EthSystems Says Privacy Is Main Hurdle to Banks Adopting Public Blockchains
Summary
- Mo Jalil, co-founder of EthSystems, said privacy is the biggest obstacle to banks and other financial institutions adopting public blockchains.
- EthSystems said it is developing privacy infrastructure for banks and financial institutions, focusing on meeting the degree of confidentiality those institutions require.
- Jalil said the company will focus on collaborating with the existing privacy ecosystem rather than competing with established privacy projects.
Forecast Trend Report by Period
Mo Jalil, co-founder of EthSystems, said privacy remains the biggest obstacle to banks and other financial institutions adopting public blockchains, CoinDesk reported on July 28. EthSystems was spun out from the Ethereum Foundation earlier this month.
Jalil said most financial institutions require a certain degree of confidentiality. That goes beyond hiding information or guaranteeing anonymity, he said, and instead means controlling who can access information, when they can access it and what they are allowed to view.
EthSystems, which develops privacy infrastructure for banks and other financial institutions, will focus on collaborating with the existing privacy ecosystem rather than competing with established privacy projects, Jalil added.
JH Kim
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