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The Holy Grail of Crypto Privacy: Encrypted Ethereum, FHE & Living Forever | Rand Hindi, Zama Co-Founder

01 Dec 2025

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Ethereum is transparent by design, and that’s a problem if you don’t want your entire financial life on display. Rand Hindi, co-founder of Zama, joins us to explain how fully homomorphic encryption (FHE) can turn Ethereum into an encrypted, confidential blockchain where contracts stay composable and UX feels exactly the same. We get into why blockchains were public in the first place, why “anonymous addresses” were never enough, how FHE compares to ZK and MPC, and what a world of private DeFi, encrypted stablecoins, and on-chain “digital immortality” could look like. ------ 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium ------ BANKLESS SPONSOR TOOLS: 🔵COINBASE | ETH & BTC BACKED LOANS https://bankless.cc/coinbase-borrow 🪙FRAXNET | MINT, REDEEM, & EARN https://bankless.cc/fraxnet 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR L2 NETWORK https://bankless.cc/Mantle 💤EIGHT SLEEP | IMPROVE YOUR SLEEP https://bankless.cc/eight-sleep ------ TIMESTAMPS 0:00 Intro 0:24 Why Are Blockchains Public? 9:11 Privacy vs Confidentiality 11:13 Zama: Privacy on Ethereum 15:05 Fully Homomorphic Encryption (FHE) 19:34 Multi-Party Computation (MPC) 23:50 FHE vs ZK 37:25 FHE Critiques 40:08 Nation State Attacks 45:58 Combining ZK & FHE 49:20 Privacy Season 51:39 Compliance 1:00:18 Zama 1:04:03 Confidential Tokens 1:08:12 How it Works 1:11:30 Zama Token & Protocol 1:14:09 Privacy Competitors 1:17:36 Fhenix 1:19:46 Rand’s Background 1:23:07 AI Privacy 1:26:42 Longevity 1:33:01 Crypto & Privacy in 2026 1:33:33 Closing & Disclaimers ------ RESOURCES Rand Hindi https://x.com/randhindi Zama https://www.zama.org/ Fhenix https://www.fhenix.io/ Unit Ventures https://github.com/randhindi/unit-vc ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

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Bankless

The Holy Grail of Crypto Privacy: Encrypted Ethereum, FHE & Living Forever | Rand Hindi, Zama Co-Founder

This episode hasn't been transcribed yet

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