Homomorphic Encryption and Smart Contracts for Privacy and Transparency
Homomorphic encryption and smart contracts can be a perfect combination of public and private blockchain features. Bitcoin and transparency go hand in hand. While we can’t say the same about centralized exchanges and trading platforms, the Bitcoin protocol is completely transparent and offers a certain degree of anonymity as well (pseudonymity). But as technology progresses, we now have entirely different use cases of blockchain technology on our hands. Bitcoin’s underlying blockchain technology has grown beyond being a public ledger keeping a record of all bitcoin transactions. The....
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Since making its way into crypto-space, Ethereum has continued in charting new courses and providing improved technology for creating smart contracts. On Tuesday the developers at ether.camp announced on its blog the release of what they called ‘Ethereum Full Transparency.’ The new product will provide better transparency of transactions and enable regular people to create useful contracts. Better transparency of transactions. This development was inspired by the need for regular individuals to be able to create their own smart contracts. Roman Mandeleil, CEO and Founder of ether.camp,....
MIT Media Labs, in collaboration with two Bitcoin entrepreneurs, has unveiled a project that would protect cloud-based data from being discovered by third-party entities. Dubbed as Enigma, the project is hoping to meld decades-old data security method, known as "homomorphic encryption", with the cryptography technology behind the digital currency Bitcoin. Doing so, the creators of Enigma will be maintaining the data's overall privacy during its propagation from one place to another. The project will apply some mathematical tricks on the data that will make it unreadable to hackers and....
The interception of private correspondence is always a touchy subject. On one hand there are questions of privacy and on the other hand state security. There are many people who are willing to trade privacy for security in an era which is dominated by terrorism, strife and other random senseless violence. However, whatever may be the cost, privacy is important and the ability to carry out your business and private life without the fear of eavesdropping by third parties is still a right that most people yearn for. In an effort to protect their customer’s privacy, many companies are....
The platform is a step forward in practical uses for Homomorphic Encryption, letting multiple actors conduct analysis while keeping the data encrypted.
Aesthetic Integration, a London-based fintech that applies “formal verification” to analyze safety and fairness of algorithms in financial markets, recently announced the launch of Imandra Contracts, a solution the company calls the world’s first platform using formal verification for blockchain-backed smart contracts. The announcement was made at the Devcon2 conference as part of International Blockchain Week in Shanghai. Imandra Contracts applies advances in artificial intelligence, mathematics and computer science to bring improved rigor to the electronic financial markets and other....