ING Bank Launches Zero-Knowledge Tech for Blockchain Privacy

ING Bank is continuing further down the path of advanced blockchain privacy with the release of its Zero-Knowledge Set Membership solution, announced this week at the Sibos banking conference.

The Netherlands-based lender had already received plaudits for adapting classical zero-knowledge proofs.

Into a simpler form for use within the bank called zero-knowledge range proofs.

Zero knowledge range proofs can prove a number is within a specific range.

A mortgage applicant could prove that their salary sits within a certain range without revealing the exact figure.

As such range proofs are computationally lighter than regular zero-knowledge proofs and run faster on a blockchain.

Also designed to scale on a blockchain architecture, zero-knowledge set membership allows for alphanumeric data to be validated within a specified set.

Annerie Vreugdenhil, head of wholesale banking innovation at ING, said launching ZKSM in an open-source capacity is the next step in the journey to figure out how to deal with data and privacy using distributed ledger technology.

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