What Midnight seems to recognize is something the internet has struggled with for decades:
Everyone wants the value of data.
But nobody wants the risk of mishandling it.
So the systems in between get messy.
Permissions everywhere.
Slow coordination.
Institutions that trust nothing.
Legal frameworks that slow everything down.
A huge part of modern digital infrastructure exists simply to manage the friction of sensitive information.
Midnight’s approach, as I understand it, is that blockchain might still help here — but only if it stops insisting that everything must be public.
If someone can prove something without exposing the underlying data, that changes the equation.
Not philosophically.
Operationally.
And honestly, that’s a more practical starting point than most crypto narratives we’ve seen recycled for years.