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Kaleido, a ConsenSys enterprise blockchain startup, has announced its partnership with QEDIT, a provider of privacy solution for enterprise blockchains.
In its announcement, Kaleido said that it is the first blockchain service provider to integrate QEDIT Zero-Knowledge Proof Enterprise Privacy Solution onto its platform to protect private information from being shared on the ledger.
We are very excited to collaborate with @Kaleido_io and to bring zero-knowledge privacy to Enterprise customers using Kaleido's Blockchain services. https://t.co/Jo6T2FGY6Z
— QEDIT (@qeditzkp) September 15, 2019
Clients would now be able to keep sensitive transactional data off the blockchain through zero-knowledge proof cryptography when transferring tokenized assets. CoinDesk noted that the technology has particular utility in the energy and financial sectors.
Speaking with the news portal, Kaleido CEO Steve Cerveny explained that tokens are a “digital construct of real world assets,” adding that they have a shared state and need to move from one party to another.
“In many cases you would want to obfuscate some amount of information,” Cerveny said.
In its press release, Kaleido noted that Zero-knowledge proofs (ZKP) can provide complete transactional privacy, enabling transactions where one party can prove to another party that they know a certain value without conveying any other information.
It said that it introduced two new services around ZKP – Kaleido’s Zero Knowledge Token Transfer Service and QED-IT’s Private Asset Transfer Service – both of which are designed to promote secure, private transactions for organizations that require it. Both these services are now available in the Kaleido marketplace.
“As our clients’ blockchain networks mature, many are looking to solve next-gen problems for their ecosystems. QEDIT’s leading privacy innovations in the zero knowledge space are compelling for our customers. We’re excited to offer access to QEDIT’s deep tech in our marketplace,” said Sophia Lopez, Kaleido Founder and COO.
Jonathan Rouach, QEDIT co-founder and CEO, noted how Kaleido is accelerating the enterprise adoption of blockchain technology by removing the need for companies to invest significant resources in custom code development.
“The komgo blockchain network, which is used by the world’s leading energy companies and financial institutions, is a showcase example of what can be achieved on the Kaleido platform. We’re proud to be partnering with Kaleido and thrilled about having our ZKP privacy protocol available in their marketplace,” he added.
