Privacy sounds like hiding, but in the real business world, what companies and institutions need is secure and controllable trust.
If blockchain is purely transparent, it is extremely dangerous for large funds. Would you be willing to expose all your business contracts, cash flows, and competitive strategies nakedly on a public chain? Definitely not. This public ledger model of early Web3 actually sacrificed user security for the sake of the system's 'de-trust'.
@MidnightNetwork 's birth marks the second revolution of blockchain trust mechanisms: from 'forced transparency' to 'active control of security'.
Why do I think it changes the business of Web3?
The main reason is that it solves the trust paradox of public chains. We use a DApp, and trust it because you can see the code and data. On Midnight, its ZK-SNARKs technology allows you to trust an application because you can see its mathematical proof. For example, you can prove that a user has passed KYC and has investment qualifications without exposing their specific identity.
This is probably true enterprise-level data insurance. Most privacy coins are still trying to figure out how to hide money, while Midnight uses Compact language (TypeScript friendly) to allow developers to build complex, protected business logic under compliance.
For example: a company can place the entire contract flow of supply chain finance on the blockchain, using the immutability of blockchain to solve credit issues. At the same time, by utilizing Midnight's protection mechanism, competitors will not be able to know the specific procurement prices and supplier information.