Categories: Ethereum

Ant Financial Joins $10 Mln Series A, Partners With ZKP Blockchain Privacy Solutions Firm

Click here to view original web page at cointelegraph.com

Ant Financial, the financial affiliate of Chinese e-commerce giant Alibaba, has participated in a $10 million Series A round for QEDIT, an Israeli blockchain privacy solutions firm that develops zero-knowledge proof (ZKP) technology. The news was reported by Israeli daily business newspaper Calcalist on May 7.

The Series A was reportedly led by MizMaa Ventures, and its closing was announced alongside partnerships with Ant Financial, major software firm VMWare and RGAX, a subsidiary of Reinsurance Group of America.

Both latter firms also participated in the financing round, alongside Meron Capital, venture capital firm Jovono, Collider Ventures and Target Global.

The partnerships will reportedly see the companies cooperate with QEDIT to review their privacy products and implement ZKP technology at a corporate level.

As Calcalist notes, QEDIT develops privacy solutions for enterprise blockchains that are compatible with data privacy laws, such as the landmark European Union-wide framework General Data Protection Regulation (GDPR).

As well as allowing for blockchain-powered and privacy-preserving data sharing, QEDIT’s ZKP technology has been designed to be used in audit and due diligence services for financial institutions, an earlier report has outlined.

Geoff Jiang — a vice president and general manager of Ant Financial Technology and Business Innovation Group — is cited by Calcalist as saying that:

“Ant Financial shares a common vision with QEDIT to protect data privacy and security. Robust privacy measures are critical to the ongoing development of the wider finance sector. Together with QEDIT, Ant Financial is committed to providing such capabilities as part of our blockchain services.”

QEDIT was reportedly co-founded by CEO Jonathan Rouach in 2016 and Ruben Arnold, both of whom have previously founded crypto firms, including crypto exchange Bits of Gold and LedgerLock — which provided security services for a range of digital assets and was subsequently sold to Digital Assets Holdings.

As reported in April, Dutch global banking and financial services corporation ING has recently introduced a new solution that extends its existing blockchain privacy-focused technologies such as zero-knowledge range proof and zero-knowledge set membership.

In fall 2018, Big Four auditor Ernst and Young launched its own prototype for a system that enables secure and private transactions to take place on the Ethereum (ETH) public network, using ZKP technology.

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama

Recent Posts

New York Gym Grit Bxng Accepts BTC Payments

Who would have ever thought that working out and bitcoin could ever go together? Well, thanks to a new Manhattan-based… Read More

4 hours ago

Are Whales Behing Bitcoin’s Latest Dips?

A reason for the recent up-and-down behavior of bitcoin may have been uncovered. It’s being reported that several whales moved… Read More

4 hours ago

Bitcoin Drops Below $10,000 as Support Wears Thin

Bitcoin (BTC) has once again found itself caught in the throes of a choppy trading range that has provided little… Read More

4 hours ago

Bitcoin Bottomed at $9,080, BTC to Rally Into End of 2019

Once again, Bitcoin (BTC) has stagnated, finding a foothold around $10,000 for the umpteenth time in a matter of weeks.… Read More

4 hours ago

Cresio CIO Comments, New ‘Satoshi’ and BTC Games: This Week in CT Spain

As many of our readers probably know, Cointelegraph has a number of non-English branches, each covering news from different parts… Read More

4 hours ago

VeChain Attends Shanghai International Blockchain Week 2019

SHANGHAI, Aug. 24, 2019 /PRNewswire/ -- From September 14-18, 2019, Shanghai International Blockchain Week 2019, the largest and most influential… Read More

4 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More