At 3PM (UTC) on November, 15 2020, VBC hosted the AMA show with Findora project, whose representative for this AMA is Ms.Lily Chao – Founder of Findora.
Brief introduction of Findora and Ms.Lily Chao:
My name is Lily Chao. I founded the Findora organization along with John Powers, the former CEO of the Stanford University Endowment Fund. I am quite well connected as a young entrepreneur and investor active in Silicon Valley and Asia Pacific Rim. – I have a successful track record of investing in early stage businesses both in the US and in China. being tech-savvy generation who seeks to disrupt and improve legacy businesses, as opposed to following their lead, I am the original thought leader, along with the late John Powers, that devised the strategic and product vision of Findora Foundation. With one foot in Silicon Valley and another in the broader Asia-Pacific rim, I have seen the ways technology can create real world solutions across all corners of the globe.
Findora is a globally trusted financial infrastructure, owned and democratically secured by a decentralized network of worldwide organizations and economically incentivized parties. Findora was created to enable the creation of financial services that are transparently operated while preserving user and institutional privacy. Created by a team of Stanford academics and entrepreneurs, including John Powers, former CEO of Stanford’s USD $25 billion endowment fund, Findora will be accessible to anyone in the world, whether individuals, small and medium enterprises, or industry giants. Our team has extensive collaboration with leading cryptographers in the world and our comprehensive cryptography library includes implementation of state of the art Zero Knowledge Proofs such as Plonk, Bulletproofs an Supersonic. For more information, visit www.findora.org.
Question: What are the differences between privacy in public vs private blockchain systems ? Could you tell me more about Zero-Knowledge Ledger ? How this open source blockchain framework ensures custom levels of privacy and confidentiality?
Lily: Great! public blockchains usually have the open consensus and the state machine replication is usually not partitioned. As for the private blockchain systems, the consensus mechanism can be various. I would say privacy on the private blockchain can be executed with several solutions. Some support absolute privacy, some don’t. For example, the channel concept on Hyperledger Fabric is a form of privacy solution. On public blockchain, the way to realize privacy is to use Zero-Knowledge Proofs technology, TEE or MPC. Among these, ZKP is the most feasible way. A Zero-Knowledge Ledger, as implied by its name, is a blockchain where the validator nodes process and validate zero-knowledge proofs of transactions instead of the transactions themselves. So, no third party can see the metadata of the transactions. Findora blockchain is open-source blockchain, we have one of the world’s most comprehensive cryptography library call Zei, community builders can use the lib and the SDK, APIs we provide to create a lot of custom tools for privacy and disclosure.