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posted by martyb on Monday May 22 2017, @11:33PM   Printer-friendly
from the I-don't-know-nuthin dept.

http://www.tomshardware.com/news/jp-morgan-quorum-zcash-privacy,34477.html

The Zerocoin Electric Coin Company (ZECC), which developed the Zcash digital currency, announced a partnership with J.P. Morgan to integrate Zcash technology into the financial company's enterprise blockchain platform, Quorum.

Last year, Zcash was introduced as the first truly private digital currency, also called by its founders the "HTTPS for money." The high degree of privacy is afforded by recent breakthroughs in cryptographic technologies called "zero knowledge proofs." The privacy of the payments and of the sender and receiver is guaranteed mathematically. Only the fact that a transaction was made remains transparent to the network. Even the amount of the transaction remains private.

[...] J.P. Morgan's Quorum platform will implement Zcash's zero-knowledge security layer (ZSL) in the same way the Secure Socket Layer (SSL) protocol was implemented by websites in the early days of the internet to secure transactions. The ZSL layer will give Quorum the same privacy features of Zcash, but it will also allow J.P. Morgan to scale down some privacy protections if necessary to comply with government regulations.

Zcash and Quorum.


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  • (Score: 4, Insightful) by jelizondo on Tuesday May 23 2017, @12:54AM (3 children)

    by jelizondo (653) Subscriber Badge on Tuesday May 23 2017, @12:54AM (#513873) Journal

    Trusting one of the most ancient and respect Establishment players to lead the charge against the establishment is like expecting King George III to lead the American Revolution.

    Stay away I tell you…

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  • (Score: 1) by tftp on Tuesday May 23 2017, @01:21AM (1 child)

    by tftp (806) on Tuesday May 23 2017, @01:21AM (#513887) Homepage
    It may be perfectly legit. All you need to do is to understand how they are going to make profit. If they only want a small cut from each transaction, that may be OK. If they want to know all about you when you make the payment - not so good (the Google way.)
    • (Score: 2) by jelizondo on Tuesday May 23 2017, @03:35AM

      by jelizondo (653) Subscriber Badge on Tuesday May 23 2017, @03:35AM (#513952) Journal

      I would agree with you except for the part that says:

      it will also allow J.P. Morgan to scale down some privacy protections

      Trusting that it will only be used when presented with a judge's order is fantasy; they will out-google Google and Apple and the NSA put together.

  • (Score: 0) by Anonymous Coward on Tuesday May 23 2017, @01:47AM

    by Anonymous Coward on Tuesday May 23 2017, @01:47AM (#513904)

    They're not responding to your repeated job applications?