The former team in charge of the privacy of the ETA Foundation has independently established for-profit companies EthSystemsI don't know. The company develops a private and compliance system for customers such as banks, regulators and so forth, with the objective of promoting the stabilization of currency, tokenization of assets and the settlement of land on the chain without exposing sensitive information.
The team split from the foundation system.
EthSystems was created by Mo Jalal, Oskar Thorén and Aaryamann Challani. The three had previously led the ETA Foundation ' s Working Group on Institutional Privacy and had had extensive communication with central banks, regulators, large banks and asset management agencies over the past year.
In the company ' s view, there is a clear institutional interest in stable currency, monetized assets and chain settlements, but if the details of the transaction, the holding information and the identity of the customer are all disclosed in open books, it is difficult for real business to move to the chain on a large scale.
Several privacy programs have been published
EthSystems is positioned to provide an institutional trading infrastructure on the Ethers that balances confidentiality with compliance requirements. The team judged that Wall Street had accepted encrypted assets as an asset class, but had not yet used the public chain as a real business infrastructure, one reason being the lack of a combination of private tools.
- Certification of concepts related to private bonds
- Secret stabilization currency transfer programme
- Private inter-chain settlement and enhanced shielding
In addition, the team has prepared a “map of privacy in the Taifung” to summarize the agency's ecological privacy needs and continues to disseminate the results in open source form.
Fee-based services and institutional support
In the business model, EthSystems plans to provide customized advisory and system-building services, including seminars, architecture assessments, protocol specifications and production-level system development. According to the company, this amounts to independent work that had previously been advanced and continued to be commercialized.
This is also the third organization to be detached from the work of the Etherwood Foundation this summer. Previously, the non-profit Ethlabs was in charge of the core protocol study, the Etheum Institute was in charge of communication with banks and regulators, and the Systems focused on privacy technology.
In terms of finance, EthSystems is supported by Bitmine Immmension Technologies, SharpLink, Joe Lubin, co-founder of the Ether Workshop, and SNZ, the Asian Investment Agency. It was reported that Bitmine held approximately 5.7 million ETH and SharpLink approximately 88.88 million ETH. With about $16 billion of real world assets and about $15.9 billion of stability on the Ether Workshop, institutional privacy capacity is being seen as an important condition for further expansion of the chain.