This article is compiled fromCoindesk, translated by Suixin, edited by Lu Xiaoming, produced by Odaily.
IsraelEnterprise blockchain privacy technology developer QEDITA round of financing of US$10 million has been completed, and Ant Financial Services participated in the investment. It is reported that Ant Financial will also incorporate QEDIT’s zero-knowledge proof (ZKP) technology into its blockchain project.
Geoff Jiang, vice president and general manager of Ant Financial Technology and Business Innovation Group, said in a statement: "Ant Financial and QEDIT share a common vision in protecting data privacy and security, and sound privacy protection measures are critical to the continued development of the financial industry. It is critical. Ant Financial, together with QEDIT, is committed to making these capabilities part of our blockchain services."
Other partners implementing QEDIT ZKP include software giant VMWare and RGAX, a subsidiary of American Reinsurance Group, among others.
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Zero-knowledge proof, so that data can be shared without leakage
Zero-knowledge proof schemes provide a way to prove possession of a secret without revealing the secret itself. Many have attempted to apply this technique to restore privacy on blockchains that by default favor broadcast data.
As an example, Rouach said QEDIT has demonstrated on the ethereum blockchain how to prove that a person falls within a certain tax bracket without having access to other underlying data. Recently BNP Paribas launched a Proof of Concept (PoC) around trade finance collateral management to prevent fraud when a trader uses the same collateral to obtain financing twice from two different banks.
"Because banks can't cooperate on private information, they can't know if collateral has been credited to other financial areas," Rouach said. "We have a mechanism on the blockchain where banks can check collateral number of times a product is used without sharing customer information.”
Outlining how QEDIT's zero-knowledge proof technology is being used by companies such as Ant Financial and VMware, Rouach said ZKP solutions allow cloud deployment of blockchains without the need for a network to run in multiple cloud environments. Do not disclose any sensitive information outside of your chosen cloud provider.
He said: "Increasingly, we see some industries adopt enterprise blockchain as their collaborative backbone, and competitors join the same network. We integrate Ant Financial and VMware stack into enterprise blockchain, and customers can choose BaaS platform that includes QEDIT's privacy layer solution by default".
When applied to the insurance industry, ZKPs help combat claims fraud, where claimants are able to exploit information asymmetries between insurers to file multiple claims for the same loss or event (insurers cannot account for this because data cannot be shared). problem), Rouach said.
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Efforts to address the performance challenges of zero-knowledge proofs
A practical obstacle when it comes to using ZKPs is the amount of computation these proof schemes consume, which can hamper blockchain performance. Like many projects in this space, QEDIT is grappling with scalability and performance challenges surrounding zero-knowledge schemes.
To this end, Rouach and his team devised a scaling mechanism called "proof chaining" that can generate proofs in parallel. "It allows us to take the evidence and chop it up into small pieces, and then parallelize those pieces on different machines and do it in a scalable way," he said.
In addition to making the technology more practical, QEDIT is actively promoting the standardization of ZKPs so they can be sold to enterprises. “This will move the blockchain from a test PoC to an actual deployable network; it will allow competitors to be part of the same network without having to rely on some central authority,” Rouche said.
Jonathan Rouach, CEO and co-founder of QEDIT, said the ZKP scheme his Tel Aviv-based company built was compatible with most enterprise blockchains, which made the company attractive in Asia.
Rouach told CoinDesk: “We have been promoting our product to large suppliers in Asia, one of which is the fintech company Ant Financial. So our product is compatible with the Ant Financial blockchain product.”
He pointed out that Ant Financial has launched blockchain products and is very familiar with the need for privacy when moving assets. Previously, Ant Financial has laid out multiple blockchain applications, including applying blockchain to,and,andTrace the origin of rice。
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