Deloitte uses zero-knowledge proof technology to improve the privacy attributes of its blockchain platform

According to Cointelegraph, on October 30th, at the ZKProof community event in Amsterdam, Deloitte, one of the Big Four accounting firms, announced that it will integrate the privacy attributes developed by the cryptocurrency startup QEDIT into its blockchain platform Eduscrypt.

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This is another application of zero-knowledge proof

Deloitte's Eduscrypt platform allows organizations to trace, share and verify qualifications using a proprietary, licensed Ethereum blockchain. However, in some cases, some content does not need to be shared. In Europe, for example, the General Data Protection Regulations (GDPR) prohibit personal information from being shared at will. One way to solve this problem is to avoid putting data on the blockchain and replacing it with proof of the data. This is the role of zero-knowledge proof technology: one party (certifying party) can prove to the other party (verifying party) that they know some private information without passing any information.

According to reports, Eduscrypt can guarantee that certification qualifications are real, reduce data errors, and create a repository of qualification information shared between organizations. The Chief Technology Officer of EMEA Blockchain Lab at Deloitte said:

Scholars and companies will benefit from the use of blockchain technology. For most organizations, verifying, managing, and documenting the educational qualifications of employees and future employees can be a cumbersome and expensive process, and some violations are subject to regulatory penalties. By integrating QEDIT's zero-knowledge proof of privacy solutions, we ensure that organizations can trust the authenticity of relevant qualifications while protecting the privacy of the underlying data.

Improve the privacy attributes of blockchains

The company explained that it uses zero-knowledge proof to allow enterprise blockchain users to record and authenticate data without revealing relevant confidential information. Network participants can verify the integrity of the transaction, but they can't see who sent it to whom.

At the same time, the company provides regulators with the tools they need to ensure compliance. Jonathan Rouach, CEO and co-founder of QEDIT, praised the encryption innovation used in the company's systems:

Integrating QEDIT's privacy solution into Deloitte's Eduscrypt platform is another viable use case that demonstrates the enormous potential of zero-knowledge proof technology in many industry transformations.

Cointelegraph reported in September that after the Byzantium hard fork, the zero-knowledge proof technique was already available on Ethereum.