Ethereum Startup EthSystems Tackles Institutional Blockchain Privacy Concerns

Ethereum startup EthSystems aims to bring banks and other institutions onto public blockchains by addressing their main concern: privacy. The company believes that confidentiality is the key obstacle preventing financial institutions from using Ethereum, not network speed.

Emerging from the Ethereum Foundation's Institutional Privacy Task Force earlier this month, EthSystems has now transitioned into a for-profit company focused on serving banks, asset managers, governments, stablecoins, and tokenized financial assets.

The startup helps institutions add privacy controls while settling transactions on Ethereum. Its systems are designed to protect sensitive financial data without compromising the transparency and security of public blockchains.

EthSystems co-founder Mo Jalil said that financial institutions need control over who can view transaction details, but this does not equate to full anonymity. Instead, the company supports limited access based on rules.