Kaleido has tactically secured a partnership with a firm that deals in privacy solutions for blockchains. Kaleido aims to fortify its blockchain that’s offered as a software-as-a-service (SaaS) with privacy gear to make up for its shortcomings against the competition.
Kaleido’s new buddy
The deal between Kaleido and QEDIT took place at the Ethereal Summit, held at Sheva, TelAviv-Yafo, Israel, where the main attraction were the SNARKs. It is no wonder that QEDIT’s product happens to be running on zero-knowledge proof (ZKP) cryptography, which the SNARKs employ.
While zero-knowledge cryptography has all venues open to it for making an impact but it has been specially acknowledged in the energy and financial sectors. QEDIT has quite a history as well. They have been making friends in the corporate world dealing with companies like Sony, T-Mobile, Union Bank, and Fox- constructing blockchain networks where needed.
Kaleido CEO Steve Cerveny, in an interview at the Ethereal Summit, said that Tokens are more than just crypto and the fact that they are dominating out financial stature, makes them even more valuable. Not all information regarding such assets should be shared.
User privacy is the priority
He further explained that these tokens exchange hands and while the transaction methods will always comply with rules and regulations, consumer privacy will not be violated- meaning that while transactional data will be public, user credentials will be kept private.
Backed by ConsenSys, Kaleido is a blockchain solution provider and has been able to launch many organizations in a straight trajectory towards the future where blockchains dominate out conventional systems. Kaleido just gives the initial push to organizations in taking their first step into the crypto-space. The rest is up to the organizations themselves to decide as to what kind of privacy do, they want from the blockchain technology.
The service is quite easy to use. After registering their wallets, the enterprise clients will have to subscribe for the zero-knowledge token service and head straight to the ‘dark chatroom’ for conducting private trades.