Jeremy Welch (Kraken) on Contemporary Proofs of Reserve (EP.283)

In this episode, Kraken chief product officer Jeremy Welch joins the show to cover Kraken’s newly announced Proof of Reserve procedure. In this episode:

  • Why bring back PoR?
  • What distinguishes today’s proof of reserve from the procedure Kraken undertook back in 2015
  • Why haven’t exchanges done PoR historically?
  • What Kraken’s PoR actually proves to depositors
  • The role of Armanino in Kraken’s PoR
  • What happens when a depositor verifies their PoR
  • How Kraken protects user privacy in PoR
  • The trustlessness of the PoR procedure
  • What regulators can gain from a PoR
  • How Kraken clients can benefit from PoR
  • How Jeremy expects other exchanges to react

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See more on Kraken’s PoR here