A new company, EthSystems, was formed by former members of the Fund ' s Institutional Privacy Task Force to begin commercializing corporate privacy technologies that had previously been promoted within the Foundation. The company will provide a confidential trading and settlement infrastructure based on the Ether House for customers such as banks and regulators.
The Etherwood Foundation continues to divide functions.
This split took place during the recent rare round of organizational adjustments of the ETA Foundation. Over the past few months, the Foundation has continued to be questioned by the outside world about leadership, direction and how to support a growing group of institutional users.
In this context, the Foundation has recently transferred many of its original internal tasks to more specialized independent bodies. Entities previously separated include EthLabs and the non-profit organization that coordinates cooperation with large financial institutions.
New company targeting bank privacy needs
EthSystems stated that the company would continue its previous work within the Foundation and provide services outside the company in a business model. The planned product directions include secure and stable currency transfers, private bond issuance infrastructure and cross-chain clearing systems.
In platform X, the company stated that business cooperation required a clear commercial counterparty and therefore opted for a profit-making company. According to them, the team would continue its original work and would only start charging clients.
Institution uses still chain transparency
Over the past year, the Etherwood Foundation has been promoting private technology for business landscapes and engaging with central banks, regulators, global banks and asset management companies. The background shows that institutional interest in the financial infrastructure of the public chain is expanding beyond the investment of encrypted assets.
However, despite the continued warming of monetized assets and stable currency applications, many traditional financial institutions remain reluctant to deal directly with real financial flows in fully transparent public-chain books. According to EthSystems, the lack of confidentiality remains one of the main obstacles for banks and regulators to move more financial activities to the Ethers.
It stated that its programme would introduce a modular privacy system that would allow participants to disclose transaction information as required while retaining the security of the Taipei.
Additional information:EthSystems discloses that it is supported by BitMine, SharpLink, EtherPuff Lubin, SNZ, and other EtherPress related investors.