EY Makes Privacy Enhanced Ethereum Tech Public Domain
By CCN: In four-to-six weeks, a blockchain product developed by Ernst & Young (EY), one of the “big four” professional services organizations, will be made public domain (open source).
Privacy and Public Blockchains: A Tall Order From Large Enterprise
Dubbed “EY Ops Chain Public Edition,” the technology uses zero-knowledge proofs to give permissions to transaction information similar to Monero and other privacy coins.
Only those with the keys to see the actual transaction information will be able to do so.
EY believes that privacy-enhancing technologies are crucial to more widespread blockchain adoption, saying in their press release:
“For most enterprises and investors, the inability to conduct secure private transactions has been a major obstacle to fully embracing public blockchain networks.”
The move is meant to promote the use of “public” as opposed to “private” or “permissioned” blockchains. EY makes this move in the face of firms like JP Morgan releasing private blockchains for moving value within their massive network.
This is how Ethereum works pic.twitter.com/ptg1cQHur7
— Dennis Parker⚡️ (@Xentagz) April 17, 2019
