When you say bad actors will be punished. How? I assume it means cos your identity is tied to a profile?

Where would privacy fit into it all?

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yes the assumption was/is that interactions would be publicly visible. but it’s indeed a good question where privacy comes into place because (some) people would probably want and possibly need to make most of their actions public to build trust. others would certainly not want to share their actions publicly at all. at least government related interactions should be 100% public and transparent so that all elected people are fully accountable. voting should always be private IMO to avoid intimidation & extortion.