Visa develops a blockchain-based joint computing system for processing large-scale private data

According to Cointelegraph on November 19th, the international payment network Visa is developing a blockchain-based system for joint policy-compatible computing of large-scale private data.

44050240512_1c763d73e2_b (Source: flickr )

Visa's R&D department, Visa Research, specializes in data analysis, security and payment innovation. The department recently published a paper describing LucidiTEE, a policy-compatible computing system based on blockchain, in which TEE represents a trusted execution environment.

Joint processing of large-scale data with higher transparency

The system is designed to build applications that serve a large number of users and process large data sets, protecting the privacy of user data while processing data. LucidiTEE allows participants to perform policy-compliance calculations on private data, providing them with transparency and control over the data, and ensuring that other parties cannot see the results.

In order to ensure the fairness of the calculations and the compatibility of the policies, the system uses a specific protocol between the TEEs and the shared ledger to ensure that the ledger is used in accordance with existing policies.

Fighting to protect personal privacy

The industry has been concerned about the safe handling and sharing of personal data. At BlockShow Asia 2019, held earlier this month, several leaders in the cryptocurrency industry announced that they would create an agreement to maintain privacy while complying with the Financial Action Task Force (FATF). The white paper shows that the agreement allows virtual asset service providers across multiple jurisdictions to trade with each other without having to know each other and without having to register with any central authority.

In addition, in order to maintain anonymity and protect personal data, an anonymous organization called "Unknow Fund" recently announced that it plans to donate $75 million worth of bitcoin to startups working on privacy development.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

Research Report | Exchange Industry 2019 Q1 Report

In the first quarter of 2019, the digital clearing exchange industry changed dramatically. After a long bear market i...

Blockchain

Can the combination of decentralized derivative exchanges and account abstraction open up the next incremental entry point?

How much will the target audience expand if decentralized contract exchanges can be logged in using Google accounts?

Blockchain

The original market maker is not "Zhuang"? What is the significance of the coin safety ball recruitment market?

On September 30th, the company announced that it has launched the Global Markets Program and will recruit Market Make...

Blockchain

When the PoS gold rush era is opened, who will become the next bit continent?

background The first generation of cryptocurrency bitcoin, which brought the necessary changes to our world, and the ...

Market

Wu's Weekly Picks: HSBC launches cryptocurrency ETF, US SEC rejects spot ETF application, Azuki criticized by community, and top 10 news (June 24-30)

Author | Wu's Top 100 Blockchain News This Week. US SEC Returns Spot ETF File According to WSJ, the US...

Blockchain

The digital currency exchange has been caught in the throat by the legal currency.

Under the premise of a constant total circulation, money acts as a catalyst for rapidly transforming production mater...