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Balaji Srinivasan Outlines the Dawn of the Global Privacy Era
Balaji Srinivasan, the former CTO of Coinbase and influential author of The Network State, has declared that the cryptocurrency industry is transitioning into its third and most critical phase: the era of global privacy. Speaking at major industry events in late 2025, Srinivasan outlined a historical framework that categorizes the development of the digital asset space into three distinct eight-year cycles. The first phase, spanning from 2009 to 2017, was dedicated to proving the viability of Bitcoin and decentralized consensus. This was followed by the second phase from 2017 to 2025, which focused on the rise of ... (full story)
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From substack.com | Dec 28, 2025
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