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Blockchain Team Of Financial Services Company JPMorgan Chase & Co To Build Privacy Feature

The blockchain team of a financial services company called JPMorgan Chase & Co has built a privacy feature. The feature is related to ethereum-based blockchains. Sender identity along with sending amounts will be obscured through the new feature. 

The head of Quorum and crypto-assets strategy at JPMorgan Oli Harris said, “In the basic Zether, the account balances and the transfer accounts are concealed but the participants’ identities are not. So we have solved that. In our implementation, we provide a proof protocol for the anonymous extension in which the sender may hide herself and the transactions recipients in a larger group of parties.”

Strengthening Quorum efforts inside the bank and beyond is the task Oli Harris performs.

An extension to a fully decentralized and cryptographic protocol called Zether protocol is built. The protocol is related to confidential payments. The extension will be open-sourced. It can be used with an enterprise-focused version of Ethereum called Quorum™.

The financial services company JPMorgan Chase & Co is recognized as an innovative financial solutions provider. Consumers, small businesses, corporations, governments, and institutions are already helped with innovative financial solutions. It is located in New York.

A team of academics and financial technology researchers has built a fully-decentralized and confidential payment mechanism called Zether. Zero-knowledge proofs (ZKPs) is used by the mechanism. Data can be verified without revealing that data through ZKPs, CoinDesk reported.

He added, “When we look at our own JPMorgan applications [the extended version of Zether] will be one choice of many that we will be looking at.”

The financial services company JPMorgan Chase & Co serves clients across 100+ countries. It tries to identify issues. It doesn’t only try to identify the issues, but it also proposes solutions. Propelling the future and strengthening both clients and communities are purposes behind the issues identified and the solutions proposed, according to the official LinkedIn account of JPMorgan Chase & Co.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Shabnam Dhar is a Copy Editor for OWLT Market.

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