Bankless The Holy Grail of Crypto Privacy: Encrypted Ethereum, FHE & Living Forever | Rand Hindi, Zama Co-Founder
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Dec 1, 2025 
Rand Hindi, co-founder of Zama, is a privacy-focused entrepreneur blending encryption and blockchain. He discusses how fully homomorphic encryption (FHE) can transform Ethereum into a confidential platform, tackling the challenges of public blockchains. Rand explains the superiority of FHE over other cryptographic methods like ZK and MPC for ensuring security and usability. He also explores potential scenarios for private decentralized finance and digital immortality, while sharing insights from his work in AI and bioinformatics.
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Anonymous Addresses Were Never Enough
- Rand describes anonymous addresses as an insufficient privacy myth exposed by analytics like Arkham.
- He argues banks won't adopt on-chain stablecoins unless balances and transactions are confidential.
Defend Against Government Coercion
- To resist nation-state coercion, operators should be geographically distributed and run inside hardware enclaves.
- Threshold MPC plus enclave protections raise cost and coordination required for forced decryption.
Build Programmable Compliance Into Apps
- Let token issuers and dApp developers decide compliance rules by programming access controls into confidential contracts.
- Provide tools so applications can implement on-chain programmable compliance for KYC/OFAC needs.