Blockchain to be used to implement data privacy programmes

AI

Leading enterprises in the States are turning to blockchain technology in a bid to drive cyber security and privacy, reports reveal.

Ant Financial, RGAX and VMware have announced that they will partner with Israeli blockchain security company, QEDIT, to help implement privacy solutions through their blockchain networks.

QEDIT has used Zero-Knowledge Proofs to help banks address confidentiality issues when transferring assets through decentralised networks.

The resultant solutions help organisations to establish supply chain management infrastructures as part of the wider business ecosystem in a way that maximises privacy throughout.

Currently, QEDIT is reaching further with its products and has turned to leading multinationals in sectors including cloud computing, fintech and insurance.

VMware’s chief research officer, David Tennenhouse said:

“VMware’s work with QEDIT represents an exciting moment for VMware Blockchain, our enterprise blockchain platform.

“QEDIT’s privacy solution augments VMware Blockchain’s consensus engine, by providing advanced technologies required to enable trusted information-sharing across organisational boundaries, while aiming to uphold the highest privacy and security standards for our customer base,” he added.

QEDIT CEO and co-founer, Jonathan Rouach, said:

“Today marks a major step in fulfilling our vision to enable secure collaboration between companies using sensitive data. Working with VMware, Ant Financial and RGAX will help us showcase the value that Zero-Knowledge Proof cryptography can offer on an enterprise level, across different industry verticals.”

 


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