This represents an odd level of trust. The user trusts Circle and Coinbase enough to purchase USDC at facevalue. The user doesn't trust Circle or Coinbase enough to keep private transaction histories.
I understand the position of fully trusting the third party (Visa, Paypal, Stripe) when combined with legal protections. I understand the position of fully distrusting third parties (bitcoin, etc). I do not understand why someone would prefer this mixed level of trust.
This represents an odd level of trust. The user trusts Circle and Coinbase enough to purchase USDC at facevalue. The user doesn't trust Circle or Coinbase enough to keep private transaction histories.
I understand the position of fully trusting the third party (Visa, Paypal, Stripe) when combined with legal protections. I understand the position of fully distrusting third parties (bitcoin, etc). I do not understand why someone would prefer this mixed level of trust.