Privaia provides privacy enhancing technologies (zero knowledge proofs and multiparty computation) to enable this collaboration without the need to share or expose data that is commercially sensitive or cannot be shared for legal or regulatory reasons.
Learn moreSuccessful businesses collaborate with others. Privaia provides privacy enhancing technologies (zero knowledge proofs and multiparty computation) to enable this collaboration without the need to share or expose data that is commercially sensitive or cannot be shared for legal or regulatory reasons.
Privaia has started licensing its MLC technology, an innovation of Secure Multiparty Computation (SMPC), to third parties developing public and private networks to grow and expand those networks for applications in the following areas.
Current KYC/AML processes cost financial institutions billions each year to verify identity information. Privaia’s KYC/AML solution allows for verification at any level of assurance to be processed at a fraction of the current cost. As the network expands, enterprise participants will be able to access or process the identity information of any individual already on the network for KYC/AML, with the user’s explicit permission, which further prevents duplication of work and unnecessary re-verification of already verified data points.
Privaia’s MLC technology allows for the creation of a highly effective key storage and transfer solution. Through the network, keys are transformed and digitally shredded into unrecognizable fragments that are then safely stored across a large number of nodes that are themselves unable to reconstitute the key even if a majority of them were to collude. When needed, parties can call on the network to process the fragmented pieces to compute the key and decode the encoded data without having to recombine the fragments into the original key in plaintext. Processing happens while the data is fragmented, maximizing performance and eliminating plaintext risk.
Privaia has the technology to capture and store biometric data in a distributed manner, which can be accessed and verified quickly and efficiently. By distributing the biometric data particles, the highest levels of privacy and security can be maintained. Biometric ID can deliver the highest standard of verification. Consequently, it has applications in many high-risk transactions that require the provision of access to highly sensitive personal data (i.e. government documents, address, private key, seed phrase, etc).
Decentralized applications built using Privaia will allow for near instant verification of individuals, thus allowing the network to be used to prevent fraud in real-time before a business transaction happens. Centralized applications are already providing identity-based internet fraud prevention services in high-risk markets. A decentralized application with access to an MLC enabled network would be an ideal solution to prevent fraud while simultaneously providing privacy and security to individuals. A similar model using an older SMPC technology has already been demonstrated to UK financial regulators.
Online gaming and gambling companies carry significant risk from underage individuals and bad actors using their services. When incidents arise the gambling companies are ultimately liable. Privaia allows gambling companies to verify that their users are both qualified and legally entitled to gamble without compromising the individual's right to privacy. Reducing the number of illegal and unqualified users can reduce overall risk and liability for these companies. Gambling companies can also avoid having to store sensitive identity information on their centralized servers.
Adult content hosting companies are consistently under scrutiny for hosting content featuring underage individuals or individuals who have not expressed explicit consent for filming. With Privaia, companies will be able to verify the age, identity and legality of their content creators and their viewers without compromising their privacy. This significantly reduces legal and business risks.
Age-restricted products such as alcohol, knives, tobacco etc. which are sold online have grown substantially over the past 5 years; similarly with age-restricted digital services. Digital age verification has become an important part of serving customers online who want to purchase age restricted products. With Privaia, developers could easily create applications that connect to a wide range of websites and delivery services/apps to instantly verify the age of customers as part of a checkout flow, without having to reveal any information other than the customer is entitled to purchase the product. Privaia can also perform private verification of addresses to verify a minor is not receiving delivery of restricted goods.
Management of medical and patient records is a significant problem facing the healthcare industry. Patient records are typically spread across various doctors’ clinics and hospitals, unnecessarily replicated and often mishandled. Prior digital integration solutions have failed due to the inherent privacy requirements surrounding the handling of medical information. Using privacy enhancing technologies like zero knowledge proofs (ZKP), secure multi-party computation (SMPC) and Privaia’s MLC, medical records can be safely stored and accessed in a fully private, user-controlled and regulatory compliant fashion.
Digital advertising has driven the growth of the internet. Cookies delivered to a person’s device enable the tracking of a person’s interests, purchases and viewing patterns in order to drive analytics for the website owner. With the arrival of privacy legislation, such as the GDPR in Europe, cookie management has become intrusive as it requires explicit customer consent. Privaia’s MLC could enable “programmable privacy” that enables a new type of cookie, based on zero knowledge proofs, to be configured. Such cookies would preserve privacy while also enabling analytic data to be processed.
Tools for Web3 Collaboration
All over the world sensitive personal and commercially valuable data is collected and stored by organizations. This creates data redundancy, user friction, cost inefficiencies and security risks. Privaia is an innovative privacy enhancing technology that facilitates the creation of new public and private networks that allow sensitive data (e.g. identity, passwords, private keys, biometrics, etc.) to be stored in pieces across server networks where the data can only be reconstructed by the user. These networks allow for the servicing of many of today’s existing commercial identity needs at much lower cost because of the re-use of data instead of the duplication of data. The same technology has applications in government and industry organizations, including across borders, for secure collaboration without sharing sensitive data.
In simple terms, the technology accomplishes this by transforming the baseline data into a set of random numbers via a secret sharing scheme that is Information Theoretic Secure (ITS). These numbers are then randomly divided, via a process akin to digital shredding, into many randomized fragments. The randomized fragments are then dispersed across a set of nodes on a network of servers, nodes or organizations. These fragments are indecipherable to any single node or even to a group of colluding nodes, thereby maintaining trustless privacy. An important feature of both the network and the technology is that nodes only ever receive randomised fragments and execute a single compute function on the fragments that involve no exchange of any messages between nodes. This makes the process between one million to one billion times faster than current SMPC implementations.
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