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Banks in Brazil test Microsoft’s ZKP technology to protect privacy at Drex
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The Brazilian Banking Association (ABBC), in partnership with Microsoft, is conducting tests of Drex with an innovative zero-knowledge proof (Zero-Knowledge Proof, or ZKP) technology in a sandbox environment.
This solution promises to guarantee high levels of privacy and security for Drex, the Brazilian digital currency that the Central Bank of Brazil is developing.
Testing focuses on validating the technology’s ability to protect data and ensuring that only authorized users can access confidential information.
The ZKP solution allows you to confirm the veracity of information without having to expose additional details. This mechanism is especially relevant for Drex, as it ensures that financial transactions are validated without sensitive information, such as amounts and recipients, being exposed.
drex
According to ABBC, Microsoft’s technology meets strict privacy and data integrity requirements. “Testing the solution represents a strategic step in creating a safer and more reliable financial environment.
ABBC, in partnership with Microsoft, remains committed to developing technologies that ensure the integrity and privacy of transactions, offering innovation and security for the entire society”, says Sílvia Scorsato, president of ABBC.
The tests, carried out in a controlled sandbox environment, allowed the technology to be applied with the same specifications as the Drex pilot network, ensuring that transactions were only accessible by authorized wallets.
The objective is for Drex to operate with complete confidentiality in transactions, maintaining data privacy and preventing any unauthorized access.
João Aragão, specialist in Innovation for Financial Services at Microsoft, highlighted the importance of this process.
“The application and validation of privacy technology in the development of Drex is essential to ensure the security of operations. These tests help us to simulate digital currency usage scenarios and define the layers of protection necessary for a robust solution”, explained Aragão.
Banks in Brazil test Microsoft’s ZKP technology to protect privacy at Drex
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Banks in Brazil test Microsoft’s ZKP technology to protect privacy at Drex
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Banks in Brazil test Microsoft’s ZKP technology to protect privacy at Drex
