Institutions are exploring blockchain settlement, but they cannot move forward without system-level privacy, says ZKsync developer.
Privacy tokens bucked the trend to surge in price and popularity during the recent market slump, but most of the discussion has centered on consumer-facing projects like Zcash.
At the same time, banks and financial institutions have been exploring zero-knowledge (ZK) systems that enable private transaction flows on blockchains, a technology known for transparency and immutability.
As Alex Gluchowski, CEO of Matter Labs, put it, “There is cypherpunk privacy, which is account-level privacy, and then there is institutional privacy, which is system-level privacy. Institutions need full visibility over their own flows while keeping that data private from everyone else.”
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