financial institutions are moving closer to onchain finance
but bringing financial activity onto a blockchain creates a challenge beyond transactions and smart contracts
a lot of valuable financial and user data already exists across web2 platforms
some examples include account balances, portfolio details, financial records and user activity… accessing these details could help an application make better decisions, but sensitive information cannot always be made public
there is also a trust problem
how can an application confirm a piece of information from the internet without relying on an unverified claim?
and how can it process sensitive information without revealing the underlying data?
@primus_labs is working around these problems through its privacy and verification infrastructure
one part of the technology focuses on zkTLS
when a user accesses information through a website or API, zkTLS can help prove the authenticity of the data received from the source without exposing the original information… the goal is to make internet data verifiable while protecting the user’s private details
the second part involves fully homomorphic encryption (FHE)
when sensitive information needs to be processed, FHE allows computation to happen directly on encrypted data. the underlying information stays protected during processing, while access to the result remains controlled by the appropriate data owner
together, these technologies create room for applications to work with information they may not be able to safely expose
the financial use cases make the problem more practical
proof of reserve systems can support verification across onchain and offchain portfolios, confidential finance can explore private asset holding, transfers and yield related activity through encrypted assets
there is still a lot to examine, from the underlying infrastructure to the products built around it
i’m starting my exploration of primus by looking at the problem behind the technology, then moving into how its products approach privacy and verification for onchain finance
i’ll be sharing more as i explore the technology and its use cases
if you want to explore primus too, you can start here:
s.kaito.ai/bQv7GBK