Despite the potential for zero knowledge proofs to be used to evade regulation, JPMorgan and ZCash are leading the way in showing how the technology can be used to develop better financial applications.
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JPMorgan Chase To Integrate Zcash Technology To Its Enterprise Blockchain Platform
Lack of privacy and confidentiality in blockchain technology has caused hesitation among banks. But enabling privacy in smart contracts could help facilitate the use of blockchains in transactions such as simple equity trades and complex derivatives. So far, only 18% of transactions in Zcash appear to have chosen the privacy option, but Wilcox maintains that banks feel privacy is necessary so as not to expose the details of their transactions to competitors on the distributed ledgers that underly the technology that makes cryptocurrencies possible.
