EthSystems Aims to Crack Blockchain Privacy Puzzle for Banks

Mo Jalil, co-founder of EthSystems, says that banks and financial institutions are hesitant to adopt public blockchains due to concerns over privacy. In an interview with CoinDesk on July 28, Jalil explained that most financial institutions require a certain degree of confidentiality, which goes beyond hiding information or guaranteeing anonymity.

This level of control means being able to dictate who can access information, when they can access it, and what they are allowed to view. To address this issue, EthSystems is developing privacy infrastructure for banks and other financial institutions.

Jalil emphasized that the company will focus on collaborating with the existing privacy ecosystem rather than competing with established privacy projects. This approach aims to provide a more seamless integration of public blockchains into the financial sector.