The EthSystems, separated from the ISF Institutional Privacy Working Group, have been officially launched, and the project will advance the previous open source research to the practical development phase, focusing on the privacy needs of the institutions on the ITA network.
Supported by Ecobank.
The project is supported by Bitmine, SharpLink and Joe Lubin, a co-founder of the Taifu. According to project disclosures, the goal of EthSystems is to provide institutions with a privacy infrastructure that is better suited to the compliance scenario.
Such designs do not completely hide transactions, but rather emphasize “selective disclosure”. In other words, an institution may retain sensitive transaction information when using a chain of assets, while disclosing relevant data to a specific object, as necessary.
Covers stable currency and chain settlement
The EthSystems scenario of planned services includes the common operations of institutions such as stabilization currency, bonds and settlements. Excessive transparency in transactions has been one of the obstacles to entry for institutions that wish to move part of their financial activities to the public chain.
The project hopes to improve the issue without being separated from the Taifeng network, so that institutions can use block chain assets and clearing capacity without having to disclose all sensitive details.
- Application scenarios include stabilization coins.
- It also covers bond and settlement operations.
- The core function is selective disclosure
Project entering the physical development phase
The original text indicates that EthSystems, which was previously related to the ITA Foundation ' s Institutional Privacy Working Group, has now moved from a research phase to a proactive development. This means that the work is no longer in conceptual validation or open-source discussions, but is beginning to move into the product construction phase.
The entry of institutional funds into the public chain usually requires a balance between transparency, privacy and compliance. The advance of the EthSystems reflects the fact that the Ethera ecology is continuing to complement infrastructure around institutional use.