Aleo unveils optional information provision feature 'View Key'…"Presenting a new paradigm for virtual assets and finance"

Layer 1 blockchain project Aleo announced on the 23rd via its official channel that it has introduced a 'View Key' system, enabling selective access to account information.

Aleo's View Key is a protocol-native feature designed so that users can selectively disclose sensitive account-related information within the necessary scope. This function can be utilized when there is a need to privately provide detailed information to the counterpart.

The View Key feature is built into Aleo accounts, and it is only disclosed when the account owner opens it, allowing for user-centric data control.

Notably, the View Key can play a role in providing information to regulatory authorities. Regulators require transaction visibility to prevent illegal activities, while users and companies prioritize confidentiality and control. To resolve this, many systems have adopted centralized data storage, but ongoing issues such as security vulnerabilities and decreases in user trust have been continuously raised. However, Aleo's View Key is expected to offer optional transparency that meets regulatory requirements while protecting user privacy.

Howard Wu, co-founder of Aleo, previously foreshadowed the introduction of the View Key system last month at the 'Token2049' event held in Dubai, stating, "We have overcome the limitations of existing privacy solutions through a private smart contract-based architecture."

An Aleo representative explained, "Through the View Key, it is now possible to develop new applications for the financial industry that maintain security and trust, which was not achievable on conventional public blockchains," adding, "The View Key system will present a new paradigm for virtual assets (cryptocurrencies) and the financial industry."