When blockchain enters mainstream finance, privacy shifts from nice-to-have to must-have. The realistic approach isn't full privacy or total transparency—it's selective disclosure. Think private transactions by default, with compliance tools available when regulators knock on the door.

What to track: How wallets integrate privacy features, whether proof generation costs drop to competitive levels, and if enterprises actually run pilots with these solutions. The real test is whether the tech stacks around ZK proofs, FHE, and confidential transfers can scale without breaking UX or economics. Get any of these wrong, and privacy becomes the first thing chopped to hit mainstream adoption.