Ethereum Startup EthSystems Tackles Institutional Blockchain Privacy Concerns

EthSystems, an Ethereum startup, has emerged from the Ethereum Foundation's Institutional Privacy Task Force. The company aims to bring banks and other institutions onto public blockchains by addressing their primary concern: privacy.

According to EthSystems, confidentiality is the main barrier preventing financial institutions from using public blockchains. Mo Jalil, co-founder of EthSystems, stated that institutions need control over who can view transaction details, emphasizing that the company does not treat confidentiality as full anonymity, but rather supports limited access based on rules.

EthSystems provides a solution by helping institutions add privacy controls while settling transactions on Ethereum. The startup does not plan to build a new blockchain or replace current privacy tools, instead focusing on advising clients, designing custom infrastructure, and publishing open-source research.