Copy link
Increase text size
Decrease text size
Link copied

QEDIT, Tradeshift partner to create zero-knowledge proof-powered trade finance marketplace

Mon, 23 Sep 2019, 12:53 pm UTC

Blockchain privacy solutions startup QEDIT has partnered with Tradeshift, a cloud-based business network and platform for supply chain payments, marketplaces, and apps.

Under the partnership, the companies plan to implement QEDIT’s privacy solution to create a new type of competitive marketplace that proves the quality of the assets to financiers, while preserving the full privacy of the transactions of participating companies.

Currently, the requirements to share sensitive information prevent companies from requesting finance from bidders in a truly competitive market.

QEDIT leverages zero-knowledge proof (ZKP) cryptography for enterprise blockchains to enable collaboration among competitors – parties can record and authenticate the transfer of assets on a shared ledger without revealing any underlying, confidential information such as who sent what, or how much, to whom. QEDIT also offers tools for auditors to enable regulatory compliance.

By employing this technology, QEDIT and Tradeshift will create a new category of trade finance marketplace where the privacy of participants’ assets can be retained while lowering the risk for the finance partners. This will help ensure access to high-quality financeable assets to financiers and cheaper, more accessible credit for companies.

“Providing affordable finance while protecting participants’ privacy is paramount. This is often a delicate balance, but with the technology provided by QEDIT, it’s no longer about just keeping a balance – it’s going beyond and putting privacy to the forefront to enable new data savvy marketplaces and financing models,” Gert Sylvest, Co-founder of Tradeshift and Head of the research and development unit, Tradeshift Frontiers said.

Underpinned by QEDIT’s privacy solution, the Tradeshift platform will provide financiers with meaningful business insights into relationships and transactions of companies without needing to share private data in order for them to participate in this marketplace. It enables financiers on the Tradeshift platform to submit bids for the finance requests in private, and also to avoid double-dipping finance fraud.

QEDIT and Tradeshift said that they are currently onboarding trial financiers that want to break ground in this new finance category.

“The QEDIT-powered marketplace, which will provide a zero-knowledge proof privacy layer on a permissioned-based blockchain, is useful in many business transactions and can be designed to open new revenue channels for financiers, and solve cash flow problems for small and medium-sized businesses. We invite financiers with an innovative mindset to join us in this exciting project,” Jonathan Rouach, CEO and Co-founder of QEDIT said.

QEDIT, which was recently recognized as a Technology Pioneer by the World Economic Forum, raised $10 million in a series A round led by MizMaa Ventures in May 2019. It is also working with VMware, Ant Financial, and RGAX (a subsidiary of RGA - Reinsurance Group of America) to explore applications of its privacy solution in their respective industries.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $8,886.74 (+0.22%)
  • Ethereum (ETH) $173.57 (+2.31%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $344.90 (-2.52%)
  • Bitcoin SV (BSV) $268.52 (-8.84%)
  • Bitcoin (BTC) $8,886.74 (+0.22%)
Jan 17, 2020 (Friday)
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Crypto dealer SFOX announces new service for investors and wealth managers
Binance in talks with TaoTao and Z Corporation for strategic partnerships in Japan
Crypto Technicals: NEO/USD set to scale new highs, 200-DMA breakout confirms bullish trend
Crypto exchange Gemini launches own insurance company "Nakamoto"
eToro, Radar and OKCoin join Coinbase-led Crypto Rating Council
Huobi joins Blockchain Turkey Platform (BCTR)
U.S. authorities urged to investigate crypto use in funding domestic terrorism and extremism
Calibra, Anchorage, Bison Trails executives elected to Libra’s new technical steering committee
Crypto Technicals: LTC/USD bounces off 5-DMA support, eyes next major hurdle at 200-DMA (65.43)
U.S. lawmakers seek tax exemption for crypto transactions under $200
Former CFTC Chair launches Digital Dollar Project in partnership with Accenture
Crypto Technicals: ETH/USD resumes upside after brief pause, eyes 23.6% Fib at 174.83
Uzbekistan to launch national mining pool and licensed cryptocurrency exchange
Crypto Technicals: BTC/USD extends sideways below 200-DMA, bias bullish
Garanti BBVA conducts real-time blockchain transfers using Takasbank's BiGA Platform
Jan 16, 2020 (Thursday)
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Litecoin Foundation, BlockFi partner to bring more liquidity to users
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.