Yesterday I was talking to a friend of mine, who happens to be a data privacy lawyer, about Mina Protocol. As we had had many discussions on MP being a very good investment option, he already knew a lot about the Protocol’s value within the crypto universe. But strangely enough, he had no idea how big of an impact zero-knowledge proof technology was about to have on data privacy laws and regulations.
He didn’t realise it maybe because Mina’s main selling argument used to be the Protocol being “the lightest blockchain” with its 22 kb size. The problem with that discourse is it meant almost nothing to people who aren’t somehow related to the blockchain technology. Mina Protocol’s ZK proof technology, however, has the potential to affect everyone’s life regardless of their interest in the blockchain technology and the cryptocurrency markets.
In my opinion, it’s an important point not to be missed. Unlike many other blockchain projects, Mina Protocol’s impact area is not limited to “decentralising finance”. This is a huge competitive advantage and must be emphasised strongly. When Mina Protocol is up and fully ready with all its snapps, it will change the way we interact with the internet completely. It will definitely force law-makers around the world to update (if not to change completely) their data privacy laws in accordance with this novelty.
My friend, for example, realised how big of a revolution it is and decided to write a paper on this topic, after our discussion. There will be many more like him. This, in my opinion, is a great sale argument for Mina Protocol. I am aware that the marketing strategy of MP has shifted from being fully focused at “the lightest blockchain” to a more diverse method which includes zk proof technology’s use cases. This is great. However, there might be a lot more we could do to attract attention to the Protocol.
Data privacy is one of the most popular legal topics of our time and the lawyers working in this area would be very interested in MP should we let them hear about it. Then it could lead to a faster and bigger adoption among non-crypto people.
As I mentioned above, MP’s only selling point is not decentralising finance. In fact, shifting the data privacy paradigm is the most valuable use case MP has, and it would be wise to point our fingers towards that fact.