Can privacy and compliance finally coexist on blockchain networks?
On this episode of The Privacy Podcast, Ben Schiller speaks with Muthu [
Muthuramakrishnan Venkitasubramaniam], CEO and co-founder of
Ligero and professor at Georgetown University, about the next evolution of zero knowledge technology and why privacy infrastructure is moving from niche cryptography research into mainstream internet systems.
Muthu explains how his early academic work on zero knowledge proofs unexpectedly became part of Google’s identity stack, why client side proving could reshape digital identity and financial systems, and how privacy preserving compliance may become one of the defining technologies of the next decade.
The conversation explores the tension between decentralization, regulation, usability, and auditability, while also unpacking why privacy infrastructure is no longer just a blockchain issue, but an internet wide issue.
“The same zero knowledge proof that allows you to do private transactions also provides compliance.”
For years, blockchain systems prioritized transparency and decentralization, often at the expense of privacy. But as institutional finance, identity systems, and regulators begin entering the space, the demand for privacy preserving infrastructure is accelerating quickly.
Muthu V. argues that zero knowledge proofs may finally bridge the long standing gap between privacy and compliance. From proving identity without exposing personal data to enabling private payroll systems powered by stablecoins, the episode examines how cryptography is evolving from theory into real world infrastructure.
The discussion also explores Google’s adoption of Ligero related technology for identity verification and why major enterprise adoption may become the tipping point for regulators and mainstream acceptance.
What We Cover
• How Muthu first became fascinated with cryptography and zero knowledge proofs
• Why blockchain accelerated real world adoption of ZK technology
• The difference between public proving systems and client side proving
• Why privacy should happen directly on user devices
• The usability problem facing privacy infrastructure today
• How zero knowledge proofs can provide both privacy and compliance
• Why regulators are becoming more interested in ZK systems
• Google’s adoption of Ligero related technology for identity systems
• The future of self sovereign compliance and digital identity
• Why payroll may become one of blockchain’s biggest privacy use cases
• The rise of private stablecoin infrastructure and composable finance
• Why Muthu believes ZK technology will become mainstream internet infrastructure
Why This Matters
Privacy is quickly becoming one of the most important infrastructure conversations in technology.
As more financial activity, identity systems, and personal data move online, traditional models of surveillance based compliance are becoming increasingly difficult to scale. Zero knowledge systems introduce a new framework where users can prove compliance without surrendering unnecessary personal information.
The implications stretch far beyond crypto.
From digital IDs and payroll systems to banking, healthcare, and online authentication, privacy preserving cryptography may fundamentally reshape how trust operates across the internet.
Guest Muthu V. is the CEO and co-founder of Ligero and a professor at Georgetown University specializing in cryptography, zero knowledge proofs, and secure computation systems.
About the Show
The Privacy Podcast by Miden explores the intersection of privacy, identity, and emerging technologies. Hosted by Ben Schiller, the show brings together builders, regulators, and thinkers shaping what comes next in a world where data is power.
Executive Producer Michele Musso
Edited by the
Musso Media Team
Music: licensed.
All rights reserved. ©2026 Musso Media
What is Privacy Podcast?
The Privacy Podcast by Miden explores the future of privacy, identity, and trust in a digital world being reshaped by blockchain and AI.
Hosted by Ben Schiller, The Privacy Podcast dives into one of the most critical questions facing technology today: How do we build a more private, secure, and trustworthy internet?
A former journalist with over a decade of experience covering crypto and emerging technologies, including six years at CoinDesk, Schiller brings a sharp editorial lens to conversations at the intersection of privacy, blockchain, and digital rights.
At its core, this podcast is driven by a simple idea: privacy is not optional. It is foundational to the next phase of the internet.
As blockchain technology moves from experimentation to real-world adoption, privacy becomes essential for onboarding institutions, enabling enterprise use cases, and unlocking the full potential of decentralized systems. At the same time, it addresses a deeper, long-standing issue. The modern internet was built without effective privacy infrastructure, giving rise to what is often described as a surveillance-based economy, where personal data is exchanged for access to services.
This show explores how that model is changing.
Produced by Musso Media, The Privacy Podcast features conversations with leading builders, researchers, policymakers, and thinkers shaping what comes next.