What if privacy wasn’t a barrier but the key to blockchain’s mass adoption?

In this episode, I speak with Fahmi Syed, a financial industry veteran turned Web3 leader, now driving innovation at Midnight—a privacy-first blockchain backed by Charles Hoskinson. Fahmi shares how his journey from hedge funds to Parity, then to Midnight, shaped his belief that rational privacy is not just important, but essential for the next wave of blockchain adoption.

We talk about Midnight’s unique dual-token model, why current chains fall short on privacy, and how selective disclosure using zero-knowledge proofs could unlock real-world use cases for enterprises and individuals alike. Whether you’re a builder, investor, or just curious about Web3’s next evolution, this is an episode you won’t want to miss.

Key Learnings & Timestamps

• 00:45 – Fahmi’s journey from hedge funds to Parity and Midnight

• 02:10 – The two things holding blockchain back: privacy and identity

• 04:00 – Why pseudo-anonymity isn't true privacy

• 05:55 – The rising demand for digital privacy (beyond just finance)

• 07:40 – Real-world risks of transparency in financial trading

• 10:15 – Rational privacy and what Midnight is solving

• 12:00 – Where other privacy chains fell short (Monero, Zcash, etc.)

• 14:15 – Protecting data and metadata on-chain

• 17:00 – How Midnight supports transparency without sacrificing privacy

• 22:10 – Building a blockchain with dual state: public and private

• 24:00 – Midnight’s dual-token model: Knight and Dust explained

• 28:00 – What Web2 gaming taught us about dual currencies

• 33:00 – The Glacier Drop and Scavenger Mine explained

• 34:15 – Midnight’s roadmap for the next 6-12 months

Connect

https://www.linkedin.com/in/fahmi-s-694b5414b/

https://x.com/midnightfdn

https://www.linkedin.com/company/midnight-foundation/https://www.midnight.gd/⁠
Disclaimer

Nothing mentioned in this podcast is investment advice and please do your own research.

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