confidence in the market for Bitcoin is that all the transactions are available in the public domain in real time. This is why people have trust in Bitcoin. We all know that Bitcoin is based on the highly secured, sophisticated and advanced Blockchain Technology. As every transaction on the block needs approval from various sources on the network, it makes Bitcoin trading a transparent and accountable process. Therefore, to do away with the 'public character' of Bitcoin and bringing in anonymity will compromise with its security feature and further create suspicion in the public's eyes. And most importantly, adding anonymity will also facilitate terror-funding, illegal transactions, and black money laundering, etc. Hence, it is extremely important that Bitcoin should retain its essential character as a highly secured, transparent and accountable value storing virtual commodity rather than becoming a dangerous instrument in the hands of a few mischief-mongers willing to commit financial crimes if anonymity is granted to it.
Further, such kind of a scenario will compel many Governments world over to impose a ban on Bitcoin and its use.
Further, such kind of a scenario will compel many Governments world over to impose a ban on Bitcoin and its use.
