Chainlink Introduces Confidential Blockchain Transactions for Enterprise Clients
Date: 2024-10-23 Author: Henry Casey Categories: BLOCKCHAIN, BUSINESS
The decentralized platform Chainlink, which runs on Ethereum, has announced the launch of two key technologies designed to increase the level of privacy for companies transacting with digital assets. Among them are the Blockchain Privacy Manager, which allows private networks to be connected to the public Chainlink platform, and the CCIP Private Transactions protocol, which provides data encryption. These tools allow companies to protect and hide information such as the number of tokens and counterparty data.
New Confidential Transactions Features from Chainlink
The technologies introduced by Chainlink allow enterprise clients to set the terms of transaction privacy so that data remains inaccessible to third parties and attackers. However, certain authorized participants, such as regulators or parties to the transaction, will still be able to view encrypted data. Chainlink co-founder Sergey Nazarov noted that this feature could significantly accelerate the adoption of blockchain technology in the financial sector, as private transactions are now possible on the Chainlink platform.
One of the first clients to test the new solutions will be the Australian and New Zealand banking group ANZ Bank. The bank plans to integrate Chainlink technology to conduct settlements with tokenized assets as part of its tokenization initiative in collaboration with the Monetary Authority of Singapore.
