The IOST Foundation, the overseer of the IOST blockchain network, today announced its strategic partnership with ARPA, a leading privacy-preserving computation network. ARPA will provide privacy protection and computation security on the IOST public chain as a Layer 2 solution.
Using secure multi-party computation technology, ARPA offers safe, private data transferring solutions based on crypto computation and blockchain for IOST business and customer clients. This partnership will greatly support and enhance the IOST public chain construction and ecosystem.
To date, IOST has already announced multiple enterprise partnerships including in charity and aerospace, with many other deals in the pipeline.
Developers on IOST will be able to easily access to ARPA secure computation network to conduct DApp development with user privacy guaranteed. This privacy layer sets the foundation for MNC clients to use IOST in building secure and efficient enterprise systems.
In the short term, ARPA’s focus will be on private data sharing on a business level, such as multi-party joint credit reporting and joint KYC in the financial sector, multi-source data joint risk control and sensitive information query in insurance and big data sectors.
From a long-term perspective, ARPA will together with IOST to promote commercial development in areas like finance, marketing, healthcare, and in areas such as security management of personal data and liquidation and distributed-wallet KMS on a customer level.
ARAP’s core international team consists of renowned cryptographers from Tsinghua University, system architects from Wall Street hedge funds, seasoned engineers from Google, Uber, Amazon, Huawei and Mitsubishi, blockchain experts from the University of Tokyo and Wanxiang blockchain labs, data scientists from AIG, World Bank, CircleUp, as well as venture investors and consultants from Fosun and Fidelity Investments.