The conflict between maintaining privacy and being able to be transparent has created what many call the “Transparency Paradox” for Blockchain technologies. The rapid increase in the usage of public, immutable ledgers will continue to create new methods for generating trust. At the same time, it poses a substantial challenge for organizations because sensitive information about transactions on those ledgers can be easily seen.
T-REX Network, a Blockchain technology provider, and Zama, one of the world’s leading thought leaders in Fully Homomorphic Encryption (FHE) have announced an aligned partnership to solve this conundrum. Their partnership provides for an integrated native end-to-end confidentiality to the T-REX Ledger itself, leading to a totally different methodology for implementing privacy on this platform.
Revolutionizing Privacy with Fully Homomorphic Encryption (FHE)
This collaboration is based on Zama’s professional knowledge about Fully Homomorphic Encryption. Traditional forms of encryption require the use of decrypted data to process the information, which exposes this information to the possibility of being compromised. In contrast, with FHE, computations can be conducted using encrypted data.
T-REX Ledger users and developers will have the ability to run Smart Contracts and perform Transactions without disclosing any of the underlying data due to Zama’s technology integrated within T-REX Ledger. Through Blind Computation, the network can verify that a transaction is valid while all of the underlying information regarding the specifics of the transaction, such as account balances and contract parameters, remains encrypted and private. This represents a significant step from having only Pseudonymous Data to true Data Sovereignty.
Strengthening the T-REX Ecosystem
For many years now, T-REX has been a proven strong network infrastructure for future-generation decentralized applications. The just-announced addition of native confidentiality through Fully Homomorphic Encryption gives the T-REX ledger a new level of attractiveness. It is particularly appealing to industries with stringent data privacy requirements such as decentralized finance, health care, and supply chain management.
This partnership allows developers access to a variety of resources that will help them build privacy-preserving features more easily. Developers will no longer have to create off-chain solutions with complex logic for their apps or endure the cumbersome process of writing zero-knowledge proof (ZKP). They can now use Zama’s fully homomorphic encryption libraries to create private-by-design dApps on the T-REX Ledger.
Institutional Adoption and the Road Ahead
With the increasing regulations regarding data privacy, there is now an ever-growing amount of scrutiny for how companies are using data. Regulatory agencies, as well as other stakeholders in the business world, are concerned about institutions using public blockchains. They do not want to risk exposing their proprietary trading strategies or sensitive client information. To address this need, Zama offers an innovative way (a dark environment) for T-REX Network to connect institutional entities with Web3.
According to Gartner’s research findings, fully homomorphic encryption has been classified as an emerging “Privacy Enhancing Technology” (PET). This technology is going to be a major force in shaping the business world over the next ten years. T-REX adopted fully homomorphic encryption technology very early, which gives T-REX an advantage with regards to blockchain. As a result, they are positioned to lead other companies in the privacy-centric blockchain movement and potentially establish a new standard for ledger architecture.
Conclusion
T-REX is working with Zama to change the way we think about privacy and security online through a major upgrade to the foundation of the internet infrastructure. T-REX has made confidentiality part of the ledger’s DNA, addressing one of the biggest barriers to general adoption and institutional use of blockchain technology. The entire industry will be monitoring how FHE-based ledgers expand the concept of decentralization and transparency. At the same time, these ledgers provide safe and secure places for individuals to store and access their personal data.
