Mphasis Limited and QED-It Partner to Offer Privacy-Enhancing Technology Solutions on Blockchain to Enterprises
January 23, 2020 at 06:10 pm
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Mphasis Limited announced its partnership with QED-It, that uses Privacy-Enhancing Technology and Zero-Knowledge Proof (ZKP) cryptography to help companies transact and leverage their business data in a privacy-compliant manner. Under this partnership, the two entities will co-innovate and develop ZKP solutions to enable enterprises to fight fraud, verify identities, and uphold compliance with local data privacy regulations. All this while preserving full control over proprietary and confidential information. Blockchain is structured in a way that anyone with access to a blockchain transaction can view data provided across all nodes. This inherent principle of transparency is an obstacle for companies that wish to gain efficiencies using a shared ledger, but simultaneously need to protect confidential transactional details. QEDIT's Private Asset Transfer solution employs ZKPs, a cryptographic algorithm that enables Party A to share the proof of knowledge with Party B without sharing the underlying data itself. This technique can be leveraged by Mphasis' clients in regulated industries, especially Financial Services. QEDIT's solution can be integrated into large application projects for Mphasis' Financial Services clients. ZKP solutions are slated to demand techniques that secure information further on blockchain and Mphasis believes ZKP will become that horizontal layer of security for digital identification.
Mphasis Limited is an India-based company, which applies design, architecture, and engineering services, to deliver scalable and sustainable software and technology solutions. The Company's segments include Banking and Financial Services, Logistics and Transportation, Technology Media and Telecom, Insurance, and Others. It uses its Front2Back transformation approach, which uses cloud and cognitive to provide personalized digital experiences to clients and their end customers. It provides a range of services, which includes application services, blockchain platform, business process services, cloud, cognitive, cyber security, digital, enterprise automation, infrastructure services, products engineering, XaaP (Everything as a Platform) services, and others. It serves various industries, which include banking-capital market, insurance, healthcare and life science, payments, hospitality, travel and transportation, energy and utilities, oil and gas and others.