Key Takeaways:
- Chainlink’s privacy tools: Chainlink launched the Blockchain Privacy Manager and CCIP Private Transactions, enhancing privacy for cross-chain transactions involving sensitive data.
- ANZ Bank’s pilot: ANZ Bank will pilot Chainlink’s privacy tech to settle tokenized real-world assets as part of Singapore’s Project Guardian initiative.
- Institutional focus: Chainlink’s privacy tools address regulatory requirements, like GDPR, enabling secure institutional blockchain adoption.
Chainlink, a decentralized blockchain oracle network, launched new privacy tools to enhance financial transactions on blockchain platforms.
These features, announced on October 22, include the Blockchain Privacy Manager and CCIP Private Transactions.
We're excited to announce CCIP Private Transactions, enabling financial institutions to connect private blockchains to the multi-chain economy.
— Chainlink (@chainlink) October 22, 2024
Australia and New Zealand Banking Group (ANZ) will be among the first financial institutions to pilot the capability for cross-chain… pic.twitter.com/1Qmm9nURqz
They aim to help institutions securely conduct cross-chain settlements while maintaining data privacy.
ANZ Bank will be among the first to use Chainlink’s privacy solutions to settle tokenized real-world assets (RWAs) as part of Singapore’s Project Guardian, led by the Monetary Authority of Singapore.
The Blockchain Privacy Manager links private blockchains to public and private networks, while the CCIP Private Transactions encrypt transaction data, ensuring confidentiality.
Chainlink highlights privacy concerns as a barrier to institutional blockchain adoption, particularly due to strict regulations like GDPR.
By offering these privacy-focused solutions, Chainlink aims to drive institutional usage of blockchain technology for compliant and secure cross-chain transactions.
Chainlink co-founder Sergey Nazarov expressed optimism about enabling compliant large-scale transactions through these privacy tools.
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