Zeto is a new Hyperledger Lab aiming to introduce an open source solution for Ethereum confidentiality. Enterprise blockchains such as R3’s Corda and Digital Asset’s Canton were designed for privacy. By contrast, Ethereum’s roots are in the permissionless blockchain space, where transparency is a feature. Given many believe the future will shift more towards permissionless blockchains, institutions are increasingly interested in permissioned versions of Ethereum. However, they have privacy concerns.
One high profile example is Brazil’s central bank digital currency (CBDC) project, DREX, which aims to support asset tokenization. Ethereum-based Hyperledger Besu is the chosen blockchain technology. The central bank has experimented with various privacy solutions, but recently delayed the launch of DREX to provide more time for the solutions to evolve and mature.
Another example is the recent proofs of concept for Germany’s Commercial Bank Money Token (CBMT) project. Two of the three proofs of concept used Ethereum compatible blockchains. The third used Corda where the key advantage was privacy.
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