Samsung unit adds privacy tech to its enterprise blockchain solution Nexledger
Samsung SDS, an IT subsidiary of the South Korean conglomerate, has added privacy-enhancing technology to its enterprise blockchain solution Nexledger.
The firm has partnered with Israeli tech startup QEDIT for the effort, according to a press release shared with The Block on Thursday. QEDIT leverages zero-knowledge proof (ZKP) cryptography to help enterprises control business data in a shared-ledger environment.
The integration of QEDIT’s privacy solution to Nexledger will allow clients employing the enterprise blockchain solution to authenticate data without revealing any underlying, confidential information, per the announcement.
“The performance of QEDIT’s private asset transfer solution has been exemplary during the rigorous series of testing and trials we conducted,” said Jeanie Hong, senior vice president and leader of blockchain center at Samsung SDS. “The QEDIT team has consistently demonstrated the ability to horizontally scale ZKP cryptography in a blockchain environment.”
Last month, QEDIT announced a similar partnership with Deloitte for its enterprise blockchain solution EduScrypt.
"Privacy-enhancing technologies like zero-knowledge proofs have a stellar record of success when it comes to protecting sensitive data. They will be as important to enterprise as cybersecurity solutions were in the last decade,” said QEDIT co-founder Ruben Arnold in Thursday’s announcement.
