MENLO PARK, Calif.–(BUSINESS WIRE)–Findora, a leading blockchain technology company today announced that it has reached a partnership agreement with Tencent Cloud, one of the world’s leading providers of cloud computing and Internet value-added services. Soon, Findora will be able to provide the world’s first confidential ledger products, codenamed “zkLDB”, on top of Tencent Cloud, that support encrypted transaction and asset issuance, processing, verification and storage.
Storing important data in a traditional database creates vulnerabilities to various attack vectors. Data is often left unencrypted due to high cost and inefficiency of traditional encryption. Findora’s breakthrough zero-knowledge technology provides an efficient way for users to perform complex operations on fully-encrypted data, ensuring full confidentiality and immutability. In addition, Findora’s zkLDB comes preloaded with a wide suite of privacy-preserving audit tools that are fully-compliant and enable advanced auditability. Tencent and Findora will collaborate to provide a wealthy array of APIs and SDKs catering to a variety of industries including banking, investment management and gaming.
John Powers, Chief Strategy Officer of Findora, said: “Financial services remain vulnerable to security breaches and cloud providers are challenged to keep up with financial institutions’ security needs. Findora brings advanced solutions for data safety and privacy, providing both trust and efficiency for financial transactions by individuals, firms and markets.”
Tencent Cloud has a global presence and decades of experience in delivering digital engagement to its massive user base, making it an ideal platform for Findora’s confidential ledger. Tencent Cloud already works with many companies in the finance industry. These clients of Tencent will benefit significantly from the partnership, receiving enhanced data security and cost-savings through the interoperability of data across partners and services that previously resided in standalone data silos.
“We are very pleased to partner with the Findora team from Stanford and leverage the advanced technology invented by Stanford Lab,” said Tencent Cloud International Chief Solution Architect Davy Wong. “We believe that Tencent’s existing institutional clients will reap significant benefits by using Findora.”
Enhanced data security and limited data access for cloud providers will help position Tencent Cloud as the de-facto cloud service for international financial companies.
To learn more about Findora, please visit https://findora.org.
Founded in 2017 at Stanford, Findora is a Silicon Valley-based advanced ledger technology company founded by world-renowned Stanford cryptographers and the former CEO of Stanford University’s $25b endowment fund. Findora’s core mission is to enable confidential and auditable applications with breakthroughs in cryptography, blockchain, and efficient authenticated data structures. The core product is a confidential ledger that supports encrypted transaction processing, verification, and asset issuance. zkLDB ledger database is efficient, auditable, confidential, and standardized, empowering use cases emphasizing privacy and scalability. Backed by the research of the renowned Stanford Applied Cryptography Lab, Findora is a market leader in zero-knowledge proof and multi-party computation technologies with strong distributed system engineering capability.
About Tencent Cloud
Tencent Cloud, a major member of Tencent Group (ticker: 0700.HK) is a secure, reliable and high-performance public cloud service provider that integrates Tencent’s infrastructure building capabilities with the advantages of its massive-user platform and ecosystem. It provides a considerable number of cloud services, such as cloud computing, data processing and cloud operation services to empower global businesses. Tencent Cloud is part of a rich digital ecosystem that includes some of China’s top social, messaging, mobile payment, gaming, digital literature, music streaming, and video platforms. With over a billion users, Tencent is a global technology leader and the largest technology company in Asia.
Gasthalter & Co.