0xJeff@0xJeff
Clear needs for institutional privacy
Take the government example in the article.
tl;dr -> Government adopted weak processes, reportedly exposing voters' sensitive data (e.g. full name, ID number, their votes) to the public
If they were to utilize a blockchain-based system with
+ ZK (prove without revealing the vote)
+ HE (computation on encrypted data)
+ MPC (distribute decryption keys),
They'd likely be able to cut the cost by half while keeping their reputation intact.
At this point, it's more than just finance that needs privacy
> Privacy = applicable across sectors, payments/stablecoins, defi, RWAs, AI, healthcare, finance, identity, security
> Private shared state >> enables private/confidential blockchain. Interact privately without others tracing your financial history, net worth, and other sensitive information
> Private defi >> enables lending/borrowing, yield farming while staying private
> Private identity >> allows users to prove their identity without having to disclose sensitive information (+ removes the need for multiple KYCs while using different apps)
> Private inference >> ensures no cloud providers, no AI labs can see your prompts & your AI responses. Crucial in highly sensitive applications
> Privacy-preserving machine learning >> enables AI models to be trained & deployed without exposing the underlying sensitive data
